Forex is actually a shortened version of foreign exchange. This is a market where traders around the world trade one type of currency for others. For instance, American investors who have bought Japanese currency might think the yen is growing weak. If his charts are accurate and the yen really is weakening, making the trade will make him money.

Never base trading decisions on emotion; always use logic. Any strong emotional response, including anger, fear, greed, and fervor, can interfere with your ability to trade responsibly. If your emotions guide your trading, you will end up taking too much risk and will eventually fail.

For a successful Forex trading experience, listen to what other traders have to say, but make your decisions based on your own best judgment. Always listen to what others have to say, but remember that your final decisions regarding your money are your own.

Don’t trade …