Trading the forex can be very rewarding but for a new trader it isn't always easy. There is one major mistake that most traders face and it probably causes the biggest challenge that robs most forex traders from ever experiencing success. What makes this challenge so difficult is that most traders either don't even realize what the challenge is.
If you are a new trader you are probably looking all over the internet for information and advice. You are probably going to find many conflicting sources of information. It's not uncommon for a new trader to experience too much information and become paralyzed from being too focused on trying to sort through all the information. A trader will become so confused about which strategy to use that they never get to focus enough on actually trading a strategy.
That's the mistake that most traders make. They spend too much of their energy focusing on what strategy will make them money. For a new trader that's like searching for some holy grail, you are never going to find it. As a new trader it doesn't matter so much what your strategy is. What is important now is to get experience trading and focus on developing consistency and discipline in your trading. Without developing yourself into a good trader no strategy is going to do you any good.
As a beginner just pick any system that you understand and are comfortable with. This is the time you should be trading on a demo account and trading the strategy that you choose and focus on being consistent and disciplined. Focus on keeping your emotions out of your trading decisions. Don't be too concerned about whether your demo is making money or not. Until you develop the habits of being a disciplined consistent trader you won't be making consistent money anyway.
You may have to practice for a while before you are ready to actually make money consistently. For some people it takes several months of demo trading before they are start producing consistent gains. And that is if they don't get distracted trying to chase the perfect strategy. That's what most traders do and they usually never get to that point of success.
If you are expecting to make money right away as a beginning forex trader it's probably not going to happen. If you need the money right away then let an automated system do the trading for you. You can buy programs called robots that will trade a time tested system for you. These programs already have the discipline and lack of emotions that most human traders don't have. You can learn a lot by watching them trade and they can make money for you while you are learning. I have posted a link to the one I use below. it's working so well I don't even trade manually any more.
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