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FOREX #1 INTRODUCTION FOREX #1

There are many different ways of trading forex, such as spot forex, futures, options or spread-betting. 
The most significant difference between spot forex and futures is that spot forex co This gives rise to another unique aspect of spot forex the24-hour non-stop action; this is one major reason why enjoy trading spot forex.
With round-the-clock trading a person in any time-zone can trade spot forex at any time whether during the day or night.
When  started in forex, Could only find one book on forex trading. Forex was notas popular as stocks or  options trading, so there were very few articles in magazines that focused on this field. Spent the first one and a half years learning how to trade forex and honing my skills on a demo account, before progressing to a real account, when  became consistently profitable. The breakthrough came when  incorporated
fundamental and sentiment analysis into my predominantly technical-based analysis.
Even though  was able to dedicate myself to full-time trading, Found the initiallearning curve to be extremely  steep, as  had no mentor and had to learn all theways of losing in the market before  learnt how to profit from it. Hope that through this book, aspiring and current traders are able to fast-track their learning, and greatly improve their trading performance.
The forex markets have the promise of fast action and huge profits, but the risks are also great. It is estimated that over 90% of forex traders end up losing their tradingcapital. The good news is that most of these losses can be prevented by taking thetime to learn how to trade the forex markets and by implementing  careful money management.
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HOW TO CHOOSE A BROKER The forex broker that you use can significantly affect your trading success. There are two types of forex brokers: market makers and ECNs. But in practice things are not so clear-cut – there are market makers out there who falsely market themselves as not having dealing desks, while there are also some brokers who claim to be true ECNs when they are not. The choice of broker must be an individual decision, because everyone has different needs and preferences. Both new and existing traders should carefully examine the practices and policy contracts of brokers, and be up-to-date with new information on brokers. Below are some points that you might want to consider when selecting a broker. You can use it as a rough guide to narrow down some candidates that match your own needs.
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Forex Trading Is A Serious Business Forex trading must be seen as a serious business, not just a casual roll of the dice or a leisurely pursuit. If you approach trading as a means of getting your dose of adrenaline, do yourself a favour by staying away from it . Serious money demands serious work. Winners from the trading arena take a nononsense approach to trading – they take care of their P&L (profits and losses), enter only into high probability trades and keep meticulous record of all their trades. Both serious and casual traders, of course, dream of making it big in the forex market, but it is not the goal that counts, it is the preparation and dedication that is important. Forex trading should be considered and treated as a serious business, just like other types of businesses. Approaching trading from the perspective of a shrewd business person can greatly tilt your chances of success to your side.
RISK DISCLOUSURE Trading forex involves substantial risk, and there is always the potential for loss. Your trading results may vary. No representation is made that any information in this book will guarantee profits or prevent losses from trading forex. You should be aware that no trading strategy can guarantee profits.
MARKET SENTIMENT The forex market is heavily driven by market sentiment, and it is market sentiment that influences traders’ decisions by triggering certain emotions and thoughts. Find out what defines the current market sentiment, and how you can incorporate market sentiment analysis into your trading.