You are a new forex trader, recently joined the game. The most common way to start practicing forex is to open a demo account, where you can practice your strategy with virtual money. How long should you trade with demo account before switching to real cash? Is it necessary to open a demo account or you should just jump in? Do demo accounts differ from one broker to another?

The first thing you should realize is forex demo accounts may differ from one broker to another, therefore even when it comes to practice you have to find the right broker! What are the main differences in free demo accounts? Here are some:

The opinion about how easy it is to learn forex trading seems to have two sides – while some resources claims that 90% of traders don’t make it, others provide arguments regarding the possibility of mastering forex and earn the living. Which source should you trust? Is it so black and white? Or it is rather gray? Do you have a chance to become a professional trader? Read more...

With lots of different ideas and attempts to claim the ownership of a forex “holy grail”, it is still rather questionable whether there is such a thing as a perfect forex trading system. All over the internet there are discussions about trading strategies – what really works and what doesn’t. In my experience, however, most proclaimed perfect systems today are scams and have absolutely no information on how to become a successful trader. Read more...

Forex trading is considered a risky investment; therefore many are hesitant to even try. Is it the fear of the unknown, or is Forex really that scary? What are the risks involved? Are there ways to avoid the pitfalls? Read more...

Forex trading brings together a crowd of completely different people – diverse professional background, unique personalities, unlike financial and marital status, location, gender, age, political and religious preferences, and finally different trading styles. What are those trading styles? Which one is most profitable? How to figure out which style suits you best? Read more...

Rejection of something that doesn’t fit the social routine is a common behavior among us. People don’t like what they don’t understand. Even worse, we generally tend to be afraid of the unknown. How do people react to forex trading profession? Do you tell others that you trade for a living or you prefer to hide behind more “accepted” professional labels? Does your partner understand your trading career or they classify you as crazy and in need of a “proper” job? Read more...

A lot of beginners in forex trading feel that the market often goes against them. Sometimes it feel like the market is starring at you, waiting for you to enter and as soon as the entry position is made, forex somehow manages to turn the whole trillion market against it in the matter of seconds. Do forex pros somehow know your emotional weaknesses, so they can trade against you? Is there a big forex market conspiracy going on?!

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Becoming a millionaire is every forex trader’s dream. Many beginners search for examples of super rich in forex market, but usually fail to extract any documented proof on the internet. Does the law “if you can’t see, it doesn’t exist” apply to trading? Are there millionaires in forex?  Read more...

Foreign currency exchange market is an attractive and lucrative online investment opportunity. More people worldwide are trying out their skills and luck in forex trading. And who can really blame them?   Read more...

Online forex trading has turned to a full-time profession for many. However, a lot of traders were involved in other professional activities prior joining the forex market. Millions of forex traders with the same agenda today came from different backgrounds. This made me think, is there any relationship between the past profession and forex trading ability?  Read more...