Currency Trading Strategy Ideas

These are my currency trading strategy ideas that I have developed from people constantly asking me the same questions over and over again. These should help you develop the proper behavior to make profitable trades over the long term.

How should I look at currency?

You need to look at currencies as pairs and not just single entities. You have to take into consideration that money is fiat. What that means is that it's just paper. An apple is worth what it is because it has value. Paper money is just worth what paper is. The other value comes from economic stability, populations belief in the government, etc. Since all these points don't actually make value, and essentially is all the same thing (paper), currency needs to be compared against one another. When you compare them, you're going to get the proper value.

How do I find the bargains in forex trading?

There is no such thing as bargains in this game. What you need to start looking at is how much you can sell a currency for in the future. That's the most important point. You don't make any money from buying currency, you make it all from selling. You need to get out of this "consumer" trap where you think cheaper is better. Selling price is the better. Buying an expensive currency that you can sell for 10% more in the future, is better than buying a cheap currency that you might be able to sell for 5% more.

How do I get over the stress of trading?

Being a confident trader is probably one of the most important characteristics to have. I understand though that becoming confident requires positive experience at doing it. The best thing you can do is take advantage of your demo account, which allows you to make real live simulated trades. You can do this until you're confident enough to use your real money.

This is the best currency trading information you need to incorporate into your head today. I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.

Currency Trading Made Easy

Currency trading made easy is my objective for this article. I want to help you look at trading, not as an over complicated gamble, but an easy to understand routine of behaviors. If you learn to harness specific behaviors over the long term, you'll some day find profit.

• You're Trading Pairs: You got to always remember that. You're not trading the US dollar or the Canadian dollar. You're trading pairs of currency. The value of a currency is only useful to you if it is compared (or contrasted) against another currency. When you see USD/CAD = 1.0150, you know that is the value of the US dollar compared to the Canadian dollar.
• Cheap Trades Are A Fallacy: As regular consumers in society, we are always looking for a good buy, but in that case we're buying to use for ourselves. In currency trading, you're buying with the intention of selling. Therefor your main concern should be the exit(sell) price in comparison to the buying price. For example, a very high priced currency that is expected to go up 10% more in value is better to buy than a cheap currency that "might" go up 1%. It's like flipping houses. A cheap house is a good buy, but if you can't get a good selling price in a few months, than there really is no point in buying.
• Be A Confident Trader: This is tough at first because you don't usually get confident until you have had some positive experiences with it. The best thing you can do to get in that state is to practice with your demo account. These demo accounts allow you to make trades without using money. It's the best way to get a real life simulator without investing a cent. Now, you should be able to do hundreds of trades to gain confidence, than use your real money.

This is my advice for foreign exchange traders. I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.