The key to profiting in any market is to have a simple strategy that has you buying low and selling high.  If you are trading with a good risk to reward ratio then you can be right on less than half your trades and still make very healthy returns. You have to know how to spot a nice opportunity, and be ready to execute your trade plan according.

One of the many advantages of the forex market is that it is open for trading 24 hours a day. Unlike the stock market, the currency market works according to the normal business hours of the three business centers spread across different time zones. Traders have the freedom to trade as and when they choose, depending on their particular interests.

There is not a part-time trader out there who doesn’t dream of getting to the point where they can throw their day job to the wayside and trade currency from the deck of their pool. This is a legitimate fantasy that few will achieve, and for those that do it will be a hard road to get there.

An expert advisor (EA) is a software program that analyzes data and provides a trader with buy and sells recommendations that fit within the trader’s strategy. Much like a trader, an expert advisor analyzes historical data and forecasts future price movements using this data.