90% of new forex traders lose all their money within the first 3 months
This means 90% of all forex traders don’t know what the heck they’re doing! They just jump right in and rely on luck, only to end up giving away all their money to the other 10%. Babypips.com was created to help prevent this from happening to you. Our free forex trading course and forex education are designed for those new to trading currencies. We stress that you take baby steps when learning to trade. The slower you start, the faster you’ll become part of the elite 10%. Remember - you didn’t learn to walk without first learning how to crawl
You have decided to be a trader in the forex market, and you have no idea on how to begin. Let's first start by defining what the forex market is and what it does. The term "forex", also known as the foreign exchange is a market for the sale and purchase of all kinds of currencies. It originated in the early 1970's when floating currencies and free exchange rates were first introduced. At this time, the forex market traders were the ones who set the value of one type of currency against another. Nowadays, the market forces determine the value of a currency against another. One unique aspect of the Forex market is that very little trading qualifications are required of anyone intending to trade therein. Independence from external control ensures that only the market forces influence the currency prices. As the largest financial market, with trades reaching up to 1.5 trillion U.S. dollars, or USD, the money moves so fast, it’s impossible for a single investor to substantially affect the price of any major foreign currency. In addition, unlike any stock that is rarely traded, forex traders are able to open and close any positions within seconds, because there are always a number of willing buyers and sellers.
