It’s possible to make a fortune in the foreign exchange and forex markets, but it is imperative that you learn all you can first so that you don’t lose your money. You will be able to do this when you are practicing with a demo account. These are some suggestions to get you going and help you learn more.

Fores is more dependent on the economic climate than futures trading and the stock market. Read up on things like trade imbalances, fiscal policy, interest rates and current account deficits before you start trading forex. Your trading can be a huge failure if you don’t understand these.

Learn about one currency pair, and start there. When you try to understand every single pair, you will probably fail at learning enough about any of them. Find a pair that you can agree with by studying their risk, reward, and interactions with one