One thing to be kept in mind if you are thinking of getting into Forex trading – this is a business, and should be treated as such. Forex trading is NOT gambling, and you should never trade with money you cannot afford to lose. This is the most important principle of Forex trading. Don’t trade [...]
The easiest way to illustrate how Forex trading works is to show some currency value fluctuations over the long term. For instance, this list shows the difference in value of the US Dollar (USD) against the UK Pound (GBP) on Nov 30 your the years 2004, 2005 and 2006. Year USD GBP 2004 1.91 1.00 [...]
Short for Foreign (currency) Exchange, Forex is the world’s biggest market for trading in currencies. As much as 2 trillion US dollars worth of currency are traded on the Forex on a daily basis. Compare this with the approximately 25 million US dollars traded on the NYSE and you’ll get the picture – Forex is [...]
Before you begin to Forex trading, you need to learn the basics of money management first. One of the things you need to do is to decide how much money you can afford to lose on a single trade, but just as importantly, you need to have a system set up that you decide you’re [...]
If you do an Internet search on the keywords “Forex trading systems”, just about any search engine is going to bring up every conceivable scheme under the sun as to what makes the perfect trading system. Most of these are scams that state you can make big profits every day, and they also promise that [...]