A Beginners Guide To Forex Trading

I'm here to share with you a guide to forex trading for all the beginners out there. With forex being one of the fastest growing markets with the birth of the internet, there are a huge amount of people that want to get into it. I want to share with you some advice that has helped guide me on my way to profits.

I want to practice, but I don't want to lose all my money. Is there a way to practice free?

Yes there is. Once you get your forex platform you're going to have access to a demo account. These accounts allow you to simulate real live trades in the market. It is the closest thing you can do to learn this market without having to spend a cent of your own money learning. You can find strategies and try them out for 100 trades to make sure you're confident with the strategy.

I feel like I'm making the right moves, but I'm still losing. Why?

I'm going to assume that you're making the wrong moves, but it's hard to say. forex can be a lot like poker. At times you'll make the right move and still lose. You need to recognize that if you made that move 10 times, you'd profit on 9 of them. You just happened to hit the one time it is a loss.

If you're acting as a cold calculated trader than you're probably making pretty good moves. All that I mean by calculated is that you're just making trades on numbers, nothing else. You're not going with your gut or what your friend tells you. You make your moves when the numbers look good.

I making small trades, but I'm losing. Why?

Well, assuming you did fine in the demo account, than I'm guess your margins are too small. You have to remember that brokers are going to take practically a flat rate of a trade. If your trades are very small than your profit is going to be reduced by fees and your losses are going to be greater by fees. It gives you a distorted look, since you're down, but if your trades were larger, you could be ahead. Try to make larger trades. Not too big, but big enough, so you're not losing most of your profit to the broker.

By: Tyler Ziggler

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I'm currently giving a 7 day free forex training course. Newbies and experienced are all welcome. If you're interested in participating, check out the Casual Forex Trader.