Closing Notes (For Beginners)

Please note, that after you have read this, you are just qualified enough to understand the forex and not trade on it. The following points are to be noted - Study more about the Forex and learn how to predict its movements - Practise on a Demo account, or on an account with a minimum token fund so as to minimize your losses and only start trading with large sums when you learn how to make a steady profit Losing on the forex is common-place, and every forex dealer has lost money at some time or the other. Please do not get worried when you lose money on the forex. No one can predict the market at all times. Secondly, it is highly recommended you used a stop-loss at all times to minimize you loss or you can lose everything you have in just one single night. In the beginning please keep trading the major currencies (USD, GBP, JPY, CHF, EUR, AUD, CAD) as they are easier to predict and brokers have lower spreads. For other minor currencies and exotic pairs the spreads are normally higher and are very difficult to predict. Also, try to avoid cross currencies (pairs like GBP/JPY which do not involve a USD) as such currencies are unpredictable. In reality they involve two USD trades. They also are more expensive to trade. Go Back to The Forex