How to Trade Forex And Keep Your Shirt

1. Step 1

   Analyze the market. You shouldn't make uninformed guesses. That's called gambling. You should learn what makes currencies move before you start to trade.

2. Step 2

   Get a practice account. You can trade a Forex practice account for free as you learn analysis and before you jump into actual trading.

3. Step 3

   When you do open a real account, only place money in it that you can afford to lose. And, when you start active trading, only invest a certain percentage of that money.

4. Step 4

   Follow a trend. When you're just starting out, learn what trends are and follow those. Sometimes you have to follow the herd before you start to lead.

5. Step 5

   Always trade cool and calm.

6. Step 6

   If you can't keep your emotions out of trading and don't have the time and resources to trade Forex, you could consider using an Automated Trading system for Forex.