So if you’re reading this I guess you’re new to trading or are just in the phase of considering if this is the right thing for you.. Let’s just make one thing clear, you can’t get rich over night, forget that, a lot of work and patience is required to be successful. And even after a successful year, you can have a bad month and loose the most of your profits or even everything! So you have a few options now, you can choose to trade FOREX (world currencies), Commodities (silver, gold, oil, sugar, etc.) or CFD (trading shares without having to physically own them).
A great thing is if you have a close friend that’s already in that business and you can have him as a mentor. It’s much easier that way but if you don’t have anyone familiar in Forex business, then join some forums because they can be a really great source of information (DonnaForex, Forex-TSD, ForexFactory).
Don’t rush into things and invest some big amounts of money just to practice. Open a free demo account with the same amount of money that you’re ready to invest and trade with that. This is the best way to learn money management and your trading strategies/techniques. Most new traders open demo accounts with 100 000$ or more but they would only invest 100$ into a real account and things like that can mislead you because profits on 100k$ accounts can be huge and on a 100$ account only a few bucks. And don’t forget about the psychological factor. It’s easy to lose 20$ of a 100$ account but imagine to lose 2k$ on a 10k$ account or even more. It’s not that easy to manage your emotions in drawn down periods on big accounts.
A cool thing are Free no deposit bonuses! Yes, you can get free money with zero deposit made. Every now and then when brokers decide to have a promotion they’ll give out free bonuses.. So they will give you a free forex/commodities/CFD bonus 10$-100$ and this is real money on a real trading account! It’s a nice thing to start your trading carrier. Most of them will limit the withdrawal on profit but not all of them.. I can say that those bonuses are REAL because I already have experience with these free no deposit bonuses and I’ve made a few successful withdrawals. Check for the currently active no deposit forex/CFD/Commodities bonuses. The great thing about free no deposit bonuses is learning about the broker. You’ll see their execution times, slippage and other limitations. So this is a nice way to find a trustful broker, that you can invest your money into. If they provide you with a nice free bonus, let you withdraw the profits and if you’re happy with their services, why not choose them? And the profits that you will make from the free no deposit bonuses can of course be withdrawn! Check the forex bonus withdraw proofs!
And here’s all the magic of FOREX trading. There’s no secrets, everything is on you!
Good luck trader!