How I Got Started in Forex Trading

By: Kelvin Chan

I remember it wasn't too long ago in the month of January 2005 that I went for a course to pick up options trading. Following the course, I paper or demo traded options for quite a few months. Was profitable overall but somehow or rather, I was led into the world of forex trading within a few months of my options trading course.

Within a very short time, I fell in love with the forex market because it made a lot more sense than options trading (at least to me). On top of that, the market is a whole lot more liquid and it's a lot more macro than options. That was enough for me to drop whatever experience I had with options trading and for me to get started with forex trading.

Before long, I opened an account with Oanda and I remember funding my first deposit with a measly $50. Amazing huh? It was on the same day that I traded my first live forex trade. If you need to know, my first 3 trades were on the June 2005 trading on the non-farm payroll event. Those 3 trades lasted all of 30 minutes and I made a grand total of 32 pips. Don't ask me how much they amounted to in real dollars. It's a joke to say the least.

Following that positive first trading session, I was even more pumped up and started studying charts like how Albert Einstein would be doing his experiments and tests. I never looked back from then on right till today. I've made a lot of contacts and friends in this field and till today, I'm still learning and am still very much on this journey and path of discovery.

If you've been wanting to trade forex, get started with a demo account just to get acquainted but don't take too long to get started with the real thing because it's with live trading that you learn the most. Till we meet again, take care and blessings!

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