Beginner's guide to currency trading

It can be tricky to keep up with, but these tips can help you get started.

By Wall Street Media on MSN Money Jan 19, 2010 6:36PM

Currencies © Artifacts Images/Getty ImagesWritten by Douglas Estadt


The round-the-clock, quick-changing currency market presents no challenge to my friend Kevin Hughes, the best currency trader I know. In fact, he says the schedule suits him well, given his technical strategies. 

 

I met Hughes, of KM Hughes & Associates, on StockTwits. He posts his trades in real time to help other people learn from his expert knowledge of the foreign-exchange market.

At Kevin's Web site, you can either have him trade your money or trade your own by downloading the platform and following his lead. He offers a few key tips for how to get started with currency trading:

  • Watch the currency market for a while, then try out a demo with a strategy.
  • Start small, but most importantly, manage your risk.
  • Trade what you see, not what you feel.
  • Take small losses and quick winners.

Watch the video below to better understand Kevin’s investment thesis.

To see where I have my investment dollars now, or to follow my picks, click here.


Visit us at Wall Street Media. We feature exclusive insights from leading investors


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