Forex, short for foreign exchange, is a worldwide market where traders are able to exchange one currency for another. As an example, an American trader previously bought Japanese yen, but now feels that the yen will become weaker than the dollar. If his charts are accurate and the yen really is weakening, making the trade will make him money.
Forex is highly dependent on the current economic conditions, more so than anything else that involves trading. Understand the jargon used in forex trading. If you don’t understand these things, you will surely meet with disaster when you begin trading.
If you want success, do not let your emotions affect your trading. Staying rational and levelheaded will minimize your chances of making risky, impulsive decisions. You cannot cut your emotions off entirely, but you need to put your rational mind firmly in command to make good forex decisions.
Having just one …