1.Practice before you start trading with real money. Could you imagine an athlete going to the Olympic Games without preparation and training? Make sure you have practised your trading on a demo platform and get comfortable with it and your trading style before committing real money.
2.Know what moves currency markets. Like any asset class, there are a number of factors that drive currency performance. A country’s macroeconomic situation can have a major influence – economic data releases, policy decisions and political events can change an economist’s outlook on the country, and therefore the currency. There are also technical factors such as interest rates, equity markets and international trade which may have an impact. Spend time getting to know these. Read more…
