There is something about Forex trading that should never be forgotten: there are always risks, and they can be huge. This may sound too obvious, but in the practice, people seem to act as if they were trading with virtual money, and tend to forget about the danger that can involve the lack of expertise in this field.

It is not difficult to confirm that Forex Market has a great risk/revenue relation, which means that it can be a risky market, but also has the highest potential revenues ever seen. However, there are some tips to take into account before getting into Forex trading.These tips, no matter how helpful, are not and do not intend to be the “Holy Grail of Forex trading”...because there is no such a thing.

First of all, when trading Forex, there are some tools that we should always have with us, and that includes: the trading platform, an online currency prices feed in real time, a graph that shows the evolution of a certain currency pair, the latest financial news, and an economic calendar showing the most relevant events.

It is also important to be extremely cautious when choosing a broker for our trading experiences, and one of the main aspects to keep in mind when evaluating a Forex broker is the customer support service. This should be tested before opening a real account; chances are that if they are unable to respond accurately at this stage, they will not be able to do it then..and the consequences will be much worse. It would be wise to e mail them, call them, and chat online with them, just to check their responsiveness.


Also, when looking for a broker, there are some aspects that should be carefully studied, such as: spread conditions, customer support contact methods, leverage (ideal: 100/1), types of accounts, minimum required to open an account, functionalities, ecc. Slippage should be avoided at all costs. It could also be helpful to obtain information about the broker’s regulation, the banks they work with, payment details, and everything else we can find out about them.

There is a curious fact about Forex trading. There is always someone who claims to have developed a great strategy. However, there are no universally accepted Forex strategies. It is advisable to create one of our own.There are as many trading strategies as traders, and it is never wise to try to copy someone else’s strategy, because it will never work exactly the same. No one has the universal recipe for success..but we might have our own.

Last, but not least, it is much better to trade when the market is busy. For example, Monday mornings, or when two different sessions are overlapping (3 4 a.m EST) and (8 12 a.m EST).

This article intends to be a little guide for beginners. It covers the basics that every Forex trader has to know. However, Forex market has a constant growth, and changes at a great speed, so there is always something new to learn about it.