It’s possible to make a fortune in the foreign exchange and forex markets, but it is imperative that you learn all you can first so that you don’t lose your money. Your demo account is an excellent opportunity to do this. Read on for some tips to keep in mind as you practice.

Never base trading decisions on emotion; always use logic. If you routinely get angry or panic, or let greed dictate your trades, you stand to lose lots of money. Emotions are a part of any trade, but do not allow them to be your main motivator.

If you are not experienced with forex, make sure you pick a popular niche. There is usually not much public interest in a thin market.

Research your broker before starting a managed account. Brokers who have been in the business for longer than five years and performs in parallel with the