If you are reading this article, you must probably already know something about forex. You may be considering the profession of trader as prestigious, romantic, analytical or mathematical… Or all of the mentioned. Let’s try to figure out, what is the foreign exchange trade all about?
“Nothing could be easier!” – someone may claim – “Sitting somewhere by the Caribbean sea, with a notebook and making crazy money.” Yet, if it were that easy, there would be no more professions left except 4x currency trading specialists.
“Dull!” – someone would say – “Forex rates, forex quotes… Who can stand working like that all day long?” But what do you say about all those people who love foreign exchange market not only for the revenues, but for the challenge, the passion?
Both will be wrong. Yet, as always, the truth is out there, somewhere in the middle. Forex is about all of this: passion, strategy, analytics, luck. The most important of the forex tips is: don’t start doing forex if you are expecting just fun or will be relying on luck only.
To succeed you will need to be smart, to work hard, to stand challenges and to face risks.
The other tips we can provide you with, if you decided to start doing forex are as follows.
Once you decide to do forex, choose a reliable dealing company. It’s the first step to minimizing risks.
Secondly, learn as much about the forex, currencies, markets as possible. Luck is only 1% of success.
Thirdly, don’t give up! There will be losses, surely. Yet, without losses there is no revenue. Only practice brings you one step forward.
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