Quick Quiz: Can anyone really make money in Forex?
Forex is a wide high-speed freeway to financial disaster IF you don’t know how to survive.
Simple? No! Easy? Never! Quick? No way!
Man, can anyone really make money in Forex then?
Yes!
How?
The quality of learning you put in will determine the quality of trading you pull out of Forex.
You can trick yourself, but you can’t trick the market.
Is learning how to trade Forex difficult?
Yes.
Too difficult?
No.
It is challenging in a good way. Many even get addicted. But the ultimate goal to find financial freedom and stability trading Forex drives everyone from beginner to advanced trader with ever growing inspiration. I’m a bit mad about Forex too :) Otherwise why would I keep a website about it :)
What is the quickest way to earn money in Forex for a newbie?
Have a friend who already earns money in Forex share his trading system with you.
What is the other quickest option?
Buy a system that works. Keywords here “That Works”.
Where can I get such system?
I don’t know.
Why would anyone sell a system that really works?
Because it doesn’t work for them.
Because it doesn’t make enough money.
Because it is unreliable in the long run.
I don’t believe you! I saw many systems for sale. How can I tell which one is good?
Usually the more money sellers ask, the better they feel about it.
In most cases you won’t get a chance to demo trade a system before buying, so you should rely on your senses, ask other fellow traders and learn who a seller himself is.
Grrrr… So what should I do? I want to trade Forex!
And I want to build a house on the moon.
While my wish is not possible (at least nowadays), yours is very much so!
Trade it, but first learn how to trade it.
Where can I learn?
Start from free online resources.
They stink! Well, majority of them is of a poor quality!
You bet. That’s a tendency nowadays.
Bad webmasters create lots of spam and spam-like sites…
Some like to steal information from others…
Aaaaaa… I’m helpless!
I hope it is a joke.
Ok. I’m not. So, you tell me to go online and read about Forex?
Yes, bit by bit you’ll be more educated about Forex. Sooner that you think, you’ll be able tell good Forex online resources from bad ones.
Anything else I should do in the first place?
Open a demo account with any Forex broker.
But I don’t know anything about trading yet!
And you won’t know until you launch a trading platform and look at Forex charts and start exploring on your own.
Believe me, it is fun, you’ll be given demo money, which you can try to trade immediately. You can’t lose anything by trading demo!
Good luck my dear friend!
Let success be always with you!
Wa-a-a-a-it, I have so many questions left!
Oh, you’ll have even more once you step on a Forex discovery path.
Pleeeease, one more question 
Your have a beautiful smile, well, go ahead, one more…
Any warnings about Forex I should know?
Glad you used your chance to ask a good question.
Forex marketing industry is tough.
Once you go online, you’ll be bombarded with various “cool” and irresistible offers to buy Forex products that will “change your trading forever” and encouragements (even phone calls) from Forex brokers and their representatives to open live trading accounts.
While you’re a complete noob make sure you:
Don’t buy anything, unless you’re rich.
Don’t open live accounts, unless you like seeing your money go.
Now you can’t leave without answering why… right?
Hmm… a trap…
Demand creates supply: as lots of noobs come to Forex searching for answers how to trade successfully, those who’ve been there for a while are happy to sell a “solution”.
The problem is: not all of course, but majority of Forex products have nothing valuable in them and teach you the same basic stuff you can easily access online for free.
But until you don’t know much about Forex, you can’t tell a worthless product from good. So, don’t buy anything: books, signals, courses, systems etc while you are a newbie.
The same is about live trading. You are doomed to lose if you know little about trading and risk management. Thus, don’t put real money into Forex while you’re a beginner.
But if you like extreme feelings, and want to try it anyway
Don’t pay much while you learn.
Learn on your own, trade demo for some time – you must cover basics by yourself.
Later, leaving a beginner’s pool, you’ll be able to choose what fits your needs and budget.
Once again, good luck!
I’m sure you’ll have a good time!
** Forex Dark Lord **
My Master nothing new!!! com on tell us something we don´t know. I´m sure this forum is not for newbies . Talk about the holy grail!!!! Tell us the true ads give you more money than FOREX???
Haha :)
With ads I can buy an average dinner once a month. They are probably more of a decoration than income, unlike Forex.
This post was indeed for newbies. Yeah, I was in a good mood and so I wrote this dialog :)
Don’t take it too seriously, simply enjoy it!
By the way, you are one of the few brave guests, who actually talks to me. Others are… scared? I hope not.
I won’t know what to write about if no one talks to me.
Everyone who has something to say, criticize or comment is my best guest!
hello Forex Lord of Darkness,
Great site! Love the cautionary darkness pics…
BWAAAHAAAHAAAHAAA!!!!! screams…then silence…;)…
Perhaps you should add a little Rocky Horror Picture Show!!!
Damn it Janet!!! I told you not to trade yet!!!! :D!!! :)!!!! :0!!!!!!!
Thanks from a noobie :)
forex looks so complex, with all the anylitical tools that somehow seem like gambling. be honest with me, how do i truely make money from forex. cos tired of too many brainstorming. thanks
It looks complex, when you open charts first 10 times, and then figure out how to set first 10 trades. Everything else is the matter of observation, rules and persistence.
Observation: I think I started to SEE things on Forex charts after few months of pure observation. By that time I also started see charts in my dreams :)
Learn to observe charts. It takes time.
Rules: any analytical tool alone is useless. You have to combine tools, depending on their qualities. In other words you have to create a system - a set of rules upon which you will trade. Observation will allow you to create those rules.
What I did and still love to do, I write my observations down, everything I find interesting.
Oh, nearly forgotten, the MASTER of all Forex tips: Eliminate all guess work!
If any of your rules have double meaning or you have to take decisions based on your perception, you won’t be consistently successful in trading.
Persistence: without it you’ll give up after trying for some time. If making a Holy Grail trading system in Forex was so easy, we all would be millionaires by now… Hmm, I think I said this few times already…
Good luck, my friend!
I’ll start now, and you’ll finish it when the time comes:
Open Daily charts of any currency pair. Add Bollinger bands indicator (200, 2), add 20 EMA.
Everything above middle Bollinger band line favors buyers, while below - sellers. Same for 20 EMA - everything above it favors buyers, below - sellers.
Price going beyond Bollinger band lines indicates a strong pressure. While the pressure rises, traders enjoy a strong price move. What is crucial to remember that things under pressure can pop up explosively - so you’d need to protect yourself with a trailing stop.
Now it is your turn to continue the story…
Good luck!
Thanks alot. i appreciate your advice. i really want a make a fortune from forex. will you advice me to sudscribe for forex signals or buy a forex autopilot/robbot alongside my practice. from your experience in forex which of the companies/website can you recommend that i subscribe for signals, and which robbot is the best. thank you my friend.
Ahgrrrr… Don’t buy any stuff!
You will make the right decision if you learn on your own first.
I started explaining why and the answer has grown quickly, so I made a dedicated page, which I invite you to read.
http://forexdarkside.com/buying-signals-systems
Nice site, My Lord. Enjoyable and original.
(I will add a link to my page)
Hi Forex Lord of Darkness! Glad to see so many great advices.. You mentioned using Bollingerband(200,2) with 20 ema on daily chart on any currency pairs to identify the volatility, buyers and sellers…but what did you actually wanted to convey are you trying giveout any strategy or just wanted to expalin price action. I will be glad to learn from you.
Cheers!
Hi fx scalper,
It is a strategy, a wrapper, if you wish. It helps to collect initial data at a glance and know who is in control (buyers or sellers) and how strong they are.
Everything else, the stuffing, is up to a trader. E.g. how he wants to enter, when, where etc.
Let me advise you a free source for finding the “stuffing”:
http://forex-strategies-revealed.com
Hope you find all answers there and more!
Anybody interested in staying away from scams and finding systems that work should check out www.forexpeacearmy.com
Well, this is by far most amusing TRUTHFUL site about Forex. I’ve discovered Forex a little over a year ago now, have spent lots of time learning, researching and trading on demo… I also lost some real money being confident that after 3 months of demo I can make money on Forex… what a noob… :-)
I’d like to share what little Forex wisdom I have accumulated. Continue reading..
Great legit site for learning FOREX:
www.babypips.com
Very good layout and step by step learning. Takes you through FOREX trading school with subjects presented by grades from “kindergarden” to “College”.