You must know all these rules if you want to invest in forex

[Maks25]

If you must trade forex then commit these rules to heart.

1. Know every forex jargon like the back of your palm
2. Learn every trade system there's to learn and formulate yours.
3. Never live trade with real money until after a year
4. Paper trade continuously every weekday and grasp the principles.
5. Learn and develop ur own trading strategy which are
-Money management
-Trading methodology
6. Never trade above 4% on any single trade and never trade above 25% of your total portfolio.

Keep these to heart and u can never lose in d long-run. I'll recommend Vince Ralph's books on money management, W.D Gann's books on strategy. With these you can develop a winning strategy that the mathematical expectation of the strategy is above 1.1 every month.
Goodluck

 

[Samuelkanu]

Yes it is very good for you to know all the terminologies in forex trading. This is because if you don't know them you might make grave mistakes. Like the issue of leverage I have seen someone lose all this morning because of a little loss because he did not know the concept of leverage. You also have to understand pips from pipettes because some currency pairs are calculated in pips and others in pipettes. Even how to use the platform is also of essence.