Taking the first baby steps ...

Though Forex has been around for 30 odd years, established after the abolition of the Gold Standard, it was not available to retail traders till off late. It was the battleground for corporate giants, banks, governments and large managed funds. Recently, those boundaries have been made off completely. So now, you and I can take part in the action and see where it can take us.

There is a lot of pessimism involved around anything dealing with forex. A lot of people have lost money and will keep losing. Because Forex Trading is a zero sum game, someone loses if someone has to win. This makes it edgier. Hence, it is always said that 98% of all forex traders are bound to fail!

To start with, I had to shave off this pessimism. Its not necessary that whatever you heard is true. The reason is a lot of people do it in their own ways and the results they get are for their own. It won't apply to you particularly. There's a huge amount of discipline and patience involved - which any successful trader would agree with - and these two qualities are not everybody's forte. So you need to determine if you have enough of these. And still greater is the control you need to put a leash on these two aspects.