Over the years, forex trading has built a reputation for being many things. Some think it’ll help them amass a formidable fortune in a short period of time. Others think it’s unnecessarily risky, even more so than other investments. But which of these is fact and not fiction? Here are the most common misconceptions surrounding forex trading today.
Think back to the SGD/MYR example. With only an appreciation of MYR0.07 per SGD, the trader who buys and sells S$100 makes a 7MYR profit, but the trader who buys and sells S$10,000 makes a 700MYR profit.A Basic Guide to Forex Trading As it turns out, trading less and focusing on a limited number of currency pairs that you are knowledgeable about is usually the most beneficial strategy.
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