The Untold Truth About Forex Trading

The Untold Truth About Forex Trading.You may have seen and heard many so called Forex Experts come on radio with sweet words, making Forex trading seem like a walk in the park, right? Well I’m afraid to burst your bubble, as not all that glitters is gold. Well, this writer is not saying that Forex Trading cannot be very profitable, but I’m here to give you a balanced perspective on things. So here are some good points to ponder about Forex trading.

1. While Forex Trading can be very profitable, it’s very, very risky. In fact up to 90% of traders lose money in the long run.

2. Anybody telling that you can make money in a short time after minimal training probably has an agenda and is not telling you the whole truth.Now knowing the risk, and you still decide that you want to ahead with trading here are our recommendations.

3. Forex Trading may take you up to a year or more to be ready for.

4. We strongly recommend the full Forex trading course on babypips.com. It’s one of the best courses out there. It’s a long course and will take a while to complete.

5. Download the DailyForex app and go through the videos and Quiz in the Daily Forex Academy (App logo is pictured in the gallery on our Facebook page)

6. After you must have gone through the courses open a demo account and trade daily for at least 2 months. Demo trading will help you understand the dynamics and complexities real time trading.

7. If at the end of demo trading period you are able to make profit in your trading, then perhaps you may be ready to take the next step in your trading journey.

8. Open a small micro Account with not more than 20 dollars. Trade with a cents account. You will most likely lose all the money in this account but you can see it as a necessary sacrifice.

9. Open another Micro Account trading with a cents account, this time there should be some improvements and this account should last longer than first, but will almost certainly end up being liquidated.

10 After the liquidation of second micro account you may try one more time. If after the third attempt you still lose your account, this writer strongly advise that you take a six months break before repeating steps 8-10 or quit Forex Trading completely.

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