Before going any further, we will honestly tell you to do some consideration before trading.
90% of traders have or have even experienced money loss, mostly due to lack of planning, training, discipline or poor money management.
If you don't like losses or are super perfectionists, you will definitely find it difficult to adjust to the trading business because almost all traders experience losses at some point in time.
2. Forex trading is not for the unemployed class or those who have low income or have credit card debt, can't afford to pay electricity bills or can't afford to buy food.
You must have at least $10,000 of trading capital (in a mini account) that can be used as collateral.
Don't expect to become a gazillionaire for just a few hundred dollars in an instant.
The forex market is one of the speculative markets with its huge size, high liquidity and tendency for currencies to move in trends.
Don't think traders around the world are all rich, in fact only a small percentage of traders are successful.
The problem is, many traders enter this trading world with high hopes, but put aside the truth that they don't have the discipline to really learn the art of trading.
As well as lack of discipline in running a diet or exercise three times a week.
In fact, if you don't want to do this, how is it possible to think that you can become a successful trader?
Short term trading is NOT for amateurs, nor is it a "get rich quick" path. You can't make big profits without taking big risks.
A trading strategy that involves taking a large level of risk means suffering from inconsistent trading performance and is bound to suffer heavy losses.
A trader who does this may not even have a trading strategy - unless you call gambling a trading strategy!
Forex trading is NOT a get rich quick program
Forex trading REQUIRES skills with TIME to master
Traders who are experts are able to make money in this realm. However, as with any side job or career, success doesn't happen overnight.
Forex trading is not as simple as one might think.
If it's true that forex trading is easy, then everyone who trades should already be a millionaire.
In fact, even traders with long experience can still experience periodic losses.
Keep this in your head: THERE ARE NO SHORT ROCKS IN TRADING.
It takes a lot of PRACTICE and EXPERIENCE to master it.
There is no substitute for hard work, discipline, practice and perseverance.
Learn to trade with a DEMO ACCOUNT until you find a suitable method while mastering its advantages or disadvantages so that you are comfortable trading with objective analysis.