Sunday, June 22, 2008

Forex Trading

Into my thirties, I realized that although I am highly educated with three degrees from ivy-league schools, I have been trained for nothing that brings me the big bucks. Wishing to attain a lifestyle that does not require me to work 70 hours a week as a modern-day slave, I picked up trading - stocks, options and forex. What I like about trading is that it is something anyone can do so long they are willing to spend the time to learn. Today, I am starting to see the fruits of success in my trading. And I created this blog to transmit information on what I have learned to others interested in the same areas. This will also help me solidy my strategies. Being a female trader, I am particularly hopeful that women readers benefit from my blogs because I don't find too many women out there with similar interests in forex trading.

I started trading currencies about three years ago. I was looking for a way to earn fast money from home without putting in much effort. I opened my first forex trading with FX Solutions, and promptly lost all the money I had in the account. Thankfully, I had only begun with the minimum requirement for opening the account, which was a $100.

I did not know anything at the time about leverages, margins, moving averages, nor even how to read the trendline and charts. Subsequent attempts also met with failure - I think I must have cleaned out my account about 3 times before I started to make consistent money!

Since then, I have devoted time to observe and learn the forex markets. And today I am happy to say I can make money doing forex trading on a consistent basis.

Still, forex trading is risky because the markets are volatile, and the up and down trends can change very quickly. Even an experienced trader can make mistakes, so if you don't know what you are doing, chances are you will end up losing, and then getting disillusioned about the whole trading business.

So to avoid that, let's get educated readers!

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