INTRODUCTION AND FACT ABOUT FOREX TRADING
There have been many opinions about Forex, many believe that Forex is a danger Zone that can take away all your money and put you into debt. Some believe that trading Forex is like a goldmine or hitting jackpot. Well, I do not know the school of thought you belong to, but what I am telling you is that Forex is an outstanding goldmine only if you know the rules. However, if you dabble into Forex without adequate knowledge on the trading rudiment, then you are spelling financial doom for yourself. It can be traded 24 hours from Monday to Friday.

What is Forex?
Forex, an acronym for foreign exchange is the exchange of one nation’s currency for that of another nation’s currency through the aid of an electronic medium (the Compute) via the internet. It is by far the largest financial market in the world involving trades between individuals, large banks, currency speculators etc. the average daily trade in the global Forex market is currently $2.5 trillion changing hands.

Advantages of Trading Forex
 Liquidity: This means that with a click of the mouse, you instantaneously buy and sell at will. You are never struck in a trade. You can even set the online trading platform to automatically close your positions at you desired profit or close the trade if it is going against you. Forex yield faster and better returns.
 Equal profit opportunities when you buy or sell: Forex like almost no other business proffers a 2-way profitability you gain when you either buy or sell.
 In Forex trading, there is no clearing fee, commissions, expiring contracts or any charges before taking your profits. You can earn between $100-$5000 per day in Forex.
 Forex is a clear and fair business as there is no manipulation against small traders like you.
 Less money is needed to start and maintain a trading account.
 Future of Forex is guaranteed. Forex trading will only stop when every country in the world decides to use one currency as legal tender.


How Is Forex Traded And Currencies Being Traded.
Below is the list of major currencies being traded in the Forex market
-Great British Pounds (GBP)
-United State Dollar (USD).
-Japanese Yen (JPY).
-Swiss Franc (CHF).
-Euro (EUR).
-New Zealand Dollar.
-Canadian Dollar (CAD)
-Australian Dollar (AUD).etc
Forex is traded in currency pairs. You either buy or sell one currency in relation to the other. When the prize of the currency is going up you buy. You sell when the prize is going down. One wonderful and unique thing about Forex trading is that you make gain when you either sell or buy. Fundamental and technical analysis help traders determine the market trend; know when to buy and when to sell.

Trading (Winning Strategies)
 You must have adequate training and practice.
 Ensure a minimal percentage of risk.
 Have a trading strategy, not feeling
 Have a realistic weekly or monthly target
 Never stop reading, learning updates your knowledge.
 Do not be fearful: be courageous and well composed during trading.
 Do not be greedy: Most of financial doom in Forex trading today is as a result of greediness.

Major Reasons Why People Loose Money In Forex
1. Greed: Do not be greed by setting up hard to realize financial goal for your self. Do not think of gain only; think of possibility of loosing out when you take wrong step.
2. Power failure: Power failure may cause you to loose control of your trade, hence resulting to loss. So make arrangement for alternative power supply beside public power supply.
3. Poor network facilities: Poor network can also make you to loose control of your trade. Go to reliable cybercafés or get good internet connection for yourself. Avoid using free browsing software for Forex trading, it is risky.
4. Inadequate knowledge: Do not rush into trading real account or without proper training. Start with demo account of the amount equal to the amount you hope to use for your real account.


Handling Forex With Risk Management Strategy
There is no risk in Forex if only if you apply the risk management
Strategies.
1. Do not expose more than 3% of your trading capital; be grabbing the money small by using small lot size.
2. Exit the market at profit targets, discipline is the key.
3. Limit your losses by using stop loss. Please stop loss and take profit accurately.
4. Analyze while trading as you can’t stop reading and learning about Forex.
5. When you are not sure, stand aside, do not trade.

In my subsequent posts, I will take you through Forex terminologies, fundamentals and technical analysis, trading methods/systems, 14 tested guides to making it in Forex trading etc.