Keep your Emotions Checked and Be Realistic with Forex Trading

    November 26, 2015

    It is mind boggling when you consider that in the forex market, $4 trillion is traded daily! It is certainly the biggest and most liquid of the financial markets, operating 24 hours a day and every day of the week. There are many advantages of trading forex such as there being no exchange fees, no brokerage fees and no clearing fees. and because the foreign exchange market is so huge, with so many people participating, no single entity can control the market price for an extended period of time.

    If you open a forex trading account online, you can begin trading within a couple of business days. Most people find their a credit- or debit card is the quickest funding method and once the application is complete, you can begin forex trading.

    Forex Trading in South AfricaForex Trading – You’re Not going to Get Rich Overnight

    Some traders like to look at financial reports while others look at forex technical analysis on the charts, making their trades based on visual signals. Before you start trading, it is best to get acquainted by opening a demo account with a broker to allow you to become familiar with the forex trading platform and learn how the market flows.

    Click here to sign up free to train and trade in forex

    Simon Brown, founder of JustOneLap, a financial education website, says that people believe they can become rich overnight. Forex trading can be profitable, but it is important to learn the trade first. He says there are many places online to learn forex, which is necessary, because there are scams which offer amazing returns by first signing over your money to by the so-called ‘road to riches package’.

    Forex Trading – The Importance of the Demo Account

    Always remember to check out any financial services providers – that they are authorised and regulated by the Financial Services Board. With forex trading, learning about the currency markets and basic trading principles on a trial and error basis is unwise and most online forex brokers offer a practice version of their trading platform and this gives an inexperienced trade a similar experience as live trading.

    Once you create a demo- or practice account, you can deal and trade as you like without losing any ‘real’ money. You’ll be able to see how the markets react to economic forces without risking your investment capital.

    Click here to sign up free to train and trade in forex

    Saxo Capital Markets was started in 1992 as an online trading platform across 26 countries. Forex TradingThey offer a comprehensive trading platform which is easy to understand and which is continuously upgrading. As an international financial services group which specialises in trading and investment, they enable investors to trade ETFs, Stocks, Futures and Options through their multi-award winning online trading platforms.

    For anyone learning forex trade, it is recommended to look at Babypips.com or Investing.com. because here you will find everything you need to trade. Just some of the tips recommended are among others –

    ●   always research your broker and find one that is registered and accredited
    ●   if you’ve had a number of bad trades in the day, opt out and don’t trade further for the day
    ●   be psychologically prepared to lose money, and don’t be tempted to trade further once you’ve reached your target.

    Forex Trading – Don’t Give Up Prematurely

    The idea of a beginner forex trader is to survive and stay in the game but the idea is also to look at things realistically from the start. According to your experience, determine an attainable percentage of winning trades, and once you have a clear idea of trading conditions, you’ll find it easier to work towards a profitable trading strategy.

    Click here to sign up free to train and trade in forex

    All info was correct at time of publishing