Cautions

Some Advice

With the proliferation of modern computers and high speed Internet, there has been an explosion of online trading. Many people from all corners of the world are beginning to conduct their own online trading as supplemental income. Now, anyone can participate in something that was once only accessible thru a brokerage. Of course there is a negative impact of this. The average user does not have the education, training and years of experience that a professional broker does. This results in a large number of people being enticed into trying to “get rich quick” and then losing a fortune . Don’t be one of those people. Be Smart, Be Safe.┬áResearch and Learn. The candlesticks we talk about on our site are only a minute portion of the things that you need to learn to even begin to understand price charting. In addition to that, thoroughly research the platform vendor you want to use. Learn the background of the company. Make certain they are reputable and will be around for awhile. Most sites offer practice accounts, many even require you to use one a certain amount of time before they will give you a live account. This is a very smart idea. It gives you a chance to work with live data before you risk losing real money. After one or two days on your first practice account you will undoubtedly lose “money”. This can be a real eye opener to how volatile online trading can be. Forex trading in particular has become very popular in the last few years. There is indeed the opportunity to make money, but it is a two edged sword and both sides are equally sharp. I remember my first week with a practice account. I had been steadily turning a profit and was feeling confident. I upped the anty and bang, within 10 minutes I watched a currency pair drop resulting in a loss of over $1200. That was a serious warning. I was grateful that it was a practice account!
I would advise you not to forget the professionals. Even though you have the ability to conduct your own trading, they have the experience and knowledge to help you be successful. I would suggest you to merge the two. Find a professional that you can hire for advice and council and have fun trying to make money on your own.
Best of Luck!