Thread: Tips To Be An Amazinggg Investor: Absolute Must Read!

This Is Long But Worth The Read I Promise!

Whether you're investing in Forex, stocks, gold & silver, exotic, or anything else, earning money with investing is a lot more than just your initial deposit & luck of the draw. Successful investing takes practice, time, the right tools, an unshakably positive attitude & eventually, investment skills that come with educating yourself on the type of investment you've chosen.

Tips To be A Great Investor

One of the most important aspects of investing is getting started on a practice account, especially in Forex (I say especially in Forex because that's where I started ;-) )

Let me share a quick story with you, one which got me started in the world of Forex trading & investing.

A little over 5 years ago, I decided I wanted to trade Forex. Forex looked like an awesome opportunity & the idea of trading currencies seemed "easy" HA I was in for a surprise! With no experience & barely an inclination of what the FX market was, I hastily signed up for a demo account at a very popular broker. After a single night of trading (& earning $2,789 on my demo account bringing the total up to $52,789 :o) I felt confident starting a real account.

That confidence was false confidence. I created a real account & made a deposit of $1,000 (about half my savings back then). & guess what?? I lost it all with one week.

At one point my account grew to over $1,570, just by sheer luck I guess, but within 7 days I was down to $22.

It's safe to say I didn't hit the ground running in Forex..actually it's more accurate to say I fell flat on my face in the beginning. But I learned from my mistakes, picked myself up, started trading on a demo account with the same broker AND another broker (to try them both), found other ways to earn money online & within a few months I was making $600-$800/week online between my endeavors(while in my final year as an undergrad at very competitive school).

After 5 more months of practicing & learning Forex strategies, techniques & gaining extremely valuable experience. I went back into Forex trading, this time with a $2,000 with one broker & a micro account of $25 with another.

The rest is history, now I can call myself a true Forex trader, someone who understands & enjoys the market, the game of trading Forex.

The Moral Of The Story:

Learn from my mistakes!

~ Do Not start jump into trading with live money right away!

~ Test Everything (as many brokers, trading tools & systems & strategies as possible)

~ Gain Experience, read books, ebooks, blog posts from experienced traders, test everything!

~ Have Other Sources Of Income, preferably ones which you can live off of. I was fortunate to be in college as an undergraduate when I began, so my living expenses were very little. Just the money I earned from my other sources was more than enough to sustain me. MAKE MORE THAN THAT FROM YOUR OTHER SOURCES! FIND WAYS! They are out there trust me!

~ Most Importantly: Goodluck, if you ever need help I'm always just a pm away. I'm not going to trade for you, or try to give you the next best trading robot in the world but I will help you out & I will point you in the right direction

Indeed Forex education is the most important thing to have before entering this market. 95% Traders loose there money in the initial stages because they are not aware of the basics of forex. They try to speculate the market movement which makes them loose there money.

It is advisable that new investors should learn the basics on a Demo account and should then enter the market after they are confident enough on there trading plan and strategy.