You can be very successful at making money in forex, but it is essential that you do your homework before beginning. Starting with a demo account is a great way to get acquainted with real trading without any of the risk. Follow these tips to gain the most knowledge from your demo account.

Learn about your chose currency pair. If you spend all of your time studying every possible pairing, you will never start trading. Pick a currency pair you want to trade. Follow and news reports and take a look at forecasting for you currency pair.

Trading decisions should never be emotional decisions. Being consumed by greed will get you nowhere fast, just as having your head clouded by euphoria or panic will prove to be unhealthy motivators in the decision making process. If your emotions guide your trading, you will end up taking too much risk and will …