1. Understand The Truth
Trading is a game of probabilities.
Imagine we’re flipping a coin. Heads I win one dollar - tails you win one dollar. Simple. Heads and
tails will each come up half the time, and we’ll both neither win nor lose.
However, unknown to me, you have a loaded coin. [...]
Before we go any further we are going to be 100% honest with you and tell you the
following before you consider trading currencies:
1.All forex traders, and I mean all traders lose money on trades. Ninety
percent of traders lose money, largely due to lack of planning and training and
having poor money management rules.
2.Trading forex is not [...]
Basic Concepts VII: Margin
What is Margin?
Margin is the amount of equity that must be maintained in a trading account to keep a position open. It acts as a good faith deposit by the trader to ensure against trading losses. A margin account allows customers to open positions with higher value than the amount of funds [...]
Basic Concepts VI: Types of Orders
The forex market provides different kinds of orders for trading. The following are some major types of orders that can be found on forex trading stations.
Market orders - A buy or sell order in which the forex firm is to execute the order at the best available current price. [...]
Basic Concepts V: Spreads
What is a spread?
In margin forex trading, there are two prices for each currency pair, a “bid” (or sell) price and an “ask” (or buy) price. The bid price is the rate at which traders can sell to the executing firm, while the ask price is the rate at which traders [...]