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Tuesday, June 23, 2009

95% Lose Money and 5% Get Rich With Forex - Learn the Way of Winners

If you are new in the Forex market, this place may seem scary to you with all the complicated figures and charts. This market is not as complex as it looks. It is just like any market in the world: commodities, stocks, gold, or fish market. You make money when you buy low and sell high. You lose money when you buy high and sell low. It is that simple. When you substitute commodities, stocks, gold, and fish with currencies from all over the world, you will get the picture.

What distinguishes Forex from other markets is Forex is the largest financial market in the world. Trillions of dollars change hands daily. Furthermore, this market never sleeps. It operates 24 hours a day and seven days a week, making the liquidity of the Forex market unmatched by any market in the entire world.

Forex trading is not centralized in one location. It starts at Sydney and ends in New York. If you want to trade in Forex, you can disregard the local time. You can trade currencies anytime of the day. There is always action for you somewhere in the world because while most New Yorkers are asleep, Australians and Singaporeans are wide awake and waiting for you to trade with them.

In the past, Forex trading was the uncharted water for most of us. Thanks to the advancement in information technology, the internet is the equalizer that brings Forex trading to your home. Forex became one of the most lucrative "Make Money at Home" businesses.

Today, a housewife with a few hundred dollars to spare can trade in Forex and make an extra income. A college student can trade in Forex from his dorm room and pay his way through college.

When I first entered the Forex market, I was a college sophomore who wanted to make a quick buck. I borrowed one thousand dollars from my brother and lost it all in a month because of my overconfidence. I lost a couple of thousands more before I learned lessons from my past mistakes and accepted Forex robots as my assistants in making trading decisions.

When a newbie who is ready to enter the market asks me for an advice, I always tell him to study the fundamentals first before buying a Forex robot. Test your robot with a demo account. If you succeed, then do it with real money. Invest wisely and your account will be stuffed with dollars.

[expert=James_P._Allen]

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