What can I expect?

Beginner Questions
1

Hey guys,

I’m a relative newbie to Forex trading. I was wondering what I can reasonably expect when starting out in all this?

My plan is to open a £200 (GDP) mini-account and get started small whilst I learn the ropes. I was thinking of using one of the EAs, as I see products like MegaDroid have sterling reviews here. So the plan would be to set up an account and link it up to an EA whilst I continue to study the teachings here and elsewhere.

So what can I expect as a newbie? What sort of profit am I looking at making per month in these early stages? I understand that oftentimes you need to lose money in order to make money whilst in the learning stages of a system like this, but if I approach Forex with a small initial account and use conservative, safe settings, how well can I expect this blueprint to work? Is this even an efficient model?

Any help would be much appreciated,

PS, any links to great threads would be useful, too!

2

Hi
I apprieciate that you are eager to get started, but please do not open a live account until you have demo a system. Many traders are anti EA’s, it is much better to learn how to trade so school of pipsology is a good starting place. Forget about profits, Trading can be very profitable but first you need to learn a strategy and find out what kind of trader you are ie. day trader, swing trader. position trader. there are many good systems on this site that are simple to learn with people that are willing to help
best regards
Dave