Find out as much as you can about forex before investing in it. Your demo account is an excellent opportunity to do this. Read on for some valuable Forex trading advice.
Study the financial news, and stay informed about anything happening in your currency markets. The news has a direct effect on speculation, which in turn has a direct effect on the market. Setup an alert from the major news services, and use the filtering feature of Google news to act fast when there is breaking news.
Don’t use your emotions when trading in Forex. Feelings may lead you to make trades that you later regret. You need to be rational when it comes to making trade decisions.
Watching for a dominant up or down trend in the market is key in forex trading. You will have no problem selling signals in an up market. Choose the trades you make …