Perhaps, the most important thing that a newbie should know before starting trading is the fact that trading forex is quite the same as any other profession which requires certain skills and knowledge. Forex is not a source of easy money. THere is no easy money left in the world, actually, so in order to be a succes in forex you've got to work hard and always improve your skills, otherwise you'll blow up your budget. More than that, you shouldn't underestimate your psychology as it plays crucial role in a decision making process. Traders make money only after a thorough analysis of the market and setting up accurate and concrete goals.