Suggestion for newbie

[Mary Frederick]

Forex trading can be hard especially for new traders. New trader often lose money due to lack of knowledge, strategy, analysis and skill. First trader should focus on learning rather than making money. Demo account is the best place to practice what you learn. As for me, I learned my trading from Eurotrader free educational resources.

 

[Alexandoy]

I agree that learning the trade before you indulge in trading is a good precaution to be safe in the trading. A friend in the bank where I used to work said that speculators in forex usually lose money because they just rely on the indications or the trend. What's important is you have an insider information particularly from the central bank of the country. The trading of money is done by banks. When the dollar appreciates it can affect the value of a foreign currency unless the central bank sees that there are lots of dollars coming into the country. That kind of information is the money maker of some forex traders.

 

[Dita Walczak]

Proper knowledge and trading education is able to make a trader perfect. There are many traders who make a profit but they cannot sustain that profit because their mentality is very weak. And they can be emotional in trading. Successful trading is never possible without emotional trading. I have gained experience after trading for a long time and that knowledge helps me to make a consistent profit.