“A fool is easily parted with his money”
I will explain to you the best I can on why I think you should learn about forex fromhome instead of paying someone to learn about it.
If you are diving into the world of forex, it’s important to learn as much as you can. Learn forex online is a place where you can read news and info that has been carefully selected for you, a newcomer to the world of forex.
Trading Forex provides a great opportunity, but it is not a get rich scheme. Yes, some people make a living trading forex, and maybe one day you can to, but you can also think of forex as a wealth builder, like an investment only with potentially much higher rates of return (and the corresponding risk involved) than putting your money in the bank or shares (did I say higher risk than shares? the last year may disprove this).
In light of this, learning as much as you can is a wise move, because whilst forex involves skill, if you don’t arm yourself with knowledge it can be just like gambling, and no-one likes to lose money. Sure it’s possible to rush straight into trading real money, but the potential to lose money is high if you don’t know what you are doing, and the reason most new traders fail is because they don’t spend enough time learning. Even the best traders in the world are constantly learning and searching for new ways to improve, to get an edge, and you should to.
So please look around, the information here is constantly updated with the newest tools and news about the online forex industry, and if you like what you see subscribe to keep up-to-date with the forex world.
What is a scalping strategy?
A scalping strategy is a short term forex strategy. Basically what it entails is making very short term forex trades, often keeping trades open for only a matter of minute. The goal of this method is to make lots of very small profits, often in the region of only a handful of pips.
As you can imagine, if you are only going to make a few pips profit per trade, then you are going to have to have a significant amount of money on the line in order to turn any sort of reasonable profit, and this is where the danger of a scalping strategy comes into play.
If you’re trading forex at home and want to implement a scalping strategy, you are going to have to trade with a large margin. The larger the margin you have, the more capital you will need in your account to cover the trade if it moves in the wrong direction. If you don’t have enough capital, your trade could be automatically closed and you could lose your entire account. Not good.
For this reason, scalping strategies are not really recommended to people who have only just begun to learn forex. If you are just starting out, why not try our ultimate guide to forex, which offers a quick overview of how forex markets work.