4x for forex

Before we go any further we are going to be 100% honest with you and tell you the following before you consider trading currencies.

All Forex traders lose money on trades! Yes we mean " ALL "

Unless they follow the right money management rules and having right psychology mind set...

These few forex trading rules in the currency market will prepare you to the sucess forex trader. With the right psychology and trading habit and techniques, forex beginner can also consistently profitable month after month in the forex trading market.

1. Make sure you use only the money that you can afford to. Be sure that you can afford to lose all of them without having affect your daily life. - Forex trading rule 1. If you can not afford to lose this sum of money, you should not trade forex. This is the 1st and most important trading rule.

2. Never put emotional feeling in the game. Do not take revenge on the market in the event that you have make a lost. If your emotions rule you, you will never able to be a successful trader.

3. Keep discipline in mind. If you have a bad trade that day, you cut your loses and keep moving forward by following your trading plan. Lack of discipline is the biggest reason that trader don't find success.

4. Make full use of all your charts. You should read all your yearly, monthly and weekly charts to help identify the support and resistance line. We will cover it the later chapter, move on..

5. Keep your trading system simple. The more complicated a trading system is, the harder it is to trade with. Simple trading rule will helps you make better trading decision.

6. Test out the demo version. Go live only when you acquire enough skill.

7. Good trading is all about knowledge, do not rely too much on news. Technical chart indicator gives you simple way to process data into useful information.
So, What is Forex? Forex is the short form of foreign exchange. ( Currency exchange )

An introduction of Forex market.

What is Forex? Forex market is the market where one currency is trade for another, it is a largest market in the world with an average of US$3 Trillion dollars changing hand each day. The main centers for trading are Sydney, Tokyo, London, Frankfurt and New York. As such, forex market is a 24-hour market.

Currency trading is always trade in a currency pair, for instant, the Euro/US dollar, or the GB pound/Japanese yen. The most commonly traded currencies are EUR/ USD, USD/JPY, USD/CHF and GBP/USD.
US Dollar

USD
British Pound

GBP
Euro

EUR
Japanese Yen

JPY
Swiss Franc

CHF
Canadian Dollar

CAD
Australian Dollar

AUD
New Zealand

NZD
What is forex trading? Introduction of Forex Currency symbols


Currency traders make profits over the small fluctuations in exchange rates. In the Forex market, you can buy or sell one currency for another. When you buy a currency, you are said to be "long" when you sell a currency, you are said to be "short". For example, in the GBP/USD pair. When you go "long", mean you buy GBP and sell USD, when you go short, you sell GBP and buy USD. As the value of one currency rises or falls relative to another, trader's investments increase or decrease in value accordingly.
The Seven Most Traded Currencies in FOREX

Currencies are traded in dollar amounts called “lots”. One lot is equal to $1,000, which controls $100,000 in currency. This is what is known as the "margin". You can control $100,000 worth of currency for only 1,000 dollars. This is what is called “High Leverage”.

Currencies are always traded in pairs in the FOREX. The pairs have a unique notation that expresses what currencies are being traded. The symbol for a currency pair will always be in the form ABC/DEF. ABC/DEF is not a real currency pair, it is an example of a symbol for a currency pair. In this example ABC is the symbol for one countries currency and DEF is the symbol for another countries currency.

Here are some of the common symbols used in the Forex: