Beginner Forex tips

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

The good news is — an investor can succeed in Forex trading and make healthy profits out of it, some even can achieve a financial freedom. The other news, however, are that 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 in making it to the top of successful speculators — the path to the top is a challenging terrain, where 90% of beginners fail.

2. In the hunt for a successful trading career, be cautious about bright colorful promises spilled by everyone: from Forex brokers to different Forex product, book, system, courses sellers. IT IS NOT SIMPLE TO BECOME A PROFITABLE TRADER OVER NIGHT or even over several months, sometimes even several years. Keep that in mind, and with time you'll remember these words.

3. As a beginner, you may find entering the currencies trading world quite overwhelming at first. There are virtually tons of information about trading, tons of tips, systems and indicators to study — a pile of information that would take many months just to read and get familiar with.

Don't worry, it is Okay to struggle a bit at first. Remember that despite all claims and beliefs, Forex trading (same as trading Futures, Indices and Commodities) is the as demanding as any new discipline or knowledge field you try to master. To make your learning process easy and comfortable, start by reading this simple charts

And then review other websites we link to, where you'll the key knowledge to such important aspects of trading as: money management, fundamental analysis, trend lines etc.

4. 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.

5. If you're new to trading, don't rush in to trade with real money, unless you can afford to lose them, 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 allow to lose the money in trading (because you will lose, please don't wear pink glasses and think that you'll be immune from this, you won't be, no beginner does): 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 a small account with a Forex broker. If, however, you're not comfortable with losing $100-200 is over a week or two (some may even do it faster), then stick to demo trading until you're ready.

6. 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.

7. Keep a cool head, get inspired about Forex trading, keep on studying, keep the learning process at your own pace 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.

Sourcing:
http://www.freeforextips.net