If you want to learn currency trading you can anyone can but the fact is they fail due to believing myths and getting the wrong forex education and underestimating the mindset you need to win. Here we will cover both and if you follow the steps they will lead you to currency trading success...
The first point is you are going to have to make yourself money no one else can do it for you so ignore:
- Forex robots with simulated track records - they have never been traded and will destroy your equity
- Day trading and scalping and other forex signals services again there simulated
- Any guru or mentor who guarantees you success with no effort
- Anyone who tells you can predict forex prices in advance
You get nothing in life without effort and forex trading is the same, only a small minority win and they work for it.
Sure the rewards are immense but you have to work smart now, you need the right education so keep these points in mind.
- Simple systems work best as they are more robust and easy to understand
- Concentrate on constructing a simple system you understand
- Use breakout methodology as a cornerstone of your forex trading strategy
- Trade longer term and ignore the market noise
- Work smart not hard you don't get rewarded for hard work just being right
- Don't try and be to clever it wont help you - forex trading is simple
- Spend time on your money management - this is the cornerstone of a successful trading system
Now you're getting there now the hard part and it's what separates out the pro from the novice.
The pro knows that he has a trading system and he must execute it with rigorous discipline to be successful - if you don't have the discipline to apply your forex trading system, you may as well not have one!
Discipline is hard but if you have don't the basics you can execute your system with discipline and stick with it through losing periods to ultimate trading success.
Discipline is based on knowledge and confidence in what you are doing that's why forex trading is a personal experience and success cannot be given by someone else - your on your own, but that's a good place to be!
Forget all the rubbish you read about trading with 90% accuracy and earning 50 pips a day its not true - even the best traders face many weeks in losing periods and you will to but if you are keeping your losses small and then running your profits, when you hit them you can make huge profits.
If you want to learn currency trading keep the above points firmly in mind when putting your forex strategy together and executing it.
If you do you will be rewarded for your efforts you will be able to enjoy currency trading success and get on the road to financial freedom.
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