Recently, many people around me have been asking how to learn to buy foreign currencies and make money. I want to organize my experiences over the past few years and share them with everyone. To be honest, trading forex is not as complicated as it seems, but don’t think about getting rich overnight—that’s the easiest way to lose money.

First, you need to understand the different ways to trade foreign currencies. The simplest is exchanging foreign currency at the bank, but honestly, the handling fees are sky-high, and you can’t really make much profit this way. A smarter approach is to use a bank foreign currency account or engage in forex margin trading. If you truly want to make money by buying foreign currencies, margin trading is the right path because you can operate large transactions with a small amount of capital and trade 24/7 at any time.

However, I must be honest here: leverage is a double-edged sword. When I first started, I was too greedy and used high leverage, which resulted in losing more than half of my principal in one go. Later, I realized that beginners must start with low leverage—1 to 2 times is enough. Only after understanding the market’s temperament should you gradually increase leverage. Another super important tip is to practice with a demo account first, so you can familiarize yourself with the platform without the pressure of real money.

When choosing a platform, don’t just rush in because of high returns. I prioritize platforms that are regulated by government authorities, such as the UK’s FCA or Australia’s ASIC—these internationally recognized regulators ensure the safety of your funds. I’ve also used local platforms in Taiwan; each has its own features, so it mainly depends on your investment needs and trading habits.

Regarding currency pairs for making money, my advice is to start with major currency pairs like EUR/USD or USD/JPY because they have high liquidity, large trading volumes, and relatively stable market trends, making them easier to predict. Don’t start with niche currency pairs, as their volatility is too high and you might get shaken out easily.

Finally, I want to emphasize the importance of mindset. The most important thing in forex trading isn’t how much you make in one trade, but whether you can survive long enough to keep trading. My current approach is to ensure that the margin for a single trade never exceeds 10% of my total capital, and in low-risk situations, control it between 3% and 5%. This way, even if you lose, you won’t be wiped out, and you still have a chance to bounce back. Many people go all-in on one trade and end up blowing their accounts—that’s the most terrifying part. So if you really want to learn how to buy foreign currencies and make money, first adjust your mindset, invest with spare money, and slowly accumulate experience—that’s more important than anything else.