Is Forex trading hard to learn, give me your honest scoop? -

What kind of funds do you need to start ? In essence, Learning forex its easy, but mastering its the Hard Part. You can learn the basic rules, technical analysis, fundamental analysis, candlestick, pivot points, time frame, trend lines, Fibonacci, support amp; resistance, price action, leverage, money management and position sizing, you can even Learn a hole system and methodology to trade mechanically and even with that you can lose money. Like a few of the other people have pointed out it can be difficult to learn about how to trade in the forex currency exchange just from an ebook and doing so could be costly as you try and learn the ropes. You can start learning by quot;paper tradingquot; or using a demo account like previously mentioned. Another great option is look at some tutorials and get your feet wet. Here s a site that offers a free 5 day forex learning tutorial in Video! This covers all the basics that you need to know. It s broken up into 5 days so you don t have to feel overwelmed by all the information all at once. I liked it because well it s a video so it s more interactive then reading an ebook, plus it s free. It is far from being easy - you should get a good tuition and learn it from the ground if your really want to be successful. Otherwise you waste your time (and money). Take a look at this recent testimonial for http://www.NiTrading.info Hello Nathan. I wanted to send you a brief comment about your NI trading program. I was the guy who sent you the comments from the professional trader who trades accounts for others (and until recently had a very good track record). As you may recall, he was very skeptical about your claims on your website. Well, I certainly am glad I did not listen to him!!! I went ahead and purchased your material and have been quot;wrestlingquot; with itfor a couple of weeks now. Your method requires a good amount of work and concentration. I have a long way to go before I master it, but I can see light at the end of the tunnel. I have to say that it is by far the most brilliant trading approach I have ever seen......so much so that I can not imagine wasting any more time examining or evaluating another method/system/approach. As I mentioned in my last email, quot;I am a very small trader in terms of account size, but that has not stopped me from purchasing trading systems, software, and books by the truckloads as well as attending many seminars and workshops, and I have made it a priority to look into just about everything that is advertised publicly.quot; Your cycle analysis is vastly superior to even the most sophisticated and complicated methods I have seen. I really don t know how you conceived this? You make so many of the self appointed experts look silly when they insist that there quot;is no holy grailquot;, or that a perfect or even near perfect trading method does not exist. I have read (quot;plowedquot;) through the manual and have watched the first 5 videos, so I have a long way to go, but I can already see the amazing power in this approach. At this stage, I certainly can not identify all of the trades that you see and I have a lot to learn when it comes to transitioning from one time frame to another, but I can identify some of the very obvious trades......and I can see why you insist that if the rules are strictly followed, we should be able to trade with few if any losses. I ll give you a testimonial when I begin actual trading in a month or so, but I just wanted to thank you for making this available to me. John B. Depends on what you want to achieve in the forex market. If you want to short the market when you sense a high level of bearish sentiment, then all you have to do is open an account, select the appropriate leverage, and then sell the currency. Easy? That might make you some quick cash here and there, but there s no way you will profit consistently by doing just that. You need to ask yourself these questions. What type of trader do you want to be? High frequency Trader, News Trader, Position Trader, and etc. Doesn t matter what kind of trader you ultimately choose to become, you know these are the traders you will have to compete with. Forex is a zero-sum game meaning you can only win at someone else expense. The chance of coming out positive over an extended period of time is less than 10 percent in Forex. This means that you will need to beat 90 percent of the traders applying the same strategy that you are applying to make money. Example: Sample of 100 News Traders- Trade #1 *Assumptions* - All traders will use same stop-loss. Eur/Usd moves 40 pips up. 10 Traders set 10 pip TP - 10 PIP SL = 10 pip profit 10 Traders set 20 pip TP - 10 PIP SL = 20 pip profit 10 Traders set 30 pip TP - 10 PIP SL = 30 pip profit 10 Traders set 40 pip TP - 10 PIP SL = 40 pip profit 60 Traders set 60 pip TP.- 10 PIP SL = 10 pip lost Assuming Euro reversed after 40 pips 40 traders made money. 60 traders lost money. Trade#2 Eur/Usd moves 30 pips up. 10 Traders set 10 pip TP - 10 PIP SL = Net Profit 20 pip 10 Traders set 20 pip TP - 10 PIP SL = Net Profit 40 pip 10 Traders set 30 pip TP - 10 PIP SL = Net Profit of 60 pip 10 Traders set 40 pip TP - 10 PIP SL = Net Profit of 30 pip 60 Traders set 60 pip TP.- 10 PIP SL = Net Loss of 20 pip Assuming Euro reversed after 30 pips 30 Traders made money 70 Traders lost money Trade#3 Eur/Usd moves 20 pips up. 10 Traders set 10 pip TP - 10 PIP SL = Net Profit 30 pip 10 Traders set 20 pip TP - 10 PIP SL = Net Profit 60 pip 10 Traders set 30 pip TP - 10 PIP SL = Net Profit of 50 pip 10 Traders set 40 pip TP - 10 PIP SL = Net Profit of 20pip 60 Traders set 60 pip TP.- 10 PIP SL = Net Loss of 30 pip Assuming Euro reversed after 30 pips 20 Traders won 80 Traders lost Of course, the math behind trading is much more complicated than this, but this sample is only used to illustrate my point. Not only does your strategy require defined Stop-Loss targets, but it also has to be conservative relative to the other traders. Once you ve practiced trading long enough, you ll know where to set your stop-loss. The challenge is where do you think the other traders are taking profits if you ve got a very high average intelligence then perhaps simply reading ebooks and other reading materials would do you well and get you going easy, however if you are just like myself and several others then i believe you need personal mentoring to make it through successfully. if you are really interested in forex then i can recommend this site to you. you can open a quot;mini accountquot; for just $100 and they will provide you a personal Account Service Manager (ASM) to walk you through the basics in forex trading. you can talk to your ASM live via phone, email or chat to discuss everything you need to know. your ASM would serve as your mentor and trading partner and will even trade wtih you just to make sure you get familiar with their system. aside from quot;miniquot;, other available accounts are gold, platinum and vip. just note that the opening a higher account would entitle you to more features and benefits. meantime, you may register and download a Free Forex Ebook for your initial reading. Hello there Anyone can learn Forex Trading. There are many companies that offer Demo accounts so that s a good way for you to start. You can start with as little as $1000.00 for a mini account. I also suggest that you go to a Forex seminar or work shop to learn about it. One thing you must remember (you do not make money all the time) you must be prepared to loose money some times. I never traded in FOREX but what I know is that particularly what ever you invest in you must think that its not your money again and its you never had it.....because the gains are very very lucrative and similarly losses will make you throw on the road. So be careful. Free ebooks and articles abt forex http://www.tjgroupforex.com