Find out as much as you can about forex before investing in it. Research, demo accounts, community participation and a slow, patient start can all help you get comfortable with forex without taking big risks. Read on for some tips to keep in mind as you practice.

It is almost inevitable that you will make unprofitable trades when you start trading on forex. Do not forget the concept of sunk costs when one of your trades turns sour. Money that you lose on a bad trade is lost forever, and funneling more money into such a trade will only increase your losses.

When you are sitting down to analyze the market, set up a legitimate time frame to analyze your decision. Never make a trade when you are in a rush, just because you want to. Deep analysis should go into every trade if you want to get the maximum …