There is one golden rule that you must follow if you are going to trade real money from day number one. Learn the platform first and then trade micro lots of .10c to prove your success. Don’t kid yourself and think you can just roll with an account with $10k and trade full 1.00 lots or you will crash and burn. Crawl, walk, jog, run and then sprint. You can potentially make a lot of money and get very rich slowly, but it will usually be quicker than you think if you learn these skills.
Opening an Account
When you start trading Forex, open an account with no more than $1000 dollars. In fact, you can open an account with as little as $200 if you wish. You can add more money to your account in time with your success and profits but here’s an iron clad guarantee. If you can’t turn $1000 into $2000, there is no hope that with more money such as $20,000 that you will turn that into $40,000. It rarely ever happens and for those that do, it’s usually luck.
Andrew Barnett is the co-founder of LTG GoldRock and is an avid Forex trader and blogger on the subject. If you have any questions or comments, please leave them below.
