How difficult and technical is Currency Trading?

New to trading and a little wary of starting , would like to know the following :

1) How difficult is currency trading ?
2) Can you really make money trading ?
3) How many currencies does one suggest I trade as a beginner
4) As a beginner is swing trading the way to go
5) Does taking a currency course make a difference ?

Only Professional people to answer please !!!


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One Response to “How difficult and technical is Currency Trading?”

  1. guru_matt says:

    1) How difficult is currency trading ?
    Very.

    2) Can you really make money trading ?
    Yes – you can also loose money, which is not a pleasant experience

    3) How many currencies does one suggest I trade as a beginner
    Just pick one – say USD/GPB, USD/EUR, USD/AUD or USD/CAD

    Become familiar with how it moves over a long term trend & how it reacts to news/events etc..

    4) As a beginner is swing trading the way to go
    Swing trading is for taking long term positions. You may find that day trading is more your thing – every one is different. Give a few strategies ago in your practice account.

    5) Does taking a currency course make a difference ?
    It may – as long as its good, you are really motivated, and you practice what they teach.

    I would suggest that you open up a demo account & start trading with practise money first. Borrow a couple of fx trading texts from you local library and see if you can both stay interested and trade profitably.

    If your still doing it after a couple of months, then you will get the most out of your investment. If you’ve given up the ghost, then its probably not for you & you should save your money.

    Most people who do those courses are not trading in 12 months time. Why? because they were not motivated enough in the first place – after a few looses a lot of people give up. Expect to loose money for the first 12 months – it takes that long for most to learn.

    * 10 hours ago
    * – 4 days left to answer.

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