How would you like to be able to potentially make money trading currencies in the Forex markets? Better yet, how would you like to be able to potentially do this within strict risk control parameters? Even better yet, how would you like to potentially do it with a minimum of effort on your part? I'm talking about only10 minutes a week. Well, I am here to tell you a few key principles or secrets to potentially make it happen.

Secret #1

The Forex markets are heavily advertised as being a great way to make money, which is very misleading. The unwary would-be Forex trader is led to believe all she has to do is open a Forex account to gain access to one of the many excellent Forex trading platforms, begin trading and then become rich in no time. So what's the secret? The Forex market is a highly liquid, potentially profitable market to trade, sure enough, but only if you have a winning edge methodology that you can apply to these markets. Without such a methodology, the hapless trader will quickly lose money trading the Forex as they would any market.

Secret #2

The Forex markets are heavily advertised as commission-free. True, but unlike the futures market, entering and exiting positions in the Forex markets is done by buying at the high end of a rather wide bid/ask spread and selling at the low end. So the difference in the spread is your cost of doing business. This cost may be acceptable for swing and long term traders, but may not be acceptable for day traders. So if your goal is to make money, you may not wan to day trade the Forex markets.

Secret #3

While swing trading could be potentially profitable trading the Forex markets, there is potentially greater opportunity trading the long term trends. Currencies have always moved in long sweeping mega-trends that potentially offer low risk entry points and the potential opportunity to ride a long money making trend (sometimes for several months).