| If you've ever looked into 'forex' (foreign | | | | right. The one you developed and didn't tell |
| exchange) trading, you will have a good idea | | | | anybody about. This can take a good deal of |
| of the potential gains. You can become | | | | work to develop. There are numerous software |
| wealthy in a very short space of time, | | | | packages available to help you monitor market |
| although it pays to remember that one | | | | patterns, and design your killer strategy. If |
| person's gain is another person's loss. | | | | you develop a strategy that works then keep |
| Remember the warning 'prices can go down as | | | | it quiet! |
| well as up'. | | | | |
| | | | In my experience the most consistently |
| There are a number of brokers or spread | | | | profitable trading technique is a method |
| betting companies through which you can | | | | called 'skimming'. This involves placing many |
| trade. I'm going to give you some advice on | | | | trades for small market movements which build |
| maximising your chances of succeeding. You | | | | your profits based on a considerable number |
| will face challenges along the way but if you | | | | of transactions. It's only possible for |
| persevere for long enough you may find | | | | spread betters to profit from this if they |
| yourself in a very positive situation. First | | | | are able to place bets with a tiny spread. |
| and foremost, know what you are getting into. | | | | This requires experience and a good knowledge |
| Read as much as you can about every aspect of | | | | of the markets. Make sure you are fully |
| trading, and remain objective with regards to | | | | prepared. This is an intensive method - you |
| the many opinions you will hear on how to go | | | | didn't expect it to be easy did you? |
| about it. | | | | |
| | | | I have one final recommendation which is |
| If you are spread betting then you will need | | | | extremely important. You may be raring to go |
| to find a company that offers a competitive | | | | but if you remember just this advice you will |
| 'spread'. Shop around. Find out what a spread | | | | save yourself considerable amount of stress. |
| is - this is very important. Be very | | | | The most important advice you will ever hear |
| sceptical about trading systems that offer | | | | about trading is- 'only trade with money that |
| instant wealth. Trading methods that worked | | | | you can afford to lose'. |
| last year may have run out of steam in the | | | | |
| current market. | | | | 'Is that all' you may ask. Talk to those who |
| | | | have lost the money they traded which they |
| Once a system becomes widespread enough then | | | | could not afford to lose. Beware anyone who |
| too many people know how it works. Lots of | | | | suggests otherwise as they very probably have |
| people start using it and any advantage is | | | | something to gain from your additional |
| wiped out. You may end up slaving away for | | | | risk-taking. They don't care if you crash and |
| little or no profit at all. | | | | burn, as long as they get their slice. If you |
| | | | are planning to win in the long term then |
| There is one system that can potentially make | | | | limit your exposure to losses in the short |
| you rich. It's called 'your system'. That's | | | | term. |