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How to Gamble on the Forex

To Gamble on the Forex you must be ready to sustain heavy losses. But as risky as it is Forex Trading is very fun to gamble on. The price of foreign money goes up and down as you wager whether the price will rise or fall. It normally only costs pennies to buy $100 worth of currency because of leverage and I know a broker who allow you to program a strategy to trade the market while your away from the computer. That company is AvaTrade.

AvaTrader is a great place for beginners to learn because the offer a simple program to use and have great charting options.

When you download and use your trading platform program the first thing you want to look for is a chart. To begin where most other do look for the EUR/USD currency chart and you can see the current price and all the action the pair has generated previous.

When you think you are ready to enter the market you click on buy if you think the chart will rise and click sell if you think the chart will fall(just like stocks). Alternatively you can enter the market at a later time by placing an entry order above or below the current price and when the market reaches your entry price your position will open. Because you can set when you want to enter the market you can also set when you want to exit your trade by placing a stop-loss and take profit order. Its all very simple to do, the hard part is being profitable.

The Forex market is open from Sunday afternoon to Friday afternoon for trading. But you should always look out for News announcements these change the price instantly and usually come out on the exact minute they are posted for. Below is an Daily Economic Calendar that will warn or inform you of these dangers/profitable situations.

For the next step in learning more visit

Live Economic Calendar Powered by the Forex Trading Portal

The Calendar shows you what time the news will come out, what currency it will effect, and the predicted outcome which is just a guess.