So I got an idea to try and learn how to trade in Forex (trading currencies). I am just now beginning to learn new things and I will try and keep a running journal of all my new experiences in the world of Forex. Apparently people are able to make lots of money without investing too much of their own, so, of course, I felt I needed to try break into this market.
To start, I opened a demo $50,000 account over at FXCM.com. Once you sign up, then you can download their trading platform and trade virtually for 30 days.
Some of my first thoughts include:
- Just opening the program it looked pretty cool even though I didn’t know what lot of the things did
- I also saw first hand how quickly a gain can go from a loss and so on.
- In the first hour my return (in dollars) went from +200 to +10 to -200 and currently it sits at around +90, although I was a little unsure of how much money I actually used to get that.
What are your thoughts on Forex? Anybody already trading in it?
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