forex trading is for pros with lots of experience and deep pockets.
98% of all new traders, even in easier lines such as trading stocks, lose some, all, or more than all of their capital within the first two years -- according to one psychologist who has studied traders and trading for over 25 years.
this effect is so reliable that forex is one of the areas in which ';bucket shops'; still exist. A ';bucket shop'; is one that acknowledges your trade and then throws the chit for it into the bucket -- they never actually have the orders filled because they know that the odds of you winning in the long run are 1 in 50. if they're patient and keep good records, they'll almost certainly end up with your money. And, by not having executed the actual trades, they pocketed all the execution fees [which, btw, you paid]. [Sure ... they occasionally lose a bit -- but with 49 guys paying them for each one who takes some home, they can afford it.]
Would anybody pls give me some advice on forex trading? What are the best reliable websites for online forex t?
take a look at http://practicalfxtrading.blogspot.com/ under Forex Education
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you will need to have a look at this site. it will lead you to one of the leading forex site today and, as such, you get to be assured you are dealing with a very legitimate, trusted and reliable forex trading platform. if you are still a newbie, then register and download a Free Forex Ebook for a start. if you have already a little bit of education and would like to enhance whatever knowledge you have then you may want to open an account- mini, gold, platinum or vip in that order- and you will be provided a personal Account Service Manager (ASM) to be your mentor, consultant and trading partner as well with whom you can talk live over the phone, email or chat and discuss anything you want and need to know about forex trading. being an expert forex trader himself, your ASM would be your best resource person to attain your goals of having profitable forex trades in the future. note that the higher account you open would entitle you to better features and privileges as a trader. all the best.
If you're interested in getting into Forex, I recommend you take a look at http://www.forexfromscratch.com which has a really interesting free book about starting off in Forex.
It's a step-by-step beginners guide which is 100% free. Just go to the homepage and download it for free - you'll be able to avoid most of the beginner pitfalls with it.
Hope this helps?
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