Is your email inbox flooded daily with recommendations to trade this pair or that pair of currency? Are you constantly being bombarded with one offer or the other from software peddlers who promise Forex trading on autopilot? Are these endless telephone calls, unsolicited robot calls from perfect strangers driving you crazy? Do you find yourself being tossed around like salad in a China fish bowl? What of ebooks sellers with promises of heaven on earth? Are you a victim of these outright manipulations especially in Forex trading?
Maybe your strength is Stocks or Commodities, it does not necessarily change what you are about to learn. The three deadly mistakes you’ll ever make as a rookie trader. Mistakes that has ruined many and rewarded a few others. [click to continue…]
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We all speculate! Don’t kid yourself if you think otherwise. If you can get this basic element of truth, the central core of any business, you would have been many miles ahead of your peers. So let’s begin a basic understanding of margin and margin calls which are at the heart of a successful trading business.
Last week I got a startling question from a reader asking about the easiest and best way to make money online. It was a question from a newbie who has spent lots of money buying one internet gimmick after another, lured by the false promise of instant money. This reader’s concern is mostly an anxiety shared by many who venture into online money making opportunities.
The Chinese have a saying or proverb, he who chases after two rabbits ends up losing both. How does this relate to you as a trader? You are about to discover the key ingredient that has made successful traders extremely wealthy. But what does it have to do with placing orders? After all, you want to make money and placing your trading orders is all that counts, you think. But wait, a study was conducted not too long ago to find out the main reason why most inexperienced traders fail to place successful trades, revealed a shocking statistic. It was revealed that young traders like you are often distracted by multiple trading positions and that lack of a single minded focus was the greatest culprit. 
Judging by the email and comments I’ve received both in public and in private, it looks like most of you are more interested in Forex trading. So, the next five posts will be on Forex trading, a basic guide for beginners. This is going to be an introduction to currency trading, written in simple language to help you get a grip of the elementary aspects of this business.
