How is the best way to trade forex?

@Bram77 (27)
Indonesia
March 5, 2010 6:28am CST
I come to the conclusion that it's just a game of luck, but it's hard to just easily give up and then quit! I need to know the best way (I'm a newbie)! Do you know the answer? ...
1 response
@Wismay (2037)
• India
5 Mar 10
Hi Bram77! Forex is not a game of luck. Though sometimes one can make a lot of money through forex just by luck but if one wants to use forex for a long time and want to earn consistently then it takes more than just luck. Forex trading needs a lot of things to be understood. It is true that many trade forex like a gambling. But they are essentially gamblers at core and not investors. So gamblers at heart always want to gamble at everything. So they do it with forex. But a serious forex trader will learn things about forex, how the market works, what factors affect the market, and specific currencies and the relationship between them, how the trading on some particular days is better than other days, technical analysis, fundamental analysis etc. For a start, I would like you to refer 'babypips' site. That is a great site for anyone who wants to start forex trading or a newbie. Wish you success in forex trading! Happy Mylotting!
@Bram77 (27)
• Indonesia
8 Mar 10
Thanks, Wismay. I guess I'll have to learn more and more. I need to learn all of those analysis ...