When I first know about foreign exchange (Forex) in the early day, I thought that this game is for rich people only because it involves with a lot of money and risk. Today in this internet era, it is completely different. Anyone can make money in Forex whether you are rich person or a normal guy.
It is the internet that attracts many beginners to start making money in Forex. There are so many advertisements from different broking firms giving rewards or incentives trying to get subscribers, telling them how easy it is. And, the most attractive part is that you do not have to invest a lot of money to open an account. I remember that I just deposit $500 to my account at that time. Today, you can start trading with $200.
I did not start trading with real cash instead I registered for a demo account where a $10,000 fund is given. So, I tried trading with the demo account and it seems so easy to make money. You see $10,000 grows to $15,000 in 5-days. That is 50% profit. So, I thought if I can trade with my actual trading account (with $500), I can grow my money to $750. Without thinking so much, I went ahead to use my actual account to trade. At first, I make some profit but then I lose everything in just one day. Then, I topped up with another $500. This time, I became more careful and take profit whenever there is. But still, I did not make it. My next $500 is gone.
I believe that this will happen to all beginners who do not really understand how to make money in Forex. I have been through it and I am still trading today. It is not that you cannot make money in Forex. You need to know the basic first before you know how to make money in Forex.
Feel free to comment to let me know what you think. But, please do not spam. Thanks.
Great post here. Have never tried Forex trading before. Any type of advice for a beginner? Thanks!
Get a demo account to try it out! And subscribe to my blog for future contents to help you. Thanks.
A good post I tried Forex without training you know what happened so I think you have a great site to learn from
Thanks for the comments, Walt. If you want to follow my blog, you can subscribe (at the top right). So, whenever there is a new blog, it will inform you.
I made a research about this a few years ago, and there was no useful information by then, great that you will bring that to us all!
Thanks Alan, for visiting my site. Sure, I will provide useful and relevant info that will benefit anyone who are interested in this topic. Have you subscribe to my blog?