The Forex Noob

My purpose for The Forex Noob is to give my experience as a beginner to forex trading. I tend to veer off track a bit with the  FAPTurbo and Forex MegaDroid updates but that’s a part of the experience. I believe the robots on the market now are attractive to beginners, at least the promises made, and are marketed toward them. I don’t mind giving my updates, I’ve learned much from may who have commented and emailed. Thank you.

I want to continue to share my experience, good and bad, and hopefully help others.

I have suspended my live trading because I do not have the time to do it properly and have lost much of my initial deposit. Honesty time…I did a stupid thing and when moving offices left three trades open while my computer was dismantled. In my arrogance I believed that I know what I was doing and did not protect my trades well enough. All three trades lost big time!

Lesson #1 – Protect yourself  with stops and never leave yourself vulnerable to huge losses.

Lesson #2 – Unless you are trading live with the same or greater funded account be extra careful. My losses would have been huge profits had my live account had the same deposit amount as my demo accounts. Don’t over trade your account.

Lesson #3 – Trading well means giving it a lot of time, especially in the beginning. EA marketers want you to believe you can spend 15 minutes a week trading and make a fortune. The majority of us need much more time than that.

Lesson #4 – It’s going to take a long time to get good and make great gains. Baby steps is the key. Don’t get greedy.

My demo’s are still going with both FAPTurbo and Forex MegaDroid. I’ll get back to live trading in June but want to give it the attention needed to be successful. If you are thinking about forex trading or just started don’t get discouraged, read, learn and understand that it’s going to take time.

Your comments and suggestions are always welcome.

Thanks for your time,
The Forex Noob