Now that you’re finished reading the Complete Forex Trading Guide for Beginners, you’re equipped with the basic skills needed to succeed in currency trading.
You’re now well versed on the basic concepts and terminologies of Forex, you know how important it is to think about your trading profile in order to create your trading plan, and you know how to better control your risk and enhance your profits. Success in Forex trading is like success in any other kind of job or activity: it requires preparation, skills and an in-depth education, and you need to remain motivated, dedicated and committed to keep learning in order to meet your goals.
As currency trading is mostly done via leveraged products, it is of vital importance that proper risk management and position size allocation processes are built into your trading strategy.
Most beginners don’t really know the correct level of leverage they should use, so what invariably happens is that they often trade with too much, because they underestimate the associated risks. Over-leveraging very often leads to losing part of your trading capital, if not all of it. For this reason, it’s extremely important to learn the right tools and techniques so you avoid making costly mistakes.
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With My Trading Skills, you’ll also become more confident in analysing the market before opening/closing any trading positions, and use appropriate risk and money management rules to protect your trading capital against potential losses.
Surrounded by a team of professionals, you can take advantage of advanced trading knowledge and an environment that will boost your success thanks to a cutting edge trading education program that provides an excellent balance between practice and theoretical trading knowledge.
In addition to receiving access to our course materials (which you can study at your own pace anywhere, anytime), becoming a My Trading Skills student also means that you’ll receive practice assignments with individual feedback. Moreover, you’ll also belong to the My Trading Skills Community, which gathers a social network, charts, and useful market information for traders, all in the one place.
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CHAPTER QUICK LINKS
- 2.Why is Forex Popular?
- 3.Why Forex is (or isn’t) for You
- 4.How Does Forex Work?
- 5.Popular Traded Currencies
- 6.History of Forex Market
- 7.FX cash, CFD or Spread Bet?
- 8.How Margin Trading Works
- 9.Best Time of Day to Trade
- 10.Forex Regulation And Protection
- 11.Forex Trading Examples
- 12.Making a Living Trading Forex
- 13.Mind, Money, Method
- 14.Forex Risk Management Strategies
- 15.Winning Forex Strategies
- 16.Technical vs. Fundamental Analysis
- 17.New Forex Trader Mistakes
- 18.Dangers of Forex Trading