I have heard a lot about Forex Trading recently and how you can start with a small amount of cash. Is there any free online courses or more information available?I just wanna say. The guy about me doesn't know much about Forex Trading, but talks as if he's an Advice expert. The Advantage of Forex Trading is it lets you decide how much margin you are willing to use. If you choose a margin of 100:1 or anything higher, that's gambling. If you choose anything below that margin and play very carefully with your money, you can make some very nice returns. How does 30 percent a week sound? For starters, start out with as little money as possible. Why? You are bound to blow several accounts before you actually get the hang of it. Game accounts are good too, but the only problem with game accounts is you will probably not take it as seriously. Start out with an account of maybe $400. If you profit from there, Great. But even if you lose that money, at least you won't cry over it. I am currently making a consistent 40-50 percent return a month on Forex with a 50:1 margin. THAT's HUGE. If I was trading without margin, that would be about 1percent. LOLX. Improper money management = gambling. Make good use of that margin, and you'll be rich. Just do the math.FOREX is very risky because they offer you substantial margins and call it an advantage. For example, if I buy a stock on the stock market for $100, and it goes down $1, I lose only $1 on paper, and if it later goes up to $100 before I sell it, I lose nothing. With Forex ,they give you 100 to 1 margin accounts, and even 200 to one. With Forex 100 to 1 margin, you can invest $1,000, and buy $100,000 worth of currency. If the currency goes down by only 1% for 1/10 of a second, you lose all your money, and it does not matter if it goes back up. It is gone. If you really want to trade currencies in Forex, don't use margin and you can't fall into that trap. Of course, you will only make 1/100 as much money. Ooo, what a diabolical trap. The odds are that only 50% should make money with FOREX trading, but only 10% make money at FOREX trading. A 90% failure rate is really bad.Forex trading?What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don't know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($5000) account. You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade. Greed can do funny things and a winning trade can end up a loosing trade. Follow these 10 steps 1. Get access to and read as much free information as possible 2. Download free Forex Charts 3. Take some Forex courses 4. Test and trial a couple of different forex strategies to determine which is best for your personality. Don’t rush this stage as you will really get to know yourself, how you react to loss, greed, fear and you will come to an understanding of how much time you really want to commit to your trading. 5. Open a demo account with an online forex broker, and start with a conservative amount in your account between $5000 and $10,000. 6. Simulator trade for between about 3 months 7. Open a Mini-Forex Account and fund with a conservative amount of money, between $300 - $2000. 8. Build your confidence by taking small amounts from the market consistently. 9. Throughout this whole process develop a trading plan that will consist of a. What size your real trading account will be b. How much you will trade each time c. What timeframes you will trade d. How much you will risk each trade 10. Trading for Real - Start trading a real account and continue to monitor and track your progress, recognising that you are a continual learner.
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