Currency trading for dummies

“Currency trading for dummies” is a good book for Forex trading beginners. If you want to learn to trade forex, this is the right book to start with. Today, I think I should write some thoughts about it.

First, I often read a lot of forex trading books, but I never do reading study notes. So, from today, I will write a currency trading guide for dummies. I think it's the best way to learn currency trading.

Second, why 90% of currency traders lose money? Because they only try to find a easy way to make extra money fast. 

In fact, there is no forex trading secret in the world. Success comes from hard work and execution.

Third, I am going to write a currency trading plan.

• It can define the real goals for a currency trader
• It can define your money management rules
• It can define your currency trading strategy before you enter into a trade.
• It can define the forex trading entry and exit points

Fourth, it's a great pity that many beginners never start with a free demo account. 

So, I have to open a forex trading demo account and develop a solid, profitable forex trading systems.

Fifth, here are my successful forex trading strategies.

1. Forex grid trading system
2. One direction grid trading
3. Bidirectional grid trading
4. 4 hour forex trading system
5. 15 minute scalping strategy
6. Forex day trading strategy

Sixth, I must keep and maintain a forex trading diary. It can measure, track and stay focused on improving my forex trading performance.

Seventh, a lot of professional traders always put the extra into ordinary. They treat forex trading as a business.

In a word, how to become a successful forex trader? 

“Currency trading for dummies” would be a good starting book to read. By the way, I think true success is being superior to your former self.

Currency trading for dummies

How to trade currency pairs

Many novice traders are always asking about how trade currency pairs. In fact, they want to know the forex trading secrets.

Today I will speak loudly, there are no secrets to success in forex market exchange. If there was, I think it comes from hard work and execution.

2 basic tips you should know about currency trading

First, I will learn how to trade forex with Babypips. It offers free online forex trading courses. 

Second, I will read the best forex trading books to make big profits. For example, Bird Watching In Lion Country or Jesse Livermore's methods of trading in stocks.

These first two pieces of advice help me to become a self taught successful forex trader. Keep in mind that the first step is to build a lifelong habit of learning.


Yes, every forex trader wants to make a lot of money in currency trading. I am no exception. So let's learn more forex trading knowledge and strategies.

5 steps to trade in forex

First, I have to develop a currency trading business plan.

• It can define the real profit targets for a successful trader
• It can define the forex trading strategy before enters into a trade. For instance, grid trading strategy, 4 hour forex trading system.
• It can define the entry and exit points
• It can define the money management rules.

Second, I am going to write a forex trading checklist. It is the fastest way to identify the trading opportunities.

Third, now you might think about how choose the luckiest currency pairs to trade. I think it should suit your personality and forex trading strategies.

• If you are trying to trade long-term trends, EURUSD would suit the moving average strategies
• The most popular cross currency pairs would suit the grid trading strategy. For example, EURGBP and EURJPY

Fourth, I have to open a demo account and test the currency trading strategies.

Fifth, I must write a currency trading journal spreadsheet. It can track, measure and improve my trading performance, especially help me build the disciplines.

In a word, if you follow the step-by-step guide, you will know how to trade currency pairs and make money. Now it's time to start your forex trading career.

More reading: Steve Burns's blog

How to trade currency pairs