This is one question that a lot of people are asking. Actually, the answer to this is a resounding Yes!

Let’s try another question – will it make me rich overnight? Probably not. While it can indeed yield very high returns, growing your initial deposit significantly, it can also wipe out your investment.

Am I trying to scare you? Nope! I am just trying to make you understand the realities involved in Forex trading. If you know anything about investment then you would know that high yield investments always come with high risks.

So how can Forex trading make me money?

Now, this is the question that anyone who wants to start trading in the Forex market should be asking. With the right information, training and guidance, you can make money from the Forex market.

Tips to Making Money through Forex Trading

Tip 1 – Learn
If you jump into Forex trading without the right education and training, you will be hurt real bad. Many have jumped in with both feet only to lose their entire account within a short while.
Understand that there is a lot to learn about Forex trading to ensure you become a profitable trader. If you can, get an experienced trader to take you under his/her wings. If you don’t know any, there are tons of materials online that can help you understand Forex trading.

Tip 2 – Get the Right Mind Set
After you have learnt the important fundamentals of Forex trading, do not approach it with a view to become a millionaire overnight from a $10,000 account. This is not impossible but highly improbable. Going at Forex trading with a get-rich-quick mindset has resulted in many lost accounts.
Understand that it is a process, develop your trading strategy and grow with it.

Tip 3 – Choose the Right Broker
This is very important as this will provide you with the platform on which to trade. First, you need a broker that is reputable. You do not want to lose your deposits to fraudsters.
Next, you need to consider what the broker is offering. How much is the initial deposit you have to make? What leverage are they offering? What’s their commission, spread, and deposit and withdrawal processes?
You need to have all these information and be sure you are okay with them before proceeding.

Tip 4 – Try a Demo Account First
I know you are eager to get started but if you are new to Forex trading, be patient. Start with a demo or practice account. Aside from the fact that this account helps you feel and understand the process of live trading without having a funded account, it also allows you understand the broker’s interface.
You wouldn’t want to be clicking the wrong buttons with a funded account.

Tip 5 – Ready to Go Live? Start Small
As you get ready to go live, it is important that you start small. This is not the time to use huge sums. No matter how good you were during your demo days, trading with your money is a totally different ball game. For this reason, start small.

Tip 6 – Use the Protective Stop Loss Feature
While making money is a very important aspect of Forex trading, the flip side which is also very important is preventing loses. Almost every account has a stop loss feature which prevents loss or further loss through preset parameters.

These 6 tips are just to get you started. You will keep learning as you trade and with the right guidance, you will get better. One of the most important tips above is getting the right broker. I personally use https://lionsfx.com/. You can try them out or any other broker you know to be reliable and able to provide you the support and platform you need to succeed.

easier said than done... unfortunately forex trading happens to be the most difficult business or investment in the world, even the so called forex gurus/professionals still lose their money in forex. research has proven that over 95℅ of forex traders worldwide are on the losing side.

Trading becomes easier when you have a working plan attach to it. there are few points i will analyse in addition to this to help you secure a good trading environment. And they are as follows

MAKING A FOREX TRADING PLAN
There is one thing all Professional traders have in common and that is they all have a trading plan. The reason a trading plan is so important is because the plan is what a trader uses to make their trades, manage their trades and take profit.
A trading plan is just like a rule book that includes all the information on how a trader trades. Having a solid trading plan will ensure a trader is consistent in their trading and follow their rules.
Trading Forex is very different from every other job in their world because there are no rules. There is no one telling a trader how much to trade, when to trade or how to trade. Rules are very important to a trader because without them they are just another gambler. Another way to think about a trading plan is a business plan. The plan outlines how your business runs and operates.

If you want to take trading as a big time career or create big fortune for it, i will recommend QTrade AI as a helpful tool


What Should a Trading Plan Contain?
A trading plan needs to cover every scenario you are likely to encounter when trading. Things like what you trade, how you trade and how you manage those trades need to be in there as well as things like how much you will risk per trade and what your goals are.
Trading plans can act as check lists. For example a trading plan will cover exactly what it is you are looking for to make a trade. An example using the Pin Bar may be:
• Trade only daily Pin Bar’s
• Trade Pin Bar’s only with the obvious trend
• Pin Bar must form at logical support or resistance area
• I will not trade into support or resistance area
• I will only trade Pin Bar’s that have noses 3x the size of the body

Make Sure You Include the Small Things
Whilst it is very important to have your trade check list in your trading plan, you have to make sure you don’t forget the other important things. These are the sorts of things such as:
• Money management used
• How much you will risk per trade
• How will you place stops
• How often will you monitor trades
• What you are going to use to target profits
• Trading goals
The basic rule when writing your trading plan is if you are going to come across it in your trading, it should be in your written plan. The more details you cover in your plan, the more consistent your results will be.

You can achieve more trading forex if you have the right tools and mentorship.

Don't believe this point of yours. No research to back up your thoughts. Trading forex is not a ponzi or online investment. its a skill you need to learn. Forex trading is physiological. Look for a mentor for you to have a method.

jinka:
easier said than done... unfortunately forex trading happens to be the most difficult business or investment in the world, even the so called forex gurus/professionals still lose their money in forex. research has proven that over 95℅ of forex traders worldwide are on the losing side.