Beginners guide to online Forex trading

The purpose of this post is to introduce new forex traders to the reality of currency trading. I want to get something out of the way right now. Forex will not make you rich over night! So you can stop wasting your hard earned money on ebooks and software that promise to make you a forex millionaire. The only people getting rich off of these forex products are the one's who are selling them.Now, forex trading should be looked at as a business, and like any other business, it takes time to learn. Also remember that you never stop learning. Market conditions change, especially in forex, and as they do so will you. Forex trading can be very profitable if you put the time in to learn it correctly, and find good resources to help you along the way. All of the information that you need to trade forex profitably is free, and by not looking for it and actually trying to learn it, you are adding an unbelievable amount of time to your learning curve.The one question that always comes up when talking about forex is, "How much money can I make?" I don't know what your forex account size looks like but you should be able to easily clear 5 to 10% per month if you know what you are doing. You heard right, forex returns can reach 5 to 10%, and there are some traders who make more than this with forex. This is why so many people are drawn to forex trading. This is also why so many fail. You have probably heard that 95% of forex traders lose there money, and the reason is they come in with dollar signs in their eyes and are under the impression that forex is easy. It's NOT! Don't get me wrong, forex can be "easy" once you know what you're doing. Until then spend your time learning forex and saving your money. Every trade that you don't take until you know what you're doing should be considered money made. Trust me, if you had traded it, you would be broke! I will continue with more forex insight in my next post but until then, please be smart with your money.