My name is Ian and I live in Toronto, Canada.
I'm retired and suddenly I need to augment my income from pension, so I have landed here. I have been mildly trading stocks since May, been trying to understand Options for a few weeks and that's quit a learning curve. I'm told Forex is the worlds largest 24hr market, yet I know little of it. If I am correct that I can follow the brilliant traders here at some cost to be determined, then maybe this is FINALLY the answer to a nice retirement.
I hope this is the forum to have this explained from how to join a mentor, to how to copy the trades. I'm anxious to learn.
Forex is traded 5 days a week, 24 hours a day.
If you are new to Forex, I would suggest that you open a DEMO account with a highly regulated brokerage with strong guarantees of asset protections. Once you have a DEMO account setup for Forex, I would suggest that it is virtually funded at the same level that you would be trading if it were a real account.
It is my opinion that you should stay on DEMO until you can generate a reasonable profit each month for at least 3 to 6 months (OR LONGER).
The specific strategy honestly doesn't matter as long as it generates a consistent and reasonable profit level.
The difference between a profitable account and a blown account is RISK MANAGEMENT.
Risk management should be the #1 priority above everything else.
If it looks too good to be true, it's probably a scam! Let the buyer beware.