Currency Trading Online : Introduction

Home Page: Hi, and a very warm welcome to my forex site which I hope will teach you everything you need to know about how to start trading currency online, and to become a successful forex 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 Making Bread Home Page above ( or here ), and it will take you there. Again all the information and advice is provided free.

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 ! At the bottom of the page you will also find a live trading calendar, which provides details of all the important financial announcements from around the world, such as changes in interest rates, inflation figures and employment data. All of course will move the market, particularly the currency markets so you need to be very aware of the days and times when these items of news are due for release, otherwise you could find yourself opening a position just prior to some significant news -probably not the best way to start trading! As you will see each news item is accompanied by a short explanation if you hover over the question mark bubble,  and the star rating indicates the significance of the news. A five star rating will be far more important than a one star, so pay attention! As data is released it is updated immediately, so that figures can be compared with the forecast. I hope you find it useful, but please read the rest of the site first!!

Currency Trading Online : The Bad News!

Let's 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 trading online. Open an online forex account with a 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, forex 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 trading plan. Finally you need to have sufficient funds - this is the single most common reason most currency traders fail.   

Currency Trading Online : The Good News!

It is possible to make money trading in forex, 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 forex 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 forex trading that you will need to understand in order to succeed. Whilst I primarily trade as a technical trader, 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 forex pair a page on its own, with all the information you need on each, which I hope is useful.

Speaking of good news, and as promised please find below the trading calendar which I hope you find useful. Please let me know if you have any comments or feedback.

OK - so you want to start trading forex for a living - let's start by looking at the some of the basics of online currency trading.

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