forex for dummies

Here are some more tips for the beginner...Please put in your mind before you start!

1. Spontaneous actions in Forex trading — are a part of pure gambling.
Any attempt to trade without analysis and studying the market is equal to a game or gambling.Do not try to trade without any analysis.

Tip 2. Never invest money into a real Forex account until you practice on a Forex Demo account!
You should first try using demo account,before try to trade into real one!!When you're feel comfortable,you can change to the real account.

Tip 3. Go with the trend!
Trend is your friend. Trade with the trend to maximize your chances to succeed. Trading against the trend won't "kill" a trader

Tip 4. Always take a look at the time frame bigger than the one you've chosen to trade in.
It gives the bigger picture of market price movements and so helps to clearly define the trend.

Tip 5. Never risk more than 2-3% of the total trading account.
One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable conditions on the market.

Tip 6. Put emotions down. Trade calm.
This is the most important thing.Don't be greedy by adding lots of positions when winning and if you loose,don't try to revenge after losing the trade.

Tip 7. Choose the time frame that is right for you.
Choosing wise means that you are comfortable and have time enough to analyze the market, place and close orders.

Hopefully some of these tips can help you..