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Posted on September 21 2013
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Forex trading is just like any other finincaal investment tool. Takes money and some smarts and patience. Although their are a lot of perks with forex trading such as 24 hour trading, largest liquid market, and very high volatility, one should still educate themselves as you would on any type of investment. Unless you just do not care about your money.First I would recommend learning up on some technical analysis. Just search that phrase with forex in front and you will find millions of resources. Then educate yourself up on fundamental influence on the currencies. Everyone finds there own knack at trading the forex market so don’t blindly fall into a so called forex guru’s marketing trap.
The Forex factory can esilay be labeled a social networking site, much the same as Facebook or Twitter. The key differences are the information provided is only related to currency trading on the Forex market, and the only people networking are traders and currency brokers. In currency trading there exist too many brokerage firms, banks, online scams, and other agents to attempt to push or pull a given investor to buy or sell a given currency. What the Forex factory does is unique. It lets real traders voice their opinions, their strategies, results, anything they wish regarding their currency trading. Once more the site is self-policed by its own users significantly eliminating unscrupulous brokers or scammers from getting into the mix. When getting started trading currencies in the Forex market, remember this golden rule in order to keep your head and portfolio above water: information is king. The more information, especially unbiased forums such as the Forex factory, means you are armed with that much more knowledge and know how before entering a notoriously volatile trading environment. Was this answer helpful?