Forex and stock markets can be an excellent way to earn some extra money
. Its is common knowledge that 90 % of all people involved in financial markets loose money. Financial markets can bring you profits if they are approched the right way. But be preapred to loose money in the begging, because every learning process takes time and money. You have to decide how much time are you prepared to invest in your learning every day. Based on free time you have you can then choose you trading style.
Forex markets and currency trading has the biggest turnaround of all financial markets. The easyiest way to get involed in forex markets in through online forex broker. They offer different services with different prices and conditions so be carefull which you choose. If you are a begginer in financial markets you should start with stock market. You mistakes wont be so costly in stock market as they would be in forex market. Dont use leverage because it will increase your losess and you will soon be out of money and out of markest especially if you are a beginner.
Most trader use technical analysis to determine what stock or what currency pair to enter. Technical analysis is used to analyize stock charts to determine entry and exit points.Techical analysis is also used to determine uptrends or downtrends in stock charts.With technical analysis you can minize losess and maximize gains. Money management is essential if you want to survive in the cruel world of financial markets. Money management includes position sizing, setting stop losess, locking profits....
Important part of long term sucess in forex or stock markets is trading without emotions. This means you have to set rules when to enter particular trade and when to exit before you enter the trade. A lot of mistakes happen when emotions take over the trader, this is when the biggest losses happen. You can be succesfull if you rule out your emotions and this is very hard and it takes a lot of time before you accept that this is the best for you and your long term success.