5 Top Forex Trading Tips to Being a Successful Trader

Thanks to the long-in-the-tooth bull market, many investors are turning to Forex (or the foreign exchange market) to seek additional gains. Unfortunately, a lot of inexperienced and undisciplined investors, believing Forex is easier than the stock market, have lost a lot of money. The best way to minimize losses and maximize gains is to take Forex trading courses from the professionals. Having said that, the following can be seen as an introduction to the area of Forex trading, to help you determine if it’s an opportunity you’d like to benefit from using some simple expert tips in conjunction with professionally run trading courses.

currency exchange

Is Forex Right for You?

While the S&P 500 has been trading in a tight range since the beginning of the year, it is still trading near record highs. In fact, the North American markets are all trading near record highs. Even the energy-heavy TSX is just 300 points below its all-time high.

That said, many believe the current bull market, now in its sixth year, is sorely overvalued and ripe for a correction. Investors looking for other avenues of growth that are seemingly less risky have gravitated to Forex.

Investors are attracted to Forex trading for many reasons; its high liquidity, 24/7 schedule, and easy accessibility are just three. Unfortunately, Forex trading, like any investing strategy, has its advantages and disadvantages.

To be a successful Forex trader, you need to have a comprehensive understanding of the economy, geopolitical events, and other factors that impact global currencies on a minute-by-minute basis. You also need to have discipline, focus, objectivity, patience, and confidence.

Below are five Forex trading tips that can help you maximize earnings potential while trading global currencies.

Top 5 Forex Trading Tips

  1. Understand your needs and risk tolerance: Like any investment strategy, it’s important to have a clear vision of your needs and risk tolerance. To profit with Forex, you need to study and analyze your own financial goals. You also need to be able to handle the day-to-day stress of Forex. Having clear goals will make it easier to determine whether your risk/return Forex investing strategy is working.
  1. Understand that Forex is not a get-rich-quick scheme: If you have visions of retiring in a year from trading currencies, then Forex may not be for you. Forex requires lots of work, patience, and discipline. Don’t listen to anyone who tells you otherwise. If it was that easy, everyone would be doing it.
  1. Know that Forex is about probabilities and risk: With Forex, you profit by trading the fluctuations in currency pairs. And currencies fluctuate against each other based on volatility. Traders need to learn how to read and interpret the factors that impact the way currencies move.
  1. Be prepared to always be learning with Forex: There is no one-step process to mastering Forex. The principles of trading currencies changes in step with the financial world. The best Forex traders are those who like to stay up-to-date with the markets, love to learn, analyze their work, and test their theories and strategies.
  1. Study Forex at Learn-To-Trade.com Inc.: Few would invest in the stock market without seeking some advice or doing research. Yet when it comes to Forex, most seem content to trouble-shoot and learn on the go. This is the best way to suffer losses and get discouraged. If you want to become a confident Forex trader, you need to take the right Forex trading courses.

Learn-To-Trade.com Inc., Toronto’s Leader in Forex Trading Courses

The best way to succeed with Forex trading is to learn from those who understand the industry. As Canada’s oldest private financial educator, the professionals at Learn-To-Trade.com can help teach you how to analyze global currency pairs and both profit and protect capital losses.

Thanks to Learn-to-Trade.com Inc.’s hands-on approach, Members participate in simulated Forex trading and have real-time access to the global Forex market using the same state-of-the-art software and services professionals use.

For more information on Learn-To-Trade.com Inc., visit the company’s web site at www.Learn-To-Trade.com. You can also contact the company by phone at 416-510-5560 or by e-mail at info@learn-to-trade.com.

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George Karpouzis is the co-founder of Learn-to-Trade and has been personally providing education and mentoring to over 3000 members since 1999. George has been trading in the stocks, options, futures and forex markets using technical analysis since 1986. With the help of advancements in trading technology the Learn To Trade program is now accessible worldwide. His background and passion for teaching brings an invaluable asset to our members. George is constantly striving to improve the program content and develop new strategic relationships for the benefit of the members. Add me to your G+

Latest posts by George Karpouzis (see all)

Testimonial 1

Don’t hesitate jump into it right now. You will be glad you did!

Susan C

Learn To Trade
4.0
2014-08-19T04:45:40-04:00

Susan C

Don’t hesitate jump into it right now. You will be glad you did!

Testimonials 2

The ongoing support has been the reason for my success

Patrick L

Learn To Trade
4.0
2014-08-19T04:46:33-04:00

Patrick L

The ongoing support has been the reason for my success

Testimonial 3

I wanted to let you know that I had taken your course in the fall of 2013. I took your advice and used demo accounts for the last quarter of 2013. I switched to real money trading account in the Near Year, when I finally felt comfortable. Following the lessons taught to me by you (don’t jump on a moving train, peaks and valleys, EMA..etc), I wanted to let you know that I have been successful beyond my own expectations. Thank you very much – taking the Learn-to-Trade course was, by far, the best decision I made in my business career.

Steven R

Learn To Trade
4.0
2014-08-20T02:56:18-04:00

Steven R

I wanted to let you know that I had taken your course in the fall of 2013. I took your advice and used demo accounts for the last quarter of 2013. I switched to real money trading account in the Near Year, when I finally felt comfortable. Following the lessons taught to me by you (don’t jump on a moving train, peaks and valleys, EMA..etc), I wanted to let you know that I have been successful beyond my own expectations. Thank you very much – taking the Learn-to-Trade course was, by far, the best decision I made in my business career.

Joseph L

The past options and forex tutorials taught by George were very helpful. I find these tutorials invaluable for a busy person like myself. I was able to keep myself up to date and on track ready to continue the learning process. Thanks for all the help and keep up the great work.

Joseph L

Learn To Trade
4.0
2014-08-20T10:36:37-04:00

Joseph L

The past options and forex tutorials taught by George were very helpful. I find these tutorials invaluable for a busy person like myself. I was able to keep myself up to date and on track ready to continue the learning process. Thanks for all the help and keep up the great work.

Harley S

The course is amazing. Where were you 30 years ago?

Harley S

Learn To Trade
5.0
2014-08-20T10:37:39-04:00

Harley S

The course is amazing. Where were you 30 years ago?

Partick M

I learned the basics I needed to trade successfully.

Partick M

Learn To Trade
4.0
2014-08-20T10:38:34-04:00

Partick M

I learned the basics I needed to trade successfully.

Iouri G

I like making money. I’m very happy, so far so good

Iouri G

Learn To Trade
4.0
2014-08-20T10:39:27-04:00

Iouri G

I like making money. I’m very happy, so far so good

Akos B

I learned things it would have taken me years to figure out

Akos B

Learn To Trade
5.0
2014-08-20T10:40:05-04:00

Akos B

I learned things it would have taken me years to figure out

Robert B

There is always someone ready to answer my questions.

Robert B

Learn To Trade
4.0
2014-08-20T10:40:59-04:00

Robert B

There is always someone ready to answer my questions.

Uldus V

I was impressed with the course’s professionalism and enthusiasm.

Uldus V

Learn To Trade
5.0
2014-08-20T10:41:40-04:00

Uldus V

I was impressed with the course’s professionalism and enthusiasm.

Dean K

I wish I knew about trading as a business years ago!

Dean K

Learn To Trade
4.0
2014-08-20T10:42:24-04:00

Dean K

I wish I knew about trading as a business years ago!

Peter P

Learn to Trade provided me with strategy, self-confidence and discipline

Peter P

Learn To Trade
4.0
2014-08-20T10:42:57-04:00

Peter P

Learn to Trade provided me with strategy, self-confidence and discipline

Shelley P

I took your course in 2008 and loved it. Since then I have been using what I learned at Learn-to-Trade to nicely supplement my pension income. Wanting a carefree type of trading, I have for the most part just sold options and made a monthly income which is a nice addition to my pension. I know I never would have made this kind of trading income without Learn-to-Trade. Thank you!

Shelley P

Learn To Trade
5.0
2014-08-20T10:34:39-04:00

Shelley P

I took your course in 2008 and loved it. Since then I have been using what I learned at Learn-to-Trade to nicely supplement my pension income. Wanting a carefree type of trading, I have for the most part just sold options and made a monthly income which is a nice addition to my pension. I know I never would have made this kind of trading income without Learn-to-Trade. Thank you!

Amir

Hi George,

I just wanted to thank you again for the amazing work on the tutorials especially Options trading.   Prior to joining, I had underestimated the quality of the trainings but they certainly far exceeded my expectations. Only I wish I’d found you 5-10 years ago!
Learn To Trade
5.0
2016-10-07T08:56:52-04:00
Hi George, I just wanted to thank you again for the amazing work on the tutorials especially Options trading.   Prior to joining, I had underestimated the quality of the trainings but they certainly far exceeded my expectations. Only I wish I’d found you 5-10 years ago!
4.0
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