Comments on: how can i be good in forex for just $1500? http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/ Discussion of Forex Trading and Currency Trading Sat, 19 May 2012 12:56:47 +0000 http://wordpress.org/?v=2.3.3 By: Pete A http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4733 Pete A Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4733 $1500 is fine for forex trading. Whether you'll be "good" at it is another question! :) Just study some forex trading books and don't waste money on expensive courses. Don't try to make any "proper" money in your first year. Just trade the smallest size you can until you've found a method that works for you. Find an account that lets you "paper trade" if you can. Only when you're consistently winning more than you're losing should you scale up the size of the trades so that you're making useful sums of money. $1500 is fine for forex trading. Whether you'll be "good" at it is another question! :)

Just study some forex trading books and don't waste money on expensive courses.

Don't try to make any "proper" money in your first year. Just trade the smallest size you can until you've found a method that works for you. Find an account that lets you "paper trade" if you can.

Only when you're consistently winning more than you're losing should you scale up the size of the trades so that you're making useful sums of money.

]]> By: Grant M http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4734 Grant M Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4734 To make money in forex, you have to be smarter and better informed than the ones you are trading against. They are mostly professionals, trading millions and with research departments behind them. Avoid anyone selling a 'system' to trade. Avoid forex. Put it in a share index fund and leave it there. I To make money in forex, you have to be smarter and better informed than the ones you are trading against.

They are mostly professionals, trading millions and with research departments behind them.

Avoid anyone selling a 'system' to trade. Avoid forex. Put it in a share index fund and leave it there.

I

]]> By: Common Sense http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4735 Common Sense Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4735 If you've had years at trading stocks using "technical analysis", you may have a chance of making money. But the odds are against you. If you haven't taken a few years to learn FX and "technical analysis"... you've got a 96% of losing your money in the first 3 months. Anyone that tells you otherwise will make money from your misfortune. If you've had years at trading stocks using "technical analysis", you may have a chance of making money. But the odds are against you. If you haven't taken a few years to learn FX and "technical analysis"… you've got a 96% of losing your money in the first 3 months.

Anyone that tells you otherwise will make money from your misfortune.

]]> By: ajb http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4736 ajb Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4736 Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets. Here is a free site that shows what has happened after economic news releases: http://www.forexnewspatterns.com Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets.

Here is a free site that shows what has happened after economic news releases:

http://www.forexnewspatterns.com

]]> By: MightyMike http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4737 MightyMike Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2008/06/23/how-can-i-be-good-in-forex-for-just-1500/#comment-4737 I've blown 4 separate accounts in the span of 6 months. Im what you call an emotional trader. Very stressful 6 months! Anyways discipline is # 1 also i found this blog a while ago..... here.... http://forex-killerpipsreview.blogspot.com/2008/02/forex-killer-review.html I havent blown my account so far, so thats definitely a plus and i am on top, not a lot, nevertheless on top. It taught me to put some stops and take pofits which helped me out and its automated so i dont have to sit at my comp and watch myself lose money 6 hours a day! Hope it helps! good luck :) I've blown 4 separate accounts in the span of 6 months. Im what you call an emotional trader. Very stressful 6 months! Anyways discipline is # 1 also i found this blog a while ago…..
here….
http://forex-killerpipsreview.blogspot.com/2008/02/forex-killer-review.html

I havent blown my account so far, so thats definitely a plus and i am on top, not a lot, nevertheless on top. It taught me to put some stops and take pofits which helped me out and its automated so i dont have to sit at my comp and watch myself lose money 6 hours a day!
Hope it helps! good luck :)

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