Jan 13, 2010

Starting Forex: Falling in Love and Getting Your Heart Broken

Hey guys,

As a forex trader, I always enjoy chatting with other people about currency trading. These people could range from professional traders who can make thousands of dollar a day to young and excited 'fresh meat' who have just entered the vast world of forex trading.

The Old Traders
One common factor is very prevalent when I speak to forex traders who make good money day in and day out i.e. They all have either lost money OR had blown an account when they first started their journey in forex trading (someone I know told me he lost USD 250,000!).

The Bold Traders
On the other hand, some of my conversations with forex beginners, I deduced another fact i.e. If they had luckily (or unluckily?) made some money while trading a demo account or even a live account, this small form of 'victory' makes them feel on top of the world and that they were born to trade forex. After a period of time, these people would then somehow proceed to the category of "have lost money" and/or "have blown an account".

What can I deduce from the above?

The possibility of making very good money coupled with a lot of amazing marketing out there draws people into the forex markets day by day. Forex beginners are very prone to believe that forex trading is easy only to discover the water is deep once they are in the pool. Once they realize that forex trading is NOT as easy as it seems, some lucky ones will pull out of the market while the unlucky ones will continue to gamble away their money (I know someone who has kept trying for 10 years!). Those that do not give up and continue on learning will find that forex trading is just like any other business. You need to dedicate your time, money and effort to be able to reap the excellent rewards that your relationship with the market provides.

You will get your heart broken when you blow up that account. Grief if you must, then get up, get over it and continue on your journey to be a successful forex trader.



Happy Trading,
Leo

29 comments:

Unknown said...

Yup...absolutely agree.

Leo Ong said...

Yup...I absolutely agree with you agreeing

Daniel parker said...

Great one!!! agree with you too.... :)

Want to know How to make profit with online Forex?

David Ritchson said...

Actually there are new kinds of traders that are smarter and more aggressive. These kinds of traders are still young at heart and they don't back off when it comes to gambling big stocks needless to stay having a big capital to back them up.

binary options trading

agshue said...

When i was starting to trade i lost usd15000 in one week i was very down that time but i m not quit, now i make profit usd 500 to 2000 daily

Stanley said...

Beginners should take it slowly. It is advisable to learn the basics before investing.

Option Trading Strategies

Simon Greenwhich said...

I agree with the comments. Investing is not easy. It involves a lot of tricks and schemes before mastering it. With the advent of technology today, new innovations have been incorporated to Forex affecting the binary options trading platform. It is always safe to ask a help from an expert before dealing with Forex Market.

Unknown said...

I get headaches trading my own FX account and found the websites below, where I let their skilled money managers trade part of my capital, I also benefit from there forex cashback service and free trading articles :
managed forex accounts and investing in managed futures.
forex cashback
forex cashback articles
forex trading offers blog

nancy john said...

Forex trading is open 24 hours a day and therefore you need to ensure that the forex broker that you choose operates at all times of the day. 

futures stocks Trading

Divid Inv. said...

Get the Highest cashback in the world with invstoc 80% weekly rebate Invstoc

recoveryfxfunds said...

I am thankful to you for this article because you are providing such good information as I see about forex trading. It's giving me good information and helping me. Share more articles like this. Online Scam Recovery Solutions UK

fxgaininfo said...

These types of suggestions are very useful to me. You are providing good knowledge of Forex. I hope everyone will enjoy this article as much as me. Thank you for sharing this with us. latest Forex News online

throttll said...

This post about fxreviewtrading is so informative and makes a piece of very nice information on the topic in my mind. It is the first time I visit your blog, but I was extremely impressed. Keep posting. Bitcoincash

Forex Mentor said...

Starting Forex: Falling in Love is a good reason! You can boost trading fund easily with deposit bonuses! Get a 30% - 100% deposit bonus easily.

William Jessie said...

I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much. rebate forex

Laura Bush said...

I read your post and got it quite informative. I couldn't find any knowledge on this matter prior to. I would like to thanks for sharing this article here. cryptocurrency exchange primeXBT cashback

royalrecoveryexpert said...
This comment has been removed by the author.
royalrecoveryexpert said...

Thanks for sharing the best information and suggestions, it is very nice and very useful to us. I appreciate the work that you have shared in this post. Keep sharing these types of articles here.Online Scam Recovery Solutions UK

Finance Recovery said...

This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quality post.! best recover stolen cryptocurrency service provider.

Recover Funds said...

Great article by the great author, it is very massive and informative but still preaches the way to sounds like that it has some beautiful thoughts described so I really appreciate this article. Best recover my bitcoins service provider.

Ultrarecovery said...

This is really a good source of information, I will often follow it to know more information and expand my knowledge, I think everyone should know it, thanks Best forex scam recovery service provider.

Finance Opinions said...


Great article by the great author, it is very massive and informative but still preaches the way to sounds like that it has some beautiful thoughts described so I really appreciate this article. Best best online investment advisors service provider.

DT4X Trader said...

Absolutely knowledgeable content. Thanks for sharing this kind of content. It is very helpful and very informative and I really learned a lot from it. DT4X trading

Coins Shield said...

This is really a good source of information, I will often follow it to know more information and expand my knowledge, I think everyone should know it, thanks Best best cryptocurrency trading platform service provider

Finance Recovery said...


Hey what a brilliant post I have come across and believe me I have been searching out for this similar kind of post for past a week and hardly came across this. Thank you very much and will look for more postings from you. forex scam recovery

piprebate said...

Very well written article. It was an awesome article to read. about rebate forex Complete rich content and fully informative. I totally Loved it.

Vancouver Bitcoin said...

You have a genuine capacity to compose a substance that is useful for us. You have shared an amazing post about best bitcoin wallet Canada.Much obliged to you for your endeavors in sharing such information with us.

Capital Security Bank Cook Islands Ltd said...

A very delightful article that you have shared here.Online Trading Accounts Your blog is a valuable and engaging article for us, and also I will share it with my companions who need this info. Thankful to you for sharing an article like this.

SWIFT ASSET RECOVERY said...


It’s great to come across a blog every once in a while that isn’t the same out of date rehashed material. Fantastic read. Forex Scam Recovery Services

Post a Comment

DISCLAIMER

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. ForexAndLife.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.