7 Forex Trading Tips for Beginner Investors

Want to start getting into Forex trading? Forex is extremely hard for beginners but the payoff is great, Forex trading refers to the trading of liquid foreign exchange currencies on the open market, it is one of the most liquid, widely used trading markets in the world, forex covers almost every single tradable currency in the world and it is in the trillions of dollars in tradable and liquid money in every year it has been available. Which is why it is a great investment opportunity to get into, however there are a couple of tips that I’d recommend to a beginner noobie investor before jumping in, lest you get burned:

  • Learn the basic things first

Watch a lot of YouTube videos from Forex training sites, learn how the market works, understand all the lingo and start understanding the basics of the market and how it works. Jumping in with little to no experience is a terrible thing to do and many will get burned because of this.

  • Don’t freak out over small dips

Freaking out is a natural for beginners, small dips in the market happen frequently and will often throw beginners off of balance, which is why people should never freak out if a small dip in the market happens, make sure to stay calm and in control.

  • Be realistic with your goals

No, if you put in 3 grand and expect to be able to go to the beach in Thailand with all your money and live a life of luxury, you are completely, 100% wrong. Forex is not a solve all problems solution, it’s not easy and you certainly DO need to learn the market. If someone tells you you don’t have to, they are probably trying to scam you.

More tips:

  • Don’t trade at high volumes
  • Don’t place stop losses too close
  • Don’t go in without any understanding of the charts
  • Focus on the price