Learn Forex fundamentals, statistics, and risk management.
In any business or moneymaking venture, preparation and
foreknowledge are the keys to success. Without this sort of
insight, the attempt to make a profitable financial decision
can only end in disaster and failure, regardless of your level
of motivation and determination or the amount of money
you plan to invest.
In the stock market, this rule applies to the nth degree, as
you are investing your own money in what could be
• Understand what stocks and Forex are before placing trades
• Learn how currency conversion (cross-rates, pips) affects gains and losses
• Use statistics and market outlook concepts to make educated guesses
• Apply risk management tools like limit orders and stop orders
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