Forex trading is a fast-moving, exciting way to make a lot of money, but it's also the easiest way I know to lose your shirt!
By following these few simple tips you can be sure of losing lots of money Forex trading.
Even though there's lots of free Forex trading information available on the web be sure that you completely ignore it you don't need any help.
It is possible to sign up for a free practice account with most Forex brokerages but rather than making virtual currency trades and learning how to do things without risking real money, if you want to lose your shirt it's best to start right at the beginning using your own funds, because that way you will know what it feels like to really lose money.
There's an old saying that ignorance is bliss and this is particularly true when it comes to Forex trading, you must be sure not to subscribe to any news feeds or other services that will keep you up-to-date on factors affecting the currencies your trading in if you want to be sure of losing money.
You should also make sure you completely ignore the Forex trader’s forums that are available on the web. The fact that it is possible to pick up helpful tips and information on trends affecting the currency markets is of no interest to you, you know what you want to trade and you're not going to be influenced by the opinions of others.
As in other activities involving money there are lots of frauds that you could be caught by, to make sure that you lose money in this way you must avoid checking the Federal Trade commission's website, they list the current known frauds that are operating in a Forex arena but this is of no interest to you.
Some people suggest that when you first start trading it's best to only use small amounts of money that you do not require for any other purpose, now this of course is absolutely stupid, how can you make big money if you don't trade with large amounts? It's best to get involved right from day one trading large amounts of money.
The best way to select a Forex broker is to look for the flashiest website and the glossiest brochure, make sure you avoid any advice from fellow traders.
Stop losses are not for real traders, if you really want to lose money avoid stock losses at all cost, also it is best not to have a strategy or trading plan, just trade as you fancy takes you.
Obviously if you'd rather make some profit from your Forex trading one of the best things you could do would be to do exactly the opposite to my trading system.
If you want to learn how to make Forex Trading and using Forex Trading Software visit http://www.forexextra.com/
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