sirwilly

That is true. Evry tarder knows what he can achieve within the limits of his expertise and trading balance. Otherwise, he will merely be incraesing his risks by stretching his resources to the limit

We often still fall back on our demo account especially when we want to try a new trading strategy which outcome we could not be sure of if we tried it on our live account.

Without patience it will be hard for the Forex trader to make any profits. This is because the trader may throw i the towels before he gets a chance to fully understands how the markets work.

@ djfritz:

On a personal basis, I will say to try mt5's trading signals. I will give them a workability level of 70% which is really above average considering that a lot of signal providers these days rate well below 50%.

I've used their analysis a few times but without success but that may easily have been because I was a beginner trader at the time and I may have made some wrong inputs.

Well, that's a matter of convenience really. I guess my final take on the issue will be if the trader can afford a mentor-fine and good. Otherwise, there are still a lot of online resources to lean back on.

That makes me bother as well. I guess there will be some TOS appended to the free money. Brokers almost are too mean with their money, so it is worth the doubts that we have.

That's the spirit, friend. I also have not been able to make my dream money fro trading because I haven't got the balance I would like to deposit. I still have to do with a trading balance of less than $500.

I would prefer a live mentor only when I run into difficult trading concepts. But then, the advantage of figuring out these things by oneself is that they tend to stick better, and the trader understands the concepts better.

I used Forex factory once and I remember being satisfied with the analysis on the site. It's a great tool for beginners and experts alike as they release up-to-date info all for free.

Patience is the key to Forex. This is so because losses are sure to come, and if the trader gives in too easily, then he will be defeated out of the markets. Patience is the key to surviving in the very liquid Forex market.

Well, who is a new trader here? May be you should try the broker and give us a report as to the authenticity of their claim.

It may be that the broker will actually give that sum, but will attach "terms and conditions" to the contract.

It certainly will need internet connection either through 3G, GPRS or WiFi. The truth is that mobile trading is really very convenient especially for long term traders so that they can monitor their trades while on the go.

Well, it's good you have a plan of what to do. First, resolve the cause of your loss before you resume trading so that you do not end up making the same mistakes. May be you can share your problems here.

Well, if you are referring to trading signals, then may be you can try the ones provided by Action FX or FxFred or Mt5. You will have to determine how

well it works for you, but many traders are satisfied with their services.

Sure, if one rushes into Forex in haste, then they will have all their leisure to repent of the decision. Forex should be carefully studied and demo-practiced before the trader is qualified to try a real account.

Well, the verification is actually a good step, except that t can get really inconvenient when the broker keeps rejecting your verification requests time and again.

If you are able to get $10 per day on a $100 deposit, then it is possible to earn any amount of income fro Forex. It all depends on the deposit and leverage you choose to use.

Okay. Let me take Leverage.

Leverage can be described as being able to purchase currency worth more than your purchasing power. For instance, with leverage, the tarder can buy $2000 worth of currency with his $1000 deposit. The extra is provided by the broker, but this is not without risks for the trader and the broker.

Ouch, that's sad but a necessary step in rading. Unless you experience MC< you can never know how important it is to manage risks as well as manage your money, but once you lose out on the market, it's an indelible lesson.

If the broker gives free money especially if it's a huge deposit, then you should expect the process will be rigorous and be prepared for it. Nothing interesting comes easy, as we say.

The majority of traders will prefer manual trading because it gives the trader the chance to actually learn Forex and get used to the reflexes that are quite common in the markets. Robots deny us this rare privilege.

No, Indieover, you are wrong. A high leverage means that instead of buying 1000 lots, you will be able to buy 2000 lots with the same amount of deposit. It's like giving you a chance to buy several times your purchasing power. Consequently, any pips made is multiplied by your trade volume which has doubled in the example.

Definitely, the trader won't go on trading ad infinitum. At a point in time, he should feel that his eforts have become optimal at least, and that is the time to move on to live trading even with minimal deposit.

With little effort, one an make profits with the Pamm systems and it is especially designed for traders who are not satisfied with their abilities or expertise in trading especially when a lot of money is involved.