Profit Guide to Forex
Forex Profit Systems

How difficult and technical is Currency Trading?

New to trading and a little wary of starting , would like to know the following :

1) How difficult is currency trading ?
2) Can you really make money trading ?
3) How many currencies does one suggest I trade as a beginner
4) As a beginner is swing trading the way to go
5) Does taking a currency course make a difference ?

Only Professional people to answer please !!!

Public Comments

1. 1) How difficult is currency trading ?
Very.

2) Can you really make money trading ?
Yes - you can also loose money, which is not a pleasant experience

3) How many currencies does one suggest I trade as a beginner
Just pick one - say USD/GPB, USD/EUR, USD/AUD or USD/CAD

Become familiar with how it moves over a long term trend & how it reacts to news/events etc..

4) As a beginner is swing trading the way to go
Swing trading is for taking long term positions. You may find that day trading is more your thing - every one is different. Give a few strategies ago in your practice account.

5) Does taking a currency course make a difference ?
It may - as long as its good, you are really motivated, and you practice what they teach.

I would suggest that you open up a demo account & start trading with practise money first. Borrow a couple of fx trading texts from you local library and see if you can both stay interested and trade profitably.

If your still doing it after a couple of months, then you will get the most out of your investment. If you've given up the ghost, then its probably not for you & you should save your money.

Most people who do those courses are not trading in 12 months time. Why? because they were not motivated enough in the first place - after a few looses a lot of people give up. Expect to loose money for the first 12 months - it takes that long for most to learn.


* 10 hours ago
* - 4 days left to answer.