Education Is the Key to Successful Forex Trading

Since I came in contact with Forex Trading back in 2002, I have learnt quite a lot. If you are new to forex trading, the information you will receive online will be overwhelming sometimes. My first contact with Forex Trading was through "HYIP" -High Yield Investment Programs. I invested with these people, but lost my money. So your first lesson, is beware of Forex scams. The marketing information can be so thorough, you can hardly figure out if it is a scam. Sometimes, you see even infomercials. Please be careful when to react to these products regarding Forex trading.

Education is the key to become a profitable forex trader. I studied and implemented many strategies. Majority of these left me with a $0 demo account from $50,000. This was pretty shocking to me. I lost many demo accounts. Its pretty devastating. Don't allow this losses to discourage you, because forex trading is really very profitable as I discovered at last.

My first advice is beware of FOREX TRADING Scams- there are many out there. My second advice is trade a demo accounts until you become profitable. If you are still loosing trading a demo account and you start with a real live account, the same failures will reflect on your real account. You might become frustrated and prematurely abandon an otherwise lucrative opportunity. Whatever happens, don't give up. This has been my forex trading experience.

As you trade the demo, continue to educate yourself on the forex. There is a lot to learn, but don't pay huge sums for forex courses. Any course above $500, don't go for it. Some people are deceived, thinking the higher the cost of a forex trading course, the more efficient the course will be. Don't be fooled. Most of these are rehashed information, that you can easily find online. I will do my best to link you to some pretty neat sites where you can get basic education on forex and I will write some good practical articles that will help you also. The main thing to master in forex trading after your basic education on trading the forex, is your emotions. It played a huge part in my failures and now my quite success. Again if you are new to forex trading, take your time and get yourself educated.

If you are already trading a demo, you will find a strategy that turned my business around. It helped me to move my demo account from $50,000 to $155,000 in 2 months. And this results is now reflecting on my real account.

If you are completely new to forex and you do not know what a demo account is or what forex is, don't worry. You will pretty soon. There is a link on my blog to a complete FREE forex trading course. Learn everything you have too for free. With a solid foundation in forex trading education, you can easily evaluate a product to see if it is what the cost.

Caroline Bisong
I started my forex trading carrier back in 2002. Got educated and traded the demo on and off for more than 2 years. I decided to start trading live back in 2005 and it has been a wild ride and I have learnt quite a lot along the way. I hope to share my experience as a lay person in hopes that you will avoid my mistakes and improve your forex trading skills.

http://1-online-forex-trading.blogspot.com