| I've been trading the currency markets off and on since February '04, and I'd like to say...
1 - Yes, you can make money trading.
2 - It takes emotional / psychological conditioning to be successful at it - otherwise you won't be trading, you'll be donating.
3 - It takes A LOT of study and A LOT of time.
4 - Is it possible to start with a few hundred and turn it into several thousand in a few weeks or months? - Yes, its possible, but extremely improbable.
5 - Is it a dirty business? - Yes. There are lots of scumbag brokers out there and they do some slimy things against their clients...but these tactics - once known - can be exploited to your advantage.
6 - Its too easy to lose your money...I've blown up accounts to the tune of ~ $12K...a costly education, but I'm still trading...
7 - DEMO trading is NOT the same as LIVE trading...
8 - Did I mention that brokers are slimy? Google REFCO... many brokers will often play games when it comes to filling orders...a call to the NFA a/o CFTC is then in order...
Lastly,
8 - Education, Practice, Discipline, Education, Practice, Discipline, Education, Practice, Discipline...if you think its going to be easy, scratch that thought and give your money to charity, because this is a rough game...
So really, its up to you. Expect emotional highs and extreme lows. Expect to lose money. Expect to work extremely hard, and take some bruises...expect tears - yes, tears. But after time, yes, you CAN do it. If you're looking for an easy way - this is NOT it. The best system you'll ever trade is the one YOU create...If you're still interested, go to forex forums and read read read...get a demo and practice - and keep practicing before you risk a dime... |