Forex Trading - Loose Your Shirt
Tuesday 5 August 2008
Forex Trading is a fast-moving, exciting way to do a lot of money, but it is also the easiest way I know to lose your shirt!
Follow these few simple tips to make sure you suffer big losses trading Forex.
The first thing you have to do is make sure you do not spend any time to study all the basics of Forex trading, even if this information is readily available, you should make sure to ignore completely.
It is possible to open a free account practice with most brokerages Forex, but rather than making virtual currency trades and learn to do things without risking real money, if you want to lose your shirt, it is better to start from the beginning with your own funds, because that way, you know what it is really losing money.
Even if it is possible to receive new son or be alerted about items that could have an impact on currency trades you should not do so, it is best not to leave an update on new your thinking if you want to lose money big time.
You should also make sure that you completely ignore the forex forums that are available on the Web. The fact that it is possible to pick up useful tips and information on trends affecting the currency market is of no interest to you, you know what you want to trade and you will not be influenced by opinions of others.
It is best if you completely ignore the advice of the Federal Trade Commission, even if they do provide information on the various frauds that you might be. The fact that the Federal Trade Commission is responsible for monitoring trading Forex is of no interest to you, so that ever.
Some think that when you start negotiating, it is preferable to use only small amounts of money that you do not need for other purposes, now the course is absolutely stupid, how can you do a lot of money if you do not trade with large amounts? It is better to be involved from the very first day of trading large amounts of money.
When it comes to choosing a broker Forex do not pay attention to other people's recommendations just go with your own intuition probably the one who has the flashiest website will be good for you.
Certainly not bother to do so, whatever the negotiating strategy and in no case you must use stop positions, just go to your intuition and you may be wondering right.
But if you prefer to make profits on your regular Forex trading you might just try to do the opposite of all the advice above.
Labels: forex
posted by Master @ 05:05,