Hi Haden,Welcome.Trading currencies can be rewarding but the...

Hi Haden,

Welcome.

Trading currencies can be rewarding but the vast majority of traders, from what I'm told, loose their shirts very fast. Please do take this seriously.

I have been trading and trying to learn for a while and I am still loosing faster than I am learning. Thus, I am not a good person to teach you other than to caution you.

If you want to learn about Forex trading, you could get in touch with a service provider such as CMC Markets.

Once you open an account they will send you some CDs that will assist you not only with Forex but also with trading in general e.g. Technical Analysis.

Please note that I mentioned CMC Markets simply because they are the platform that I use. However, I believe there are other also good platforms which will assist you with training materials.

By way of disclosure, I have no other association with CMC Markets other than being a client. Also, I am not a broker and I am not trying to sell anything. Like yourself, I'm on this forum to learn from those who are more successful.

If you do decide to give Forex a try, please do be careful.

Ensure that you have formulated a trading plan, wich should comprise a trading system or approach or methodology, as well as sound money management principles.

Do not underestimate the value of a trading plan and above all the importance of sound money management, especially in Forex.

Above all, you need very strong discipline.

When you feel comfortable that you've got the hang of it, consider paper trading for a while.

Then, when you are quite certain that you are on the right track you can trade with real money.

Good luck Hadden and don't be too cavalier about this caper - it can send you to the cleaners before you know what happened.

The above is said not to discourage you but to make you aware of the realities of Forex trading.

Having said that, there are successful traders out there and some on this forum. I am not one of them - not yet.

Cheers, good luck and take care.