Before you even think about forex trading, spend at least a week reading from people who know what
they are doing. Then once that week is over, go back and analyze the information you just read to
determine whether or not it was dependable. Then go and read for another week!
If there is anything to say to a beginner to the forex market or any other form of trading, it’’s
this - don”t trust anyone but yourself! Sure ask for advice, but make sure the final decision on your
trade investments is solely yours. Measure up the investment to also determine whether or not you can
afford to lose what you are about to place in and don”t ever go overboard!
Your goal if you don”t have one, should be to find a strategy that works and stick too it. Don”t go
changing strategies just because you got a hot tip from some guy who fluked a trade and made a mint.
Find a good strategy that works well and stick to it.
The Fox And The Hedgehog
We can say people are categorized as being one of two things - they are either a fox, or a hedgehog.
A fox is a person that knows a little about a lot of things and therefore tends to jump from one
strategy to another. In other words, they are very cunning and use a great deal of strategies to try
and get the hedgehog. The hedgehog knows a lot about ONE thing. It knows that whatever the fox tries,
all it has to do is crawl up into a ball and when the fox pounces, he gets a mouthful of spikes, and
so the hedgehog survives.
Don”t be a fox, be a hedgehog. Become an expert of one strategy in forex trading and I promise you
will reap the rewards.
In the past, Forex markets were accessed only by larger financial institutes, investment banks, large
multinational companies, global money managers, international currency dealers, and liquidity
providers. Lately, online trading is offering trading platforms for each individual who wants to
trade currencies in order to gain profit.
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