On a daily basis I receive loads of questions asking about
my thoughts on trading the forex. It’s almost like the forex
is now the fashionable thing to trade.
But, should you really be trading the forex?
Like many topics related to trading the answer is both
“yes” and “no”.
The forex is the most exciting/lucrative market I have ever
traded but it’s definitely *not* for the beginner!
I understand why the beginner is attracted to this market; but
what they fail to understand is that, due to the massive
leverage, it can wipe out your trading float faster than a
speeding bullet.
In my opinion, which I have always stated, it’s best to start
your trading career with non leveraged instruments like stocks.
You can then prove you can make money there before moving to
something more leveraged like options, CFDs or forex.
And even then, as with all trading, you need a good trading plan
in place before start.
Recently I checked out another great course on the forex that
may be worth checking out.
What I liked about it most was the fact that the author outlines
3 different mechanical systems that can be tailored to suit your
preferred trading style, i.e. medium term or day trading.
Anyway, I just wanted to point it out but only if you’ve proven
yourself as a successful trader. I want to stress, trading the
forex, is not for the beginner.
But it’s worth a look:
==> http://www.meta-formula.com/forextrading
Till next time, I wish you good trading.
David Jenyns