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Forex DeMYSTiFieD: A Self-Teaching Guide by David Borman

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Chapter 3

How to Navigate the Online World of Forex Trading

CHAPTER OBJECTIVES

In this chapter, you will learn the following:

• The importance of a short-term trading perspective

• The basics of what Forex software tells traders

• How to use demo accounts for real practice

• The basic risk management technique of position pyramiding

Forex trading should be considered to have both short- and long-term perspectives. Give yourself plenty of time to learn the trading platform software inside and out to run your orders accurately. If your account offers a practice or demo account, try it out before you run live trades. Practicing before going live will boost your confidence levels. It also makes an ideal testing ground for new trading strategies ...

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