Forex Education 3: Make Money in Forex Trading

How to Earn Money in Forex Trading

Lots of Money (Image Credit: KimDioninc from flickr.com)

Got stuck in the Pre-School of BabyPips’s School of Pipsology… But it’s not the school’s fault. The blame is on Mumsie FX. How the heck does a middle-aged woman figure out the moneymaking secrets of Forex? Aside from reading all available materials that everybody can find on the Internet, that is. One must read as well as comprehend. It’s like listening but not hearing or looking but not seeing.

Enough rambling, Mumsie FX. Get on with the lesson number two of Forex Basics: “How You Make Money Trading Forex”. This is still a mystery unsolved for the mind with any age.

As learned previously, the forex market involves the simultaneous buying and selling of currencies. If you buy a currency, you also sell another currency. During the process of buying and selling, a trader may win or lose. Simple. I have to have my wits with me all the time while trading! Very simple, indeed.

Another way of explanation, forex trading is also similar to the stock market (and other markets such commodity, if you’re familiar with them)

The idea I get here is to study forex through and through — then start live trading when I’m very, very sure of my forex trading ability. Hmm… is demo trading good or bad?

…….. omg!!!

I stopped reading the BabyPips School of Pipsology last April. And when I came back to resume this self-inflicted Forex Education, the awesome school has become more awesome! lol

So I have to start all over again. Good thing, I was a bit slow. lol again.

I am very much tempted to just add updates where needed but it may confuse me more than ever. Back to Preschool for me! agh! I’ll be a grandmother before I finish college in forex!

The New School of Pipsology at BabyPips.com has a moving tab on the left side. It serves as a class card, where study progress is recorded. I find this a bit distracting but it is a necessary distraction. The 0% in all of the levels always glares to remind my lack of progress.

As you can see on the image at the right side, the new School of Pipsology starts on ‘Pre-school’. The first level is divided into 5 parts:

  1. What is Forex?
  2. Why Trade Forex?
  3. Who Trades Forex?
  4. When Can You Trade Forex?
  5. How Do You Trade Forex?

I’ll stop here to begin with the new school. See you on the next post!

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  1. Ok you got me thiking for sure, I’m new to forex so this is all very strange to me yet, I’m loving it all though.

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