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Learn forex


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Currency News Trading is dedicated to Forex News Trading and fundamental analysis in general. The goal of CNT is to provide free resources to help you achieve success in trading the currency market.

Published in: Economy & Finance
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Learn forex

  1. 1. Learn To Trade Forex Successfully In A Few Simple StepsIf you never traded Forex or currency exchange, you may have the impression that Forex trading is a verycomplicated business reserved for big banks and experienced financial institutions. But if you have traveled to aforeign country and have exchange your local currency with money of a different currency, then in essence you havedone some currency exchange. Forex is now available to anyone who is willing and has a computer with internetaccess.If you want to learn to trade Forex and do it successfully, then the easiest way is to browse the Internet forinformation. Unfortunately, often times, you will find plenty of false promises, scams, and lots of websites trying tosell you the holy grail of Forex robots and indicators. Many of the information available online are mostly filled withrecycled concepts or untested strategies which often times the authors do not use in their own live trading accounts.Many of the self-proclaimed gurus make money from selling Forex educational material rather than trading Forex. Learn To Trade Forex Successfully In A Few Simple Steps (Courtesy of
  2. 2. Learn To Trade Forex Successfully In A Few Simple StepsBefore you learn Forex, you also need to be aware that 95% of Forex traders lose money. It’s not becausethey dont put in the effort, it’s because they get the wrong Forex education. Below, I will give you ablueprint to follow so you can learn to trade Forex trading in a few simple tips.Take responsibility on your trading - When you learn Forex, you have to begin to understand to takeresponsibility for your own actions. Instead of blaming your broker or the market, you need to put in thetime to learn and practice in demo accounts before you put real money on the line. Pick a broker that isreputable and it matches your trading style. The Forex market is very unpredictable, so you must alwaysexpect the unexpected. No matter what the indicators and charts indicate, the market may just do thecomplete opposite. Learn To Trade Forex Successfully In A Few Simple Steps (Courtesy of
  3. 3. Learn To Trade Forex Successfully In A Few Simple StepsMake your own Forex trading plan - Novice traders that begin to learn Forex, should learn as much aspossible and start a trade plan. Your trade plan should be based on support and resistance, momentumindicators, currency trend, money management, and market sentiment based on fundamental analysis.There is a common saying that says “Plan your trade and stick to your plan”. Often times, we are swayedaway from our plans because of greed to make more money and fear to lose money. Learn To Trade Forex Successfully In A Few Simple Steps (Courtesy of
  4. 4. Learn To Trade Forex Successfully In A Few Simple Steps Practice sound money management –A sound money management plan will not only benefit your trading, but by applying it to all your trading decisions, you will see a significant increase in both profit and consistency. You should always protect your money and trade with a low risk to reward ratio, set a proper lot size, set a stop loss and take profit, and never over leverage. Forex trading is often compared to placing bets at a casino table. The house will always win, but if you use a sound money management plan, you will trade long enough to catch the profitable trades, whereas traders who over leverage their accounts will not last and will end up losing all the money. If you want to learn to trade Forex, you should follow these basic tips and you will be successful. Try what is best for you and follow your plan. Always approach Forex trading just like if you were with a business. Learn To Trade Forex Successfully In A Few Simple Steps (Courtesy of