In the forex trading world, everyone have their own kind of strategy that works for them (hopefully!). Sure, there are several different strategy guides online, some of which are full of great, useful information, but somehow we tend to take that information, use it, but make our own tweaks to it resulting in a more personal strategy. That is what so good about Forex trading. It makes it much more diverse than for example online gambling, where there are mathematically calculated strategies that are optimal for each and every game, and yet they don’t even give us the upper hand in the game.
So when I first started trading currencies, I didn’t know much about it. I had read some guides, but they were mainly about how to actually execute a trade and not so much about strategy. It was not until after a few months that I actually started to get in to the theory of it all, and that is also the point where I first started to make good profit of trading.
As for theory, there are many ways to find good information. Thankfully enough, most forex brokers today offer basic strategy guides and articles on how to turn things in your favor. There are also websites such as forextrading.pm, which isn’t a broker, but a portal to currency trading which helps people to get going as well as providing recommendations of good online forex brokers with a good reputation. There’s another website called cambio divisas which is targeted towards spanish speaking traders.
I think the guides re all well and good, they are great for picking up the basics and get going butif you ask me personally where I have gained the most valuable knowledge, the answer is simple: from fellow traders! There are certain forex brokers out there which have put great deal of effort in to making their platforms into a social network as well as a trading centre. This means you can get access to see what other people are trading as well as exchanging tips on good future trades, but it’s also a great place to network and make new friends. If you are interested in currency trading, wouldn’t you like to have some friends that have the same interest?