What I Learned About Forex Trading by Reading a Blog

Blogging is a heavenly gift, it allows people to share experiences not only through social media, and newspaper before or magazine (if you were featured) but the typical mind behind the blog site is allowed here to flourish, share, or impart.

And since I know nothing about Forex as of yesterday I read a blog about it at forexphilippines.org. Here are the major things I learned through out my day yesterday:

  1. Forex Trading is like stock trading and gambling mixed with a twist. You buy in when the selling price is low and you sell it high like stocks. The more money to put in, the more money to win but you may lose all when you bet all.
  2. Patience is a virtue but detaching emotion must rule them all. Meaning you gain pips you feel bored, you lose pips you feel bored, you gained $10,000 still bored. The keywords here is controlling your emotion.
  3. Money management –This part I never fully got the meaning. It is very quintessential to save money for investment, pick what you need and don’t buy an IPhone 7 unless it’s the last phone on Earth or you have money to waste. Yes, I just got it now, put money in forex trade that you can waste and separate your living expenses, this requires management 😀

That’s all folks, by tomorrow I will begin my forex trade practice that was suggested on the site and hopefully I could turn boredom to gold. And I shall live happily ever after 🙂

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