Currency Trading

I began trading currencies about seven to eight years ago. I was looking for a way to earn fast money from home without putting in much effort. I opened my first currency trading with FX Solutions, and promptly lost all the money I had in the account. Thankfully, I had only begun with the minimum requirement for opening the account, which was a $100.

I did not know anything at the time about leverages, margins, moving averages, nor even how to read the trendline and charts. Subsequent attempts also met with failure - I think I must have cleaned out my account about 3 times before I started to make consistent money!

Since then, I have devoted time to observe and learn the currency markets. And today I am happy to say I can make money doing currency trading on a consistent basis.

Still, currency trading is risky because the markets are volatile, and the up and down trends can change very quickly. Even an experienced trader can make mistakes, so if you don't know what you are doing, chances are you will end up losing, and the getting disillusioned about the whole trading business.

Recently, I opened a sub-account for my younger (teenage) brother with the intention of introducing him to the basics on currency trading. Since then, I have observed him making several mistakes, especially in questions of when to open positions, when to close, what is the right size of units to place, confusion about what the different moving averages mean, the MACDs say etc.

So I thought to create this blog to discuss the principles of successful currency trading, as I teach my younger brother, in the hopes it benefits another beginner currency trader out there. I am particularly hopeful that women readers benefit from my blogs because I don't find too many women with similar interests in currency trading.

I hope to discuss the common mistakes beginners make, show my trades, my wins and my losses, and analyze the reasons why it is so.

Happy reading.