The foreign exchange market – also frequently called Forex – is an open market that trades between world currencies. You can buy one currency, like the Japanese yen, and then watch the markets to see if there is another currency you should trade it for, like the American dollar. If they are correct, and trade their yen for the American dollar, they could make a profit.
Trading with your feelings is never a solid strategy in regards to Forex trading. This will help to keep you from making weak or quick impulse decisions, which can lead to big losses. While it is not entirely possible to eliminate emotions from trading, trading decisions should be as logical as you can make them.
While you may find a lot of great advice about Forex trading, both online and from other traders, it is important that you follow your intuition. While others’ opinions …