Educate Yourself Before Trading Forex
If you want to do anything new in life, you have to first learn it. The same principle applies to forex trading. Forex trading without proper learning and no education is a sure recipe for disaster. If you want to trade forex than you need to first understand how the forex markets work.
Just like by buying tennis racquet or a golf set wont make you a good tennis or a gold player. When as a boy, I started playing tennis; I was a very poor player. Good tennis player would not play with me. But I had an ambition to become a good tennis player.
The whole day I would wait when evening would come and I could play tennis. I would do wall practice. So, I would practice and practice. Sometimes, I would play with my coach.
Everyday before entering the tennis court, I would imagine myself playing very well. Every defeat would strengthen my resolve to win. In six months, I had started defeating the good players who in the beginning did not consider me good.
Becoming a successful forex trader should be your dream. Learn everything you can about forex. Practice and practice! Dont rush.
Your first step should be to digest a good forex trading course. Go through the course again and again. Digest even small points given in the course. Pause and ponder on each line in the course.
The most important steps for you to grasp is to how to identify the behavior of the market at a certain point in time. You can only do this by learning Technical Analysis.
You should be the master of using indicators in your trading. Learn what type of indicators is lagging and what type of indicators is leading.
Grasp every small detail. Go through example of successful trades given in the course. Open the charts learn how to apply the SMAs, EMAs, MACD, Bollinger Bands, Pivot Points etc.
Understanding the principles of money management is must for you. Do not put more than 1% of your account on a single trade. Many traders overlook money management but it is the thing that will determine your long term success. - 23212
Just like by buying tennis racquet or a golf set wont make you a good tennis or a gold player. When as a boy, I started playing tennis; I was a very poor player. Good tennis player would not play with me. But I had an ambition to become a good tennis player.
The whole day I would wait when evening would come and I could play tennis. I would do wall practice. So, I would practice and practice. Sometimes, I would play with my coach.
Everyday before entering the tennis court, I would imagine myself playing very well. Every defeat would strengthen my resolve to win. In six months, I had started defeating the good players who in the beginning did not consider me good.
Becoming a successful forex trader should be your dream. Learn everything you can about forex. Practice and practice! Dont rush.
Your first step should be to digest a good forex trading course. Go through the course again and again. Digest even small points given in the course. Pause and ponder on each line in the course.
The most important steps for you to grasp is to how to identify the behavior of the market at a certain point in time. You can only do this by learning Technical Analysis.
You should be the master of using indicators in your trading. Learn what type of indicators is lagging and what type of indicators is leading.
Grasp every small detail. Go through example of successful trades given in the course. Open the charts learn how to apply the SMAs, EMAs, MACD, Bollinger Bands, Pivot Points etc.
Understanding the principles of money management is must for you. Do not put more than 1% of your account on a single trade. Many traders overlook money management but it is the thing that will determine your long term success. - 23212
About the Author:
Mr. Ahmad Hassam has done Masters from Harvard University. He is interested in online trading; stock and forex trading. Know the Best Forex Trading Course. Discover a revolutionary new Forex Robot.
posted by X - Men @ 2:20 AM
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