Hi, and a very warm welcome to my
currency trading teach you everything
you need to know about how to start forex currency trading
online, and to become a successful currency
trader. As you may know I am a full time currency trader
myself, and I know from personal experience how difficult it can
be, to find informative and helpful sites online when you are starting
out - hopefully this one will help! I do have several others on
various aspects of online trading, all free, so if you would like to have a look
at these please click on the
above ( or here ), and it will take you there. Again all the
information and advice is provided free.
If you would like to follow some of my trades, I do post regularly on
Twitter which is often called a micro blogging service. For those of
you who are not familiar with it, it is simply a quick way to stay in
touch with friends, family and news. You only link to people who
are of interest to you, and the longest message is limited to 140
characters, so messages are short and sweet! It is ideal for me as I can
update very quickly from my screen with details of possible trades,
opportunities, news and also details of when my other sites have had new
posts added, so you are always in touch. If you would like to follow me,
and you already have a Twitter account, please just click on the follow
me on twitter link above, or alternatively open an account with Twitter and then
follow me. In addition I am also on Facebook, and MySpace, and would be
delighted to hear from you there. I will shortly be opening a trading
room on FriendFeed which will be available for you to meet other traders
and investors and to discuss trading ideas, problems and strategies,
along with access to my own trading suggestions. So there is a great
deal going on at the moment, and please dont forget, you can always ask
me a question at the new
site, or simply review trading
questions asked by others so I hope you enjoy this new site.
I am in the process of updating all my sites which will include daily posts
and videos by me, about future market directions, suggested trades, and
opportunities for future trades. In addition when a site has been updated with a new post or
video then these details will also appear immediately, which I hope you will find useful, and I look forward to welcoming
you via one of the above.
As always, I have tried to explain about trading in
currency clearly and simply,
but if you do have any forex trading questions then please just
click the Ask Anna button above and ask! I love to hear from
people from around the world, and if I can help you a little I
would be delighted. Again, this is free as I feel there
are enough people out there trying to make money from novice
traders, particularly in the currency markets !
The Bad News!
Lets start with a shocking fact : 85% - 90% of
retail currency
traders lose money, and you will probably be one of them. Why?
Firstly, because it is so easy to start forex currency trading online. Open an
online account with a currency trading broker ( there are hundreds to choose from
with more everyday) and you can be selling pounds and buying
dollars with the rest of us. Secondly, currency trading offers the dream of
giving up the day job, and trading for a living. Thirdly, the
market is full of scams and is generally unregulated. Fourth you
need to be disciplined to succeed with a rigid
.
Finally you need to have sufficient funds - this is the single
most common reason most currency traders fail.There
is also a further reason, which encapsulates much of the above,
and this is simply that very few currency traders ever have well
thought out or developed currency trading strategies, generally
preferring to trade on gut instinct and emotion, constantly
chasing the market, and never taking the time to step back,
think, practice and learn, whilst trading in small contract
sizes using a well developed strategy. Trade without a strategy
and you will become another statistic Im afraid.
The Good News!
It
is possible to make money trading in the currency trading markets, and
eventually give up the day job - I have done it so I know, and
therefore speak as someone who has learnt the hard way and
succeeded. The actual mechanics of how to trade currencies are very
simple, and covered on many other sites. The purpose here is to
highlight the pitfalls ( there are plenty of them!!), and
provide a solid grounding in all the aspects of currency trading trading
that you will need to understand in order to succeed. Whilst I
primarily trade as a technical trader using currency trading
charts, I am also keenly aware of
the fundamentals of each country and how it affects the home
currency, along with the broader world economic picture. This is
critical to your success, and in order to help you I have given
each currency pair a page on its own, with all the information
you need on each, which I hope is useful in helping you to learn currency trading.
OK - so you want to start trading forex for a living - lets
start by looking at the some of the basics of online currency trading as you begin to learn currency trading .