A few pieces of advice for the beginner forex traders

  • Don't expect to become a proficient forex trader in one go. Success in online currency trading, as well as in other areas of human endeavor, comes with time and effort. If forex were easy, all everybody would be a millionaire. In fact, even the best traders with numerous years of experience suffer big losses once in a while.

  • Do not open a real account before demo trading successfully for at least a few months. Always keep in mind tat demo trading is way easier as it is not as psychologically burdensome as when you put your own real money on the line.

  • Focus your attention on only one or two currency pairs. For a beginner, it gets pretty complicated and confusing to follow more forex pairs and the news related to them. As the great wise men put it "K.I.S.S. - keep it simple, stupid."