Forex is a market in which traders get to exchange one country’s currency for another. For example, an investor in the United States purchased Japanese yen, but now believes the yen is becoming weaker than the U.S. dollar. If that investor makes the right trading decision, a profit can be made.
To succeed in Forex trading, sharing your experiences with fellow traders is a good thing, but the final decisions are yours. Listen to other’s opinions, but it is your decision to make since it is your investment.
Maintain a minimum of two trading accounts. One account is your live trading account using real money, and the other is your demo account to be used as a testing ground for new strategies, indicators and techniques.
As a forex trader, you should remember that both up market and also down market patters will always be there; however, one will always dominate …