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Now that you’re understanding a bit more about how the forex market works, you need to determine your trading strategy. There really is only one method… trial and error.
I can suggest to you to open up a Demo account (there are many available) although I believe that it makes a huge difference when using real money. So open up a demo account if you wish, but use it to learn the terms and such – then try it for real. Remember, slow and steady wins the race!
The truth be told, almost any proven forex strategy does have the potential for profit. Some have a greater potential for profit, but also carry higher risk, and vice versa.
Every strategy can be put into one of two main categories… long term or short term.