Trading in currencies is not gambling. If you want to gamble, go to a casino and play roulette. Unfortunately, most amateur traders get into forex trading for all the wrong reasons. They have false illusions that currency trading is child’s play or that it would make them rich, fast. Ultimately these people loose their investment and then some. And on the other side there are people who make millions from trading in currencies. There are inspirational stories a plenty, about people who started with a few thousand dollars and then went on to make millions through forex trading. The secret to good investing, be it stocks or forex or anything else, is keeping greed and emotions in check. Forex trading is more or less about timing – knowing when to buy and when to sell. You only learn that through experience, currently it’s more of an art than science. Most astute investors keep experimenting with different trading strategies and models to determine what works. Everyone out there is looking for that elusive insight that might lend them an advantage. Only through experience would you know when to sell. Everyone loses money, even seasoned traders, you must make sure that your [...]
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