Forex Trading

So you want to be a forex trader. That's great, but it's not for everyone. I don't want to scare anyone away from the forex market through this article, but I just want people to see what kind of feelings and thoughts go through your mind while trading. Forex can be an extremely profitable career or just a way to make an extra few hundred bucks a month. It can also leave your account high and dry in a matter of moments.

It takes more than technical analysis and fundamental analysis to become a successful trader. Your mindset, or psychology, is equally if not more important than these other factors. I did not think this was the case when I opened my first live account. There is a huge difference between trading on a demo account and trading on a live account. The difference is the stress that goes along with a live account. Your using real money! This is why many traders do fairly well on a demo account, but when they open a live account everything falls apart. This is also the reason why the majority of traders lose their entire account the first time they give a live account a try