Top 6 tips for new Forex 'investors'
Interested in getting involved in foreign exchange currency trading? Some advice for newbies.
A foreign exchange dealer reacts at a trading room in Tokyo on Oct. 14, after the U.S. dollar dropped against international currencies. If experts face this kind of collapse, should novices stay away entirely?
Toru Hanai / Reuters / File
SmartMoney magazine has an article up called Forex 101 that offers 6 things that new currency investors (whatever that means) should be aware of. In the service of symmetrical aesthetics, they give us a match set of 3 warnings and 3 endorsements about Forex.
I offer my own 6 tips to small, inexperienced, would-be Forex players below:
1. Don't do it
2. Don't do it
3. Don't do it
4. Don't do it
5. Don't do it, seriously
6. Don't do it
Hopefully, I'm being clear enough for those of my readers who haven't yet experienced the joys of boiler room currency brokers or online "platforms" that actively trade against their customers in an inside market. With leverage.
If not, feel free to see the below:
at least they're honest... (TRB)
Add/view comments on this post.
------------------------------
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.