Online forex trading

Learn how not to lose money on forex by Andrew W. Keynes

In an almost ridiculous manner that seems to conflict with logic and reason - forex revenues can really be generated only after initially learning how to lose. A famous singer once sang: "You've got to know when to hold 'em, and know when to fold 'em".
In this article, I would like to cover the "fold 'em" part. Almost all beginner traders probably will raise an eyebrow, yet learning how to lose is the key to learning how to win.
Let's just say you have already taken that course and read all the background material you could come up with. Incessantly, you went over every word, and as quickly as possible, too. With your mortgage in mind, you decide to wire $2500 to your broker. Your self-directed account is already set up, and you're opting for no forex broker advice. Advice - who even needs it, right? You have your secret weapon: a trading manual that came along as a free gift with the course! You are about to funnel some serious cash from this huge market right into you bank account!
Monday morning. You call in sick so you could kick off your forex trading career. With yesterday's lack of sleep in consideration, working today would have been too tough of a nut in any case. You glimpse through your material one more time, a few minutes prior to opening bell. You plan on trading the E-mini today. The bell rings, and you are off. You are looking to trade the opening gap, that's on page 13. We all know how this one ends... In your mind you have already made the millions, when actually you have mislaid almost 50% of your investment, merely since you lack the appropriate money management skills. This is the most hopeful state of affairs, as many times rookie traders who dive right into the forex pool quickly find themselves completely broke. The proper way to do this would of course be learning the market from head to toe and only then starting with a mini-lot. My advice to you is to consult your broker before any major investment or move.