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…]
{ 0 comments }
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. 
Trading Forex or any of the financial instruments can be nerve wrecking, especially for a newbie unless you take time to study the traps that lies ahead and prepare to avoid them. This is very important because a lack of this basic step will end up costing you a fortune or may derail entirely any hope of financial reward that a good trade can bestow on you. One the things that confronts a newbie, by newbie I mean a novice trader, is the lure to make money from nothing. A good guess are the Forex Ads that promises a huge leverage on a tiny investment of less than a thousand dollars. They are simply designed to make you open an account but not necessarily meant to make you wealthy. They are legitimate enticements for you to open up a trading account with that particular broker but by no means should you be deceived into thinking that you’ve landed a jackpot at the casino. Do you know that statistics have shown that 99% of people who start Forex trading end up loosing money and quit trading in despair? I hate to spoil your interest in Forex trading with this unsavory news, but it’s better for you to start this exciting money making venture with your eyes wide open and feet firmly planted on a very lucrative business. In response to your emails here are what to avoid as a newbie. 
