WHAT IS FOREX TRADING

 

WHAT IS FOREX TRADING

Trading currencies through Forex Trading is a good way to become successful business man, but this is not so easy as it looks these days, as you can see lots of advertisements throughout daily over internet and you might think to jump in with some of your money which you earn with lot of struggle but it takes years to grow small amount to be safe and it is possible to loss all your money if you are not train enough for forex trading. 

Forex trading is not a part time business although you do not have to do any hard work like other business but it needs market analysis and keen view of economic news which determines your knowledge and helps you to take profit from market situations of daily analysis .
Although forex brokers give you option of minimum amount to invest initially and start with small size but of course it also needs lot of knowledge to achieve your first trade successful.

First of all you should take good advice from market to choose your broker which is regulated and should have good market value and after that you make practice account with your broker and learn basics to start without your own money, learn from articles and videos how to use indicators which helps to observe market behavior and you will take good start with indicators help. When you are confident about forex trading so this is the correct time to start with your own capital.

Here are some rules which you should follow if you want to save your money for long time and you will have chance to take some profit if you initially loose somehow.

Forex trading is a money management game and this way you will learn to save your capital from complete loss so your trade should not loss more than %2 of your capital balance. I mean if you start trade with $0.01 lot size and your leverage is 1:100 and stop loss is 100 pips you should have $700 capital balance in your account. If you do not want to invest enough amount so you have to search for some brokers which offer $0.001 smaller size lots and good leverage also to make you survive in any bad condition if happens. Remember forex trading is a patience business like others but also need deep market knowledge and ability to take quick decisions to be a successful forex trader.