What you're really doing is learning how to be a trader. What you decide to trade is unimportant. What you decide to trade will fit in well with your method, strategy and aptitude. But you must first discover your time frame, risk level, and how to use good money management techniques.
Know the number one reason new traders fail? No trade plan. I guess most people just figure they'll "try it," and 85% of new traders fail. Without a mentor or a structured environment like a work site, working around and with other traders, your chance of success is almost nil.
From one mentor:
Most traders we speak with have learning curves that have cost them between $15,000 and $70,000 and up to two years in time.
If you insist on trading, at least give yourself a chance and learn to trade stocks or commodities first. Forex is the worst possible market for a beginner to learn. Learn all you can about risk (most beginners focus on huge profits with huge leverage -- big mistakes), and you might stick around long enough to learn something.
Best to learn how to be a good investor first. After a couple of years, you might still want to branch out into trading.
Why do you want to be a lamb among wolves?
Forex is a negative sum market (zero sum minus commissions). For every winner, there is a loser.
As a beginner, you will lose. The competition has huge advantages in experience, systems, data, education, newsflow, etc. These experts take money from novices like you.
Retail forex is also full of SCAMS; forex robots, expert advisors, binary options, signal services. Many of these frauds attempt to advertise on Yahoo Answers, so be cautious of any links.
You would do much better investing long term in stocks where the market grows over time.
The forex is an excellent investment and a great opportunity to work.
This is the best site for forex, pay regularly and safely.
You can get excellent income if you follow the advice that you find in the guide books and in the course offered by the site.
Minimum initial investment. For many years, active, reliable.
Allows you to invest in shares.
You can copy the investments of the experts and you can get more money from
invest for each friend you enroll.
The site pays you via PayPal, credit card or bank account.
Charts and free assistance, free forex course, forex competitions with prizes.
Also fun.
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click, wait and then click next to enter.
The same way as not being an Indian
I am an Indian citizen.I want to trade Forex .i heard RBI says it is illegal for Indians to trade forex exept for INR currency pairs. I want to trade all currency pairs which does not include INR also.Some of my friend said it is possible.But how? Forex traders please help me
