Since 1989, I have been trading the commodities and futures markets, and since 2005, the currency spot market (also called foreign exchange or Forex). My journey has not always been profitable or easy, and if you embark upon this adventure (and yes, it is an adventure), then you need to be both excited, but cautious. Forex investing will require your focused attention and abilities to research.
Basics, Forums and Demo Account
Now, of course, I have my own Forex invest site that is relatively new, and it will take some time for my site to be the resource I want it to be. But there are numerous websites you can go to now before making your first Forex income investment. Realistically, probably no more than 10% of those entering the investment in Forex arena will be profitable. The difference - supercharging your learning curve by investing in your education first and by reading the posts placed by experienced traders in the Forex forums. Spend a good three months doing this first, then another six months paper trading are using a broker's simulated trading service, and there is no reason why you can't be in the successful 10 percent.
There is a lot more information that can be found on the Web, but I just want to show you a couple of the resources available with this article. I can't tell you enough how important it is to learn the basics, not to jump into online Forex investment on at someone's recommendation without knowing what you are doing. Forex investments can make you wealthy quickly due to the leverage of funds brokers allow you (up to 400 times your initial deposit when you set up your account), but also can send you and your family to the poorhouse quickly.
Basics, Forums and Demo Account
Now, of course, I have my own Forex invest site that is relatively new, and it will take some time for my site to be the resource I want it to be. But there are numerous websites you can go to now before making your first Forex income investment. Realistically, probably no more than 10% of those entering the investment in Forex arena will be profitable. The difference - supercharging your learning curve by investing in your education first and by reading the posts placed by experienced traders in the Forex forums. Spend a good three months doing this first, then another six months paper trading are using a broker's simulated trading service, and there is no reason why you can't be in the successful 10 percent.
There is a lot more information that can be found on the Web, but I just want to show you a couple of the resources available with this article. I can't tell you enough how important it is to learn the basics, not to jump into online Forex investment on at someone's recommendation without knowing what you are doing. Forex investments can make you wealthy quickly due to the leverage of funds brokers allow you (up to 400 times your initial deposit when you set up your account), but also can send you and your family to the poorhouse quickly.
No comments:
Post a Comment