A Newbie in Online Forex Trading gets the impression that he can make millions of dollars in few days even before starting to trade Forex. He thinks Online Forex trading is a get-rich-quick scheme. He has read in many online journals about Forex, that it is a very lucrative business. Indeed there are many Forex scammers online promoting their evil campaign that they can make fantastic returns in a month. He probably might have seen or heard this same rhetoric on various news media. His heads swells up; his hopes raised and he desires to learn and trade Forex.
I was once a newbie in Online Forex Trading and first heard of this business on National Television in 2008. A certain Forex Instructor advertised that he would be holding a 'one-day' Forex Seminar in Abuja, Nigeria. I got so excited because he painted a picture of 'paradise' once you start trading currencies. About this period in Nigeria, Online Forex trading was just getting popular, there was so much hype about Forex Trading and was spreading like wide fire.
On the set date, i got registered and attended the 'One-Day Online Forex Trading Seminar'. The point i want to make here is that this Forex Seminar is just for 'one day'. To tell you the truth, one day is not enough to learn Forex Trading. I was made to understand later that the instructor criss-crossed the nooks and crannies of the country training people on Online Forex Trading.
I am going to expose what many newbies experience, which is common to all, in a series of articles. The aim is to inform newbies of dangerous pitfalls in Online Forex Trading and ways to avoid them.
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