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Top 3 Forex Myths Exposed

Being the largest financial market in the world, Forex is able to draw in millions of new investors every year. Unfortunately, most of these investors will ultimately lose their money and help to fund the small percentage of investors making a living in the Foreign Exchange Market.

A big part of the reason that so many people lose their investment within the marketplace is because they buy into the many myths floating around about how Forex works in principle.

It is extremely easy to get caught up in the myth and legend of Forex and to ignore the reality. After all, people from the outside looking in see that trillions of dollars are trading hands daily. They see that some people are able to invest only a few hundred dollars and earn a living. They see so many automated programs on the market that the entire system just screams success to the everyday Joe just trying to supplement his income. But the truth is that the Foreign Exchange Market is tricky and brutal and will eat unskilled investors alive. Read more

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Forex Currency Trading

You’re probably reading this because you’re thinking of venturing into forex currency trading. Bear in mind that it’s a long road before you can trade confidently and profitably on your own – but the first step is learning as much as you can can about forex markets, and how to take advantage of them. Here are some of the basics you need to know about.

Currency Pairs

In forex currency trading, you always trade currencies in pairs. That means you buy one and sell another. For example, if you lived in the United States and you bet that the dollar was going to lose value against the British Pound, you would buy the pair GBP:USD. Conversely you could say you sell the pair USD:GBP. The result is the same: you’ve sold some of your own currency and changed it into another. Read more

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Understanding Forex Simulator Trading

Practicing using forex simulator trading is the best way to learn how to trade forex and other commodities without exposing yourself to any risk.  Trading simulators get slightly delayed quotes, and are usually free or usable for 30 days without paying, and they allow you to see how your trades would have fared in the real market before you commit to investing your own money.

If you’re just starting out, it is absolutely essential that you practice using forex simulator trading before trading on the real thing.  Forex trading carries high risk, and you need to be absolutely confident in what you are doing before you put real money down. Read more

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Learn to Trade Forex – Simple Strategies

If you’re swayed by promises of making large profits in no time by trading forex, then know this: it is entirely possible, but it is not luck or good instinct that makes you money. Buying shares to put away for your kids’ education is a decision that can be made with a lot of thought, and a good serving of faith in a well-run company.

In the fast world of forex trading the average trade lasts less than a second, thanks to computer trading software. If you want to learn to trade forex, strategies that are tried and tested are the only things that will give you any chance of making a profit. Read more

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Forex Trading System – Strategies

It’s a well-known fact that only 5% of forex traders are successful, and this is largely to do with strategy.  In order to formulate your own forex trading system strategy, you will probably need to do a lot of reading about statistical analysis, and practice several styles of trading on a practice account before you take on some real trades.

Fortunately, there are a number of tried and tested strategies out there that require just a little bit of know-how and common sense to implement, and will generally be successful if you keep your emotions out of play.  Any forex trading system strategy is bound to be flawed in certain circumstances – there is an exception to every rule. Read more