Forex Tips & Forex Advice

Every new trader comes to Forex with a single goal in mind — to make profits

The good news is — you can do it! Anyone can profit trading Forex, some even move on to achieve financial freedom...But...
Achieving profits in Forex isn't as easy as it may seem to be in the beginning. Any beginner trader should be realistic about his/her chances — the path to the top is a challenging terrain, where 90% of beginners fail.

Skip promises, bonuses and other "easy ways" to succeed

While pursuing a successful trading career, be cautious about bright colorful promises made by Forex brokers, Forex websites, book publishers, courses sellers etc.
IT IS NOT SIMPLE TO BECOME A PROFITABLE TRADER OVERNIGHT or just by reading a smart book for that matter. It takes years of hard work and practice. Otherwise we all would be millionaires by now.

Success doesn't come overnight, be it Forex or anything else

As a beginner, you may find entering the currency trading world quite overwhelming at first.
With tons of information about Forex trading, systems and indicators to study — it would take many months just to read it all!

Take small steps, expect to struggle a bit at first. Forex trading is the as demanding as any new discipline you choose to master.
To make your learning process easy and comfortable, start by reading this simple charts book by Jeff Boyd.
Next proceed to simple key topics as: trend lines, money management, fibonacci and pivot point trading.

Don't treat Demo as "newbie land". Demo is an essential step even for experts

Despite challenges, Forex trading is very exiting. It is advised to open a Forex demo account with any broker and dive into the world of virtual trading, which will become your learning base for the next several months.

If you're new to Forex trading, don't rush in to trade with real money

...Unless you can afford to lose it, because you will most certainly do, if your trading experience is less than 3 months.

There are debates as to whether it is better to stick to demo trading or open a small live account for learning purposes. The answer is: it depends on your financial situation:

...If you can afford losing some money in trading (because you will lose, no one is immune from losses, and certainly not beginner)
...And if you want to feel what real trading feels like, when the real money are at stake — that's a tremendous experience and you can certainly open a small Live account for that purpose.

If, however, you're not comfortable with losing $100-200 over a week or two (some may even do it faster), then stick to demo trading until you're ready.

There is no Holy Grail Forex system

Don't believe online marketers who try to sell you a system or indicator for $60-100 USD, with promises to guarantee you huge profits and financial freedom. It is all lie, unfortunately. If there was a way to invest $100 and make a million with it, it would mean the collapse of all financial systems in the world: a total joke, an impossible fairy tale that many beginner Forex traders buy from smart online marketers who sell their products.

Markets won't move faster because you need to learn or profit sooner

Keep on studying at your own pace and with the market, get inspired about Forex trading and master this disciple of Forex market trading in few years to call yourself an experienced trader.

Make profits as a result of your own knowledge and experience, it won't and can't be achieved in any other way.