I'm here to give you some free currency trading tips and other training advice to help you become a great trader. Did you know the most traders end up losing money and only about 10% actually do make money? It's true and it's mainly because people jump right into this, blowing all their money very fast. I hope to help you eliminate that.
You're going to be introduced to the idea of margin trading. This is a little foreign of an idea for most people to digest, so I'll explain it. You're going to put money into your trading account, let's say $100. Now you'll be able to trade up to $10,000 in currency. Odd right? Well, basically the money you put in is a deposit. You're allowed to trade the brokers money. This gives you a lot more leverage to make profit. It's not free money though. The broker is happy if you're doing good because you're making the broker money and you're making yourself money, but if you come anywhere to losing your original deposit, you'll be cut off. It's not free money because the broker will never let you lose any of their money.
The next tip I'm going to give you is to help you start looking at trades differently. Buying price seems like the place to be looking but it really isn't. You want to look at selling price. You need to know what price you can sell this for. At that point, you're at a position to compare to the buy price. This is how you're going to determine if a trade is worth your effort or not.
Lastly, you need to understand the basic concept of up or down. That's all currency will do. It just has two directions, which simplifies your job. Your strategies should all involve figuring out when it is about to go up or down. That's how you profit.
I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.