Is forex trading right for you?

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To successfully trade in Forex, you will need to have good knowledge of foreign exchange, leverage, volatility and the conditions of each country whose currency you are trading.
You will also need to predict how these conditions affect the relative value of those currencies. This is extremely difficult as so many factors come into play, including politics, economics and market confidence, and these are unexpected, random events.
You will also need to:
  • Know how Forex works in detail
  • Have lots of time to do research and monitor your trades
  • Understand the online platforms used for trading and their functionality
  • Read the product disclosure statement and discuss the risks with your financial adviser
  • Be able to afford to lose more than the amount you invested 

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