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Whether you’re a beginning forex trader or have extensive experience in forex trading, we will stick our collective nose out and say that you will find useful information here. A basic FX trading course or seminar will not give you enough information to start trading. Incidentally, many forex brokers will take your credit or debit card in lieu of cash, so, you really don’t need to deposit any money at all – not that this is a good idea.

Counter-trending styles of trading are the opposite of trend following—they look to sell when there’s a new high and buy when there’s a new low. Different Forex types of foreign exchange trading products involve different risks so you should read the product disclosure statement carefully before investing.

The losses effectively blew up the largest and third-largest retail forex broker and inflicted multimillion-dollar losses for other players. On paper, counter-trend strategies are the best Forex trading strategies for building confidence because they have a high success ratio.

Associate Professor Mark Crosby from the Melbourne Business School told the ABC last month there was no place for leveraged retail foreign exchange trading platforms in Australia. Forex is traded by the lot.” A micro lot is 1,000 units of currency, a mini lot is 10,000 units, and a standard lot is 100,000 units.

Create Alerts – You can create alerts with one or more of the mobile trading applications. One of the selling points the marketing companies use is that local trading platforms are too slow to take advantage of international markets and therefore you have to use international platforms.