Four Tips to Help You Succeed in Forex!

Hey everyone. I know it has been a long while since I've last posted but I wanted to put up some valuable advice for all you forex beginners out there. Let me first begin by saying that beginners often have the best luck when it comes to forex.This is because they have yet to be poisoned by hopes of magical indicators to tell them exactly what to do. This, in turn, allows them to look at the markets with an unbiased set of eyes. I would like to share with you all that you will ever need to know to be a successful trader, whether you are new or not. It's just human nature and psychology that end up being what makes trading difficult for most people. Trading itself is a very simple concept but our human nature is what makes it difficult. Below are four things that will help you on your road to becoming a great forex trader.

1. Support/Resistance- This is simply your supply and demand. Knowing this real well will help you succeed.

2. Trend Lines

3. Risk/Reward- The key to this concept is do not risk more than what you are trying to gain.

4. Money Management- The key to this concept is to not be greedy. If you become too greedy, you may end up losing everything.

So I wish everyone the best of luck and may the riches be with you! :)

Demo Trader Vs. Live Trader

Alright! I'm back after a week and a half off from blogging. I've decided to dedicate this post to show you all the difference between demo trading and live trading when it comes to forex. Over the years, people have been posting success stories of how they've made a "profit" while demo trading. For all of you who do not know what demo trading is, it is simply practicing trading without using real money. Usually people want to be successful in demo trading before stepping up the the big game and becoming live traders where their money is at stake. However, being successful at demo trading is completely different than being a successful live trader. This is due to one major reason, and that reason is the mental aspect of winning and losing your actual hard earned money. It is easy to risk "demo" money when you are not attached to the money and losing it won't change anything. However, if you were to lose your real hard earned money, you would be more conscious of the way you trade and the amount that you trade with. Therefore, this post is to warn anyone who may be currently be successful at demo trading and are thinking about going live and trading with real money. Be sure you know what you are getting yourself into. Again, the foreign exchange market has many profitable opportunities but keep in mind that there is still the potential of losing money!

Happy trading everyone!