Daily Archives: August 31, 2009

This is the first installment in an occasional series we’re calling, “Diary of a Forex Newbie” in which traders new to Forex and Currensee talk about what they’ve learned about trading and how they’re using Currensee.

With my background in product management, I was as excited as I was unprepared to launch into the world of Forex trading when I joined Currensee.  Since I have exposure to some of the great tools already offered on the site, I decided to try my luck on a few small trades.

I opened up a position in USD/JPY as my first trade.  I’m not sure why it caught my eye that day, but you have to start somewhere.  I ended up holding the position for a couple of weeks, determined not to have a loss on my first trade.  Typical newbie behavior, I suspect.

USD/JPY is my favorite pair, the first one I traded.  I’ve begun to get a real feel for the price changes in this currency pair.  When Currensee released the Community Volatility Indicator, I was armed with information most traders don’t have about the entry and exit prices of other, more experienced traders.  I made some money – enough for lunch – on my next several trades.

Friends and relatives watched me trade dollars and yen on a daily basis, about half an hour a day.  They pretended to be interested in my small wins, which I couldn’t seem to stop discussing.  How long will my streak hold out?  Join my team on Currensee and find out...

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.