For those wanting to Learn Forex Trading Online you will be entering a market where the tug-of-war between currencies has created the largest and most liquid market in the World.
This Over The Counter (OTC) market which runs 5 days a week 24/7 has an average trade volume of around $3 Trillion dollars that no other market can beat.
For those wanting to learn Forex, don’t let this daunt you. It’s very easy to dive straight in with as little as $200 and automatically start reaping the rewards of this high leverage market of 100:1 and potentially more.
However- # Remember: Leverage is Double-Edged Sword. Temptation is always high and the reality is often different.
If you really do want to learn FX trading online and you are serious about this business you must understand that there are 2 types of traders. The mechanical and the discretional.
Discretional: A discretional trader will consider their own personal power of judgment at the time of trading.
Mechanical: A mechanical trader will adhere to a strict set of rules and not fray from them.
Discretional: A discretional trader has no way of evaluating potential success
Mechanical: This approach will consider the likelihood of success based on being able to make the correct decisions.
In essence a discretional trader may be affluent in the short term but the mechanical trader will almost always come through in the long term.
So if you really want to learn Forex trading – mechanical trading is the way forward. NO FX EA will dispute that.
This is why any novice or professional learning forex trading will use automated software to instruct and decide on trades within your Stop Loss and Take Profit margins.