This guide serves as a primer about foreign exchange trading from the perspective of a short term market timer. It contains more than just what a pip is, it goes into details that take years to learn through trial and error.
After completing it, you should better understand forex position sizing, how margin works and how to effectively place orders. You should also have a better perspective on how the retail forex business works in general and how unfavorable it is toward small traders.
Showing a consistent performance in this space is not impossible, but is much more difficult than the brokers and marketers want to you believe. Do not forget, just like in any other market, it is not about tools, computers, technology, robots and software. It is about human psychology.
We have covered basics only and have not touched on strategies, risk management and psychology. Those are topics that demand a respective guide of their own. After familiarizing yourself with this guide, you should be able to make a more informed judgement about whether forex trading is more in line with your personal goals, objectives and risk profile.
We will continue to build on this guide as we collect feedback from our community. If you have any questions, concerns or feedback, please feel free to contact us at [email protected]
Thank you for taking the time to better understand our philosophy and perspective on the forex markets. Remember flexibility and patience are the skills that widen the possibility for better trades. Trading in any market is not an intellectual competition, it is the arena where success comes to those who can conquer themselves.
The Seeking Cryptos Team.