If you know what you are doing, forex can be very profitable, so it definitely pays to do some research before you begin. Starting with a demo account is a great way to get acquainted with real trading without any of the risk. Here are a few tips to help you make the most of your learning experience.
Forex is ultimately dependent on world economy more than stocks or futures. Before engaging in Forex trades, learn about trade imbalances, interest rates, fiscal and monetary policy. Without an understanding of these basics, you will not be a successful trader.
Thin Market
You should avoid trading within a thin market if you are new to forex trading. The definition for thin market is one that is lacking in public interest.
If you keep changing your stop losses, hoping that the market will rebound, chances are you’ll just lose even more money. To …