Hopefully the former occurred, if not, there is still time. The aware public knows that it is more likely for a person to make money if they already have money. What many people fail to realize is that exchanging different currencies can make money, and that money exchange rates play a role. Forex (FX) is the currency market where even slight changes in the value of money exchange rates may result in large financial gain for the currency trader.
Study First
- Open 24 hours a day – what is going on at what hours?
- Open 7 days a week - what is going on which days?
- What political moves affect which currencies?
- What political moves do not affect which currencies?
- What is the highest and lowest level of risk?
- How much risk will still keep me in the game?
- How much risk will send me running away?
- Is my Internet connection reliable and fast (very fast)?
- Are my electric power options dependable?
- Is electrical power back up possible?
- Do I have the right money management skills?
- Do I have the experience for this type of exchange?
Take Baby Steps
- How much money can I afford to lose?
- What currency should I try first?
- Would a mentor be a good idea?
- Can I find someone else to observe trading?
- Is there a course, a workshop, or video offering?
- Are there trial software programs with no investment and no risk?
- Can I make my own trial program on a spreadsheet?
Go For it!
- Join the Forex Market game of money exchange rates with the smallest trades possible
- Set specific limits for loss and also for growth
- Be clear about your personal trade limits
- Record everything
Evaluate
- Did you realistically evaluate yourself?
- Did you stay within yourself-defined parameters?
- Do you now know what you still need to know?
- Were the results financially positive?
- Was it fun?
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