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That which really makes Forex a good part time job is the convenience of trading ffrom where ever and whenever (though there are preferable trading times) with little or no capital. Considering its status with these benefits, one would say it is just the best job on a part time base.

Sure, I know so many "not so knowledgeable in Forex" that assume that once you are in money, you can easily gamble your way around the market and make profits. Even the trader with the smallest capital can effectively manage it more than the rich trader.

Well said, the mistake that hurts the most is that which may have arose after some detailed analysis which must have taken you a lot of time but truly, such painful mistakes are mostly from the trader's avoidable mistakes.

I will say most things about Forex is good. You talk about the convenience, enabling you to trade from anywhere, the low start up capital and yes, the status but it doesn't mean there ain't no bad side of it.

Is that not the height of risk itself. For the best interest of trade, it ia highly advisable for one not to invest all he has in Forex. Even when there are times one should take CALCULATED risks, it doesn't mean the person should do so to the detriment of his own self or his trading business.

You know sometimes, most newer traders have this impression that with Robots, they can learn Forex and start trading in the shortest possible time. And it makes them believe robots just do all the things for you and understand when the market is bad as well.

Actually there are big time traders who try and set out the minimum amount they try to hit and work towards achieving that but doesn't mean they hit this target all the time.

And that is basically why one cannot easily predict that which he can earn within a particular time. However, I think the range of expectations should be determined by how much is the investment or better still, the capital with respect to the person's skills.

One even discovers that in forums where the newbie should be more concerned about learning the basics and understanding how Forex works, there questions most times are tailored towards making quick profits.

Well, you are right because with the pace of earning in those programs, it would take ages to hit the all time $2000 or even the $400 per month.

And it is that impression they have about how lucrative Forex is that makes them jump into it and try to hit it big as well which they eventually fail to and get frustrated alongside.

You know sometimes when one considers how complex it seems to be and the rate at which people lose in it, then it won't be out of place to put up such question.

Now we take it this way, even before a newbie gets to start using a Demo account, the tutor or whatever means he is learning with will let him know this "do not invest that which you cannot affort to lose". Without sentiments, that fresher would have understood that losing is part of the...

If the starter account is what you mean which is the fee free account, there is also the possibility that the users will exceed the limit and upgrade to that which has charges.

Running a search and review online would be a great way to list out credible brokers. Thereafter, you can decide to seive them off depending on your what you like and dislike about a broker.

Actually, the fact is that majority of those that are even into Forex are not being so happy with it due to the losses but they still find it didficult to leave it. That is exactly why one would easily assume those people are happy with Forex.

Of course you will lose your money if you do not posses adequate knowledge about Forex and you go into it. But you can start with Demo after you must have gotten adequate theoretical to move over to the practical part.

You know, this believe that a Demo account is just all a newbie needs to make it all in Forex is what really makes them think nothing else exists. Even when Demo account is very effective for learning, one shouldn't also forget the need to learn other ways theoretically.

I think one of the worst mistakes one would make is trading on news when he isn't sure of how the market is moving. More so, to avoid trading with reliance to data supplied by unconfirmed Forex news sites.

Exactly. It is the dream of every trader to be a force to be reckoned with in the Forex world but not all eventually make it that way. Those that finally becomes admirable traders are them that stood through the hard times and endured it all.