INFOGRAPHIC: How to Become a Forex Trader

Joel Anderson |

Among the world's most opaque, complicated, and rarely used trading structures is forex trading. Seeking out and exploiting the movements of free-float currencies against one another requires an intensely difficult basket of skills and mathematical knowledge, and it's not for the faint of heart. For the most part, jumping into forex trading from a standing start knowledge-wise would not be entirely dissimilar from making a pile of your assets and lighting it on fire.

However, for the right kind of trader, there's money to be made. A lot of money. Just ask Stanley Druckenmiller, who made millions for George Soros betting on the German mark, or George Soros, who shorted the British pound and made $1 billion in the process. Like any form of trading, doing it poorly is expensive and doing it well is lucrative.

The following infographic from The Max Trading System offers up some simple tips on how to master the world of forex trading. Except that if there were "simple steps" to mastering forex trading, it's likely that more people would be doing it. That said, while the title and premise of this graphic are extremely misleading, the core information remains sound advice. Sound, controlled trading and sticking to one's plan is probably the best method for getting the most out of one's trades.

 


How To Master Forex Trading created by The MAX Trading System

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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