subject: Is It True, A Complete Beginner Can Make Money Trading Forex? [print this page] Is It True, A Complete Beginner Can Make Money Trading Forex?
The problem most people face with forex trading is that it is not as straight forward as some software developers like to make out. Having made that statement, it is possible for a complete beginner to make money trading forex with the right program.
Forget automated trading systems for now as some knowledge of the forex markets is required to understand what you are doing and to prevent simple mistakes. As a complete beginner making money trading forex is a new concept, so let's first look at what forex trading is.
Forex trading is the fluctuation of one currency against another, allowing traders to profit from the fluctuations whether the fluctuation is up or down. It is a misconception that you need a lot of money to speculate on the forex market, in fact you can get started for as little as 100. It is the last two decimal places that we are betting on in the forex market or quite simply 10th of a cent.
Now we know what forex is let us look at what makes a good forex trader and how a complete beginner can make money trading forex. A good forex trader is patient and in control of their emotions. You would be surprised how scared people can be not just of losing money but of making money as well, it is the overwhelming feeling that you should get out of a trade when the information available tells you to stay in it that one has to deal with.
The best way for a complete beginner to make money trading forex is to join as forex club. A forex club is a group of people that trade together over a webinar that is coordinated by a professional trader. Basically the professional trader trades and everyone else copies, that removes the emotion as you just have to copy the professional.
