Forex HowTo
Guide to becoming a successful FOREX trader
I need to start this off with a disclaimer, I'm a beginner learning as I go, please understand that this is a work in progress which no doubt will change as I learn more about becoming a successful FOREX trader.
The steps I have written below are by no means the only way to become a successful FOREX trader, however it's the method that I've mapped out for myself and hopefully it may help some other beginners (particularly if it works for me).
1. Signup for a Demo FOREX Trading Account
1.1. Jump in and see how things work, expect that will lose large amounts of virtual cash.
1.2. Once familiar with how things work then open a new DEMO account (I forgot to mention to use throwaway email accounts at hotmail or similar) with favourite broker and spend as long as it takes to become successful.
1.3. STUDY HARD
1.4. When can consistently make a decent profit without too many big losses then move to the next section
2. Signup for a Mini FOREX Trading Account
2.1. Make sure that the trading strategy developed and applied in 1.3 works well with the Mini FOREX Trading Account
2.2. Profit
2.3. When the balance on the Mini FOREX Trading Account exceeds the maximum allowable balance move on to next step
3. Upgrade to a Full FOREX Trading Account
3.1. Profit
3.2. See previous point :)
