Anyone doing forex at the moment, please advice on the idea on getting into it and tips.? -

found a very good online study about it and currently immersing myself to it, it seems quite simple and exciting..please advice. Congratulations on starting to learn Forex. I remember when I discovered Forex myself and how excited I was about the prospects it brought. It really sounds like you are trying to do the right things to be success. Here are 3 tips I would offer anyone just getting into Forex: 1) Absorb EVERYTHING you can come across about Forex. There are literally hundreds of free education and Forex forums online. Some are very good and truly provide a great service to the new Forex trader. I personally don t recommend you pay money to any of the gimmicky Forex sites trying to peddle education or automated trading software. While I am sure there are many that are legitimate and decent, there are also many that are scams and a waste of money. I have found that everything you need to know to trade Forex successfully you can find for free. 2) Master the art of disciplined trading. This really is the key. As is often said, quot;Plan the trade, and trade the plan.quot; Build your own trading strategy using the many resources online, create a solid money management strategy, and then stick with it. The biggest mistake new and/or unsuccessful traders make is spending hours creating a trading and money management plan only to abandon the plan a couple trades into a losing streak. 3) Every losing day is an investment into a winning one. In sales there is a saying: quot;Every NO is one NO closer to a YES . So it is with Forex. Losses are part of the business. Rather than beating yourself up every time you have a losing day, shake it offer and remember that you are that much closer to your next winning day. If you have a solid strategy and you stick with it, you will be successful in the long term. Yes, forex is very interesting and you have taken the right step, which is education. It is simple but not easy. Deep emotions involved. If you can managed your emotions and follow the rules of your trading plan, you will do just fine. As you learn forex trading, my advice is to trade as many demo accounts as possible to test your strategies, before risking real cash. I lost many demo accounts. When I finally settled with my simple strategy and turn my $50,000 demo account into $400000 within 6 months, then I decided to open a live account. My first live account was $300. I lost it all, inspite of my strategy. Then I opened another account with $4700, this time it was different. I did not leverage my account alot. My strategy has been for every $3000 in my account I trade 1 lot. So I traded just 1 lot with this account until I got to $6000, then I started trading 2 lots. You really must stick to your trading rules. Everytime, I have allowed my emotions to take over without following the rules, I have lost. Everytime, I have confirmed my trade following my rules strictly, I have won. I explain my simple strategy on my blog. Source. I found this site that had this guy that said how much he loved forex autopilots(software that trades for you automatically). He said they have a lot of hype surrounding them with lots of big claims, and they most likely wont make you a millionaire over night. That doesn t mean they won t work though. He says to try one on a demo account, and study during which trends its most successful, and when its not. Then take that information and apply it to a live account by running the autopilot only during times you know it will most likely be successful. If this sounds interesting then I highly suggest checking his site out. Lots of great reviews... I am a complete newbie to the forex market, but I didn t want to read all the ebooks and have to mess around with the time of learning the ins and outs. I know, its the lazy way, but so many people claim to be making huge money, I wanted to get into it right away. I actually bought a software program called the forex tracer and have had it running on a demo account for one week now. This software is really cool. It sets up and closes trades as determined by the software, so I don t have to do anything, other than open the software and let it run. Currently, I have 6 profitable trades completed by the system as follows: Proftits: $9 $273 $45 $190 $11 $80 It currently has one open trade that hasn t closed yet, but so far so good. I have close to 50 days left on my trial period, so if it keeps going at this rate, I m thinking about investing some real money into an account. If it tanks and starts showing losses, I ll probably just request my refund. Regards, B The only tips are learn and practice. There are some free ebooks at my site. Download them and learn