FOREX IS NOT FOR YOU!!!

First of all, have you read my “Brief Introduction to FOREX” and “Why FOREX”? If not, please read them first.

Now moving on, Like I said, FOREX IS NOT FOR YOU if….

1. You are looking for a Get-Rich-Quick Scheme

It is true that some people do make insanely large amount of money trading FOREX an hour or two a day in their pajamas. But, these people are FOREX experts with years and years of experience. Over time, they become skill traders.

Now get this, trading skill, like any other skill, does not and will not happen over night. You have to learn, practice, fail, and learn again and again and again. It takes time and lots of effort. No Get-Rich-Quick.

Suggested Reading

	Getting Started in Currency Trading: Winning in Todays Hottest Marketplace (Getting Started In.....) Price: $6.95 List Price: $19.95
	Profiting With Forex: The Most Effective Tools and Techniques for Trading Currencies Price: $25.97 List Price: $55.00
	The 10 Essentials of Forex Trading: The Rules for Turning Trading Patterns Into Profit Price: $14.00 List Price: $34.95
	Forex Made Easy : 6 Ways to Trade the Dollar Price: $3.99 List Price: $29.95

2. You cannot stand failure. Or you cannot accept Loss

I read it somewhere that 90% of traders lose their money. This might be largely because of lack of planning, discipline or utter clueless ness. So, chances are, your first few FOREX attempt will end up with loss (hopefully not large one). Then, you might slowly be able to get grip of the pattern and start profiting. Then again, even pros do lose every now and then.

Thus, if you are a person who don’t take well to losses, FOREX is definitely not for you. In fact any activity that have some amount of risk (such as, err…about everything in this world) is not suitable for you.

3.You do not have enough capital.

Even though there are a few online FOREX brokers who let you trade with a less than $300 minimum in margin account, it is widely known that to enjoy significant profit (or suffer significant loss) in FOREX trading, it is advisable that you have a minimum of $1,000 (some even suggest as much as $10,000).

Not only you have to come up with as much capital, you should afford to lose it all too. Because, chances are, you might.

So, if you are unemployed (with zero balance in your checking account), can barely afford your utility bills, have no idea where the money for you baby’s formula will come from, FOREX is definitely not for you.

So, before you decide to plunge in FOREX, be 100% honest with yourself and ask,