Wednesday market assessment

So far its been a relatively well behaved market but as many analysts
are now pointing out, today and the day after the 4th of July will bring
their own fireworks into the market.

We have some data for release before the holidays which will have a big
impact on the USD. This is considered a precursor to the NFP coming up
on Friday. For novice traders like myself, the NFP or New Farm Payrolls
is a big event that brings major volatility to the market. It can bring
substantial profits but by the same token, it can also bring massive
losses.

So beginners and those who have little experience in trading highly
volatile markets are advised to trade this using demo accounts first.
That ensures that you have the experience (and stomach) to tackle wild
market movements. Demo accounts are key to the proper preparation of a
budding forex trader. They are free and you can use them as well as a
way to select your broker since brokers have different trading
platforms. It is important to pick one that will enable you to trade
effectively because some systems might end up slowing you down which can
affect your trading adversely. Remember, demo accounts are a VERY
IMPORTANT tool for the new forex broker. Use them.