If you haven’t tried trading forex on your own, allow me to give you some tips:
IT IS VERY RISKY.
By this, I mean VERY RISKY.
How? Well, I am the Stock Market Newbie right? I dabble in stocks on my own, try to learn as much as I can about it, trade on-line without the help of a broker and…
Just recently, I went into foreign exchange trading. I read everything I can find about it. I bought some books, downloaded stuffs from the net, viewed instructional materials, etc., etc., tried a demo account, funded a real “live” account somewhere in the U.S. and started… LOSING MONEY!!!
Hold on. Before you start thinking that I am a thick headed Neanderthal who can only stare at instructional materials but don’t understand any of it, let me say this: percentage wise, I am doing quite well in the stock market. And I’m doing it on my own too. As I already said, No help from a broker. I said “percentage wise” because making say, 60 percent profit on a mere $1,000.00 is quite different from making 60 percent profit from $1,000,000.00 right? And you know why I prefer talking in percentages right? I am on the lower side of the bracket.
Okay, back to forex. The darn thing is so risky they don’t think that your experience in the stock market counts! That is, no matter how long you’ve been playing the stock market. They think the equities market is for Sissies. They’ll turn your application down if making tons of money in the stock market is your only qualification.
But they’ll let you in, even if you admit that you are only a novice if you insist on getting into forex trading for as long as you are aware of the risks that you are taking by getting into it. Believe me they will remind you of that – every step of the way.
Let’s let that sink in for a while, I’ll make this a bit of a series, come back here for more helpings if you are interested.
Just bear that one thing in mind all the time – FOREX is Very Risky!