What do you need to know to become a successful Forex trader

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3022-min

Trading in the foreign exchange market comes with significant risks. Different reports from brokers suggest that the percentage of traders that lose money goes from 75% to 95%. So it is clear that Forex trading offers the possibility of making attractive profits but exposes traders to the risk of losing more than the initial investment.

The risk in trading comes from different sources: markets and money management. Leverage offers the possibility of using a small investment to make substantial trades, hence minor price fluctuations can result in large profits or significant losses.

The FX market is open 24 hours and any event around the world has the possibility of making an impact on price action. Anything that can influence a currency is related to the forex market. Traders look in advance to events that could trigger volatility, most of these events can be seen in economic calendars.

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