So, you have decided to dabble in forex. You may have realized that this is a large market with many different facets. Knowing that currency trading can be very competitive can make it seem impossible to know what strategy will fit you best. Below, you will find some suggestions for getting started in forex.
Never trade on a whim or make an emotionally=based decision. The strong emotions that run wild while trading, like panic, anger, or excitement, can cause you to make poor decisions. If your emotions guide your trading, you will end up taking too much risk and will eventually fail.
When trading, have more than one account. One will be your real one and the other will be a demo account to use as a bit of a test for your market strategies.
In forex, as in any type of trading, it’s important to remember that markets fluctuate …