Foreign Exchange (Forex) trade is a multitrillion-dollar market. It is the world's largest market by value with transactions worth $5 trillion made on daily basis. Traditionally, this has been a market for large-scale brokers. However, with advent of web technology, more forex trading platforms coming online.
You do not need a huge amount of cash or have advanced technical skills to trade. You also do not need to monitor the trade full-time, thanks to automated transaction processing.
This book, 'Forex Trading: A Beginners' Guide to making money using Forex Trading Strategies' get you started in this world of trading currencies. You do not have to be on Wall Street to make it big. You can start small and grow big by simply following the proven strategies in this book.
This guide does not assume your level of knowledge. It starts with a beginners' approach by introducing you to what forex trading is all about and helps you to build upon the key fundamentals as you advance.
Like any other trade, there are always pitfalls, which, if not considered can derail you. In this guide, you will learn about some of the pitfalls, which cause many to quit prematurely when they were so close to success.
Failing to plan is indeed planning to fail. Forex trading is no exception to this rule. Many people fear to make plans simply because they are scared of them. You need not be scared. Plans are simple. All you need is determination and this book will guide you, step-by-step, to a simple forex trading plan that can achieve great success.
In every business, there are risks. It is dealing with risks that helps you eventually make a profit. This book provides proven forex trading strategies that not only secures your cash against risks but also enables you to optimize on its returns. To ensure that your own trading strategy works, you need to test it. This is one way of reducing risk. The book will guide you on various backtesting methods to ensure that your strategies not only work but also result in an optimal outcome.
One of the best ways of boosting your income is to automate it. Automation ensures that money works for you instead of you working for it. Forex trading has various automation techniques and platforms, which ensures that transactions take place securely with no need for constant supervision. This allows you to focus on other income-generating endeavors.
Lastly, it all starts with you - and, it will always end with you. What matters is how you position yourself to grab every great opportunity that comes your way. Personal improvement is a necessity to boost your potential and harness the best that there is in the forex market. This book ends by proposing to you various ways by which you can improve yourself so that you become a great forex trader.