I am not sure with which one to start. I am not going to start immediately. I am thinking on reading some books and practicing on paper markets or practice forex markets.
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May 11th, 2010 at 6:57 am
Trading forex at 100:1 leverage can blow out your account quickly. Either de-leverage or swing trade. A trader can trade almost any market. Doesn’t matter which, and it will take time to develop a preference. Each trader must determine his own time frame and market.
There is no such thing as "easier," or "better" in the markets, in general. Those are subjective terms. Learn to think precisely, in full truth, not "in general." If your aim is precise, you will hit your target or know why you misse.
Trading is the most difficult challenge you will ever choose, and thus the statistics that 90% of all traders lose money. Most successful traders lose everything several times before they figre it out, after several years of hard work. If you’re doing it for the money, you will grow weary easily. You have to be driven to trade for itself, before you will become a trader, and then maybe not.
Read all you can and study hard. Do not rush to throw your money away. Like you said, trade a simulator.
http://simulator.investopedia.com/Default.aspx?viewed=1
Develop a trading plan, including stops and money management. When you have 100 trades on a simulator you will see a pattern. If you lose, nothing lost, and time to study more and revise your plan.
May 11th, 2010 at 6:57 am
I agree with b2now,
You really want to get in the right field and know what your doing. There really is no easy way. Learn the basics and apply what works.
Get solid training in whatever you do and avoid fads and get rich quick schemes.
May 11th, 2010 at 6:57 am
Take a better leverage and try a demo account.
A good trader that allows you to earn real money on demo trading is http://www.forex-hunt.com
May 11th, 2010 at 6:57 am
Learning to trade and at the same time demo trading works best. Do not trade your live account until you are profitable and consistent in demo trading.
Understanding how and why the market moves and react according to it. Price action is the key.
Asia Forex Mentor
Ezekiel
May 11th, 2010 at 6:57 am
It is personal preference, just make sure you practice before using your personal cash. It took me 6 months of practice accounts before I finally learned how to profit in forex.