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.
At first I did not know how to respond without bias, myself as a trader. Yet I wanted to answer forthright and candidly as possible as I can. I had to bump the concern of this reader ahead of my scheduled post, the third post on Forex Trading which was queued up for publishing. I will return to Forex Trading in my next post but for now let’s take care of this reader before he loses his mind. [click to continue…]
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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.
This is a quick post to remind you, last minute shopper that your time is almost up. The train is about to leave the station. It will be another six to nine months before, you get this chance again. What am I talking about? Christmas shopping?
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. 
