If your new to spot forex trading, be sure to familiarize yourself with your trading platform. I know this sounds pretty basic, but for some reason many new traders pull the trigger on orders, without really looking over their platform.
Demo accounts are great, and can really give you a pretty good feel for your trading platform, and skill level. However, be advised trading in a demo account is very different psychologically from real currency trading. If your down 5 thousand in a $25,000 virtual account, im not really worried. However, Loosing real money can play havoc with your emotions. I am a licensed futures and forex broker in Las Vegas, Nevada and I have been trading for over 8 years. I have run across all kinds of trader types. In a nutshell, unprepared traders who are undercapitalized, %95 percent of the time lose all their capital, and sometimes even more. If new traders would like some hints on how to stay alive in this business (not game), I would be more than happy to drop suggestions here in this forum. Remember, in order to be profitable..you have to master several key areas of trading...psychology of the markets, emotional control, and a solid trading plan. I wish you all best of luck, drop an email if you wish, and happy trading.
Raul Ruiz, Jr.
Licensed Brokers
Suggestions for new traders
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