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Hello from Scotland

Discussion in 'Hello and Welcome' started by mvagusta, Aug 14, 2010.

  1. mvagusta

    mvagusta Recruit

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    Hi all and great site. I've been looking at forex for the last few weeks and bought a book on the subject to learn the ins and outs.

    I've found it difficult to find a broker after some of the reviews although it looks as if I've found one that suits me.

    I've been using a demo account for the last week and made some reasonable profits after learning that what goes up also comes down. Issac newton got that one right.

    I'm still learning and probably will be for a long time, although a charting tutorial for us newbees would be helpful.
     
  2. Harrypall

    Harrypall Recruit

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    Forex

    I think your approach is commendable Learn and then play to avoid burning yourself
     
  3. RahmanSL

    RahmanSL Major

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    Jan 16, 2010
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    mvagusta, welcome to the world of forex where over 3 trillions USD trades are made every trading day!

    "....and bought a book on the subject to learn the ins and outs."

    There is no need to buy books on forex as you can get them for free in the world wide web.
    For further concise explanations, log into "FAQ" & "glossary" here at FPA, 100Forex Brokers, Forexoma.com, and a whole host of other sites where you can read up and begin to understand what forex is all about. For a lively traders' forum, go to FxOpen broker site to read what real traders are going on about with their daily trading.

    There is much to learn, and even after 10 months after discovering forex, I am still in the learning process.
    Don't pay for forex courses, forex signals, or anything that offers to "teach" you forex for a fee.
    If you have any questions, post them here at FPA and I am very sure some seasoned traders will give you advices for FREE!

    Go on Demo account(s) and find out what all these buttons are for. Don't be afraid to make mistakes, for that's what Demo accounts are for. Practice, practice, and learn to control your emotions as at the end of the day this will be crucial to a healthy real Live account.

    Be patience, making loads of money in Demo accounts does not mean you are good at it. You will discover that just a couple bad trades can wipe out your carefully build-up account literally overnight...as I did mine (quite a few times) from bringing a usd5k account to over usd77k and wiped that out with just a few very bad trades. In all, i must have wiped out at least usd1.5million virtual money.

    Forex, to me, is extremely interesting and fascinating and, as a businessman, I can see the huge potentials in investing a sum of money over a period of time and realizing huge profits which no banks and stocks in the world can give us in returns.

    All the best in your journey and I do wish you will find the experience as interesting and fascinating as I did.
     

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