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Before we go any further, we are going to be 100% honest with you and tell you the following before you consider trading currencies:
You can open a demo account for FREE with most forex brokers. These “pretend” accounts have most of the capabilities of a “real” account.
“Would you like pips with that?”
As in any new skill that you learn, you need to learn the lingo… especially if you wish to win your love’s heart.
In the past, spot forex was only traded in specific amounts called lots, or basically the number of currency units you will buy or sell.
Here is where we’re going to do a little math. Just a little bit.
In the following examples, we are going to use fundamental analysis to help us decide whether to buy or sell a specific currency pair.