Why new traders will almost certainly lose

One reason new traders start losing is because they have been led to believe that forex trading is an easy way to make money – almost like a game. Hundreds of web sites promise instant riches from a few minutes spent on line at the computer keyboard. The marketing techniques are so convincing that it’s difficult not to be persuaded first to find out a little more, then give it a try. It’s free after all.

They open a demo account and start trading. Amazingly they start increasing their account value. It really is easy! So they choose a broker who promises the most and open a ‘mini’ live account. Only a few hundred dollars, so why not?

Why not? Because if that was you, you will almost certainly have lost that money already, and so quickly, you wonder what happened. Now you take a step back and think there must be more to this ‘game’ and there is. A lot more.

Consistently successful traders are few and far between. Even the experts lose money some of the time. It is anything but easy to win on the forex markets.

Brokers and agents and others involved in the marketing of forex products and services are not the ones to try to get “the truth, the whole truth and nothing but the truth” from. Many tell outright lies. They are in the business of making money. Your money!

This blog aims to help ordinary people who do want to learn to be successful at foreign currency trading, mainly by advising them what not to do!