Sabtu, 26 Maret 2011
Learning to Trade Forex in Seven Steps
12.09 | 
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| learn to trade forex |
This easy access to Exchange guru is fueling the idea that forex trading is the holy grail of easy money, while financially to feed the same people they have sold this idea. At the end of the day what many of them sell forex gurus, is a gross distortion of what it takes to trade forex for a living.
Forex Trading is not easy. You can even become a forex trader good commitment and processing exchange transactions, like any other skill. The reality is that it's hard work and should be treated with the same amount of gravity than any other career.
The effect of all these gurus is that many forex traders begin to optimism realistic with goals. Although there is nothing wrong with a positive attitude to life, but that positivity has to be built on solid and realistic expectations.
New traders typically begin their careers with the purchase of a secret group of indicators and they are quickly punished for their naivete. Many of these Forex traders buy another set of indicators, the secret until they are disappointed and end the trade.
In fact, traders were now successfully incorporated by the learning process myself. It is only a problem if you refuse to learn from your mistakes. You need to be successful in this cycle of dependence on the methods of secrecy and break the guru indicators.
They help in the beginning, learning to think for themselves and understand that everyone can be successful with forex trading, you must learn to be a trader.
To be a forex trader
To trade Forex is simple, just to have a forex trading account with money, then type the start and Foreign Exchange.
A forex trader more work. You must leave the starting point of very little knowledge about the scene, where they grow to a trading plan to understand the concepts and behavior of the Forex market and be able, with a cool head and Trade understand that Gains and losses are all part of a forex trader.
Learn to trade currencies in thinking like a trader in seven steps.
1. Do you understand your place in the foreign exchange market
This is very important, you must understand that you are very small fish in a big ocean.
In the currency market the majority of the liquidity is coming from big banks and institutional traders experienced. These are the big fish. Large fish are glad you enjoy them as a snack.
They are only're wrong if you think it will be easy to withdraw money from the huge foreign exchange dealers.
You must learn to swim alongside these big fish to catch and do the same thing it sinks. Swimming against them is simply marked as prey and sooner or later you'll be eaten.
2. Learn to read Forex charts and understand the foreign exchange market.
Many novice traders believe that these large foreign exchange dealers have access to a secret forex trading strategy or use a secret set of indicators, but the truth is not the case.
These are major players in Forex using simple but proven techniques of technical analysis - essentially horizontal support / resistance, identifying areas of trade, Fibonacci These are then coupled with fundamental questions.
Start with the assumption that the other major participants are very experienced in the market and earn money because of the experience and knowledge of basic skills and not because they are in possession of a holy grail of indicators secret.
3. Money Management
It is essential that as a novice forex trader is the emphasis on not making a good forex trading, but how you manage what you know.
That fall the most common of all new arrivals. It is common to see take place, a trader risk point of the majority of their accounts at one or two positions.
This type of trade is not sustainable and does not act this way professional traders.Everyone at some point in their career in a series of bad trades. A typical number of 10 could be losers in a row. The question is whether you have a management plan for the money instead that you can survive that?
4. Concentrate on the market
Many novice forex traders to open their software forex charts and start their final warm indicator or tool and go do business in accordance with the recommendations of spatial tools. This type of Forex trading is unlikely that many long-term success.
If these indicators to generate the profits needed then these traders can not quickly switch to a different set of indicators.
You should focus on the Forex market and understand what the indicators tell you, so that foreign exchange transactions that the best chance of picking winners.
Successful Forex traders use indicators and tools such as Fibonacci, pivot points, the channels of price, MACD, RSI, etc. These tools themselves do not become a good trader. There are many successful traders and merchants who succumbs to use exactly the same indicators.
It is essential that operators understand how to successfully market behaves around indicators and understands the meaning of the signals effectively.
The best way to do this is to stop the change between tools and select those who understand compliment your trading plan how they work, and then spend much time on the market to experience them.
5. Plan your trade and your plan.
It is a saying that seems lost on newcomers. It should target each merchant pips on each trade according to their forex trading plan. Traders, each trading as a business decision by calculating risks and implementing their treatment of entry and exit points, open to those who do not have large losses if the trade goes wrong.
Many newcomers do not seem to have the discipline to follow a plan for each trade.So what happened in the rule are a beginner traders see a potential set-up, they decide on some arbitrary sum to buy or sell, with a quick approximation, and then analyze the trade safely and an exit strategy.
Of course, this type of trade can in the short term as a viable alternative, more luck on skills. But after all, luck runs out and the dealers caught off guard and a common result is a change annihilated.
Newcomers tend first question to ask how I want it to be Forex trading? The retailer first question likely to experience, ask yourself what is my risk of loss?
6. Your mind is your greatest strength and weakest link.
Entire books have been devoted to the subject matter of psychology and its role in trade. This does not mean they will all help you, but if it is a sign that the issue can not be ignored to take.
You must first understand what the role of psychology in the market. They must learn to understand your personality traits and how they affect your trading style.
One trader I know is a bad loser, and has a bad job, he used to back straight and try to win these seeds back with even worse results. But he sees this as a weakness and he has a bad job, he took a 20 minute break before he goes back to trading, so that his feelings do not affect business decisions.
Second, you have your goal to never stop learning. You do not have a certain level and then can be complacent. Every day is a learning experience one way or another, and you must be willing to learn and invest time in improving your skills and experience. The day you stop learning is the day you must stop trading.
7. Understanding the Forex market is always right and expect the unexpected.
The Forex market is an interesting place, but there is one thing, each operator has to learn. Always expect the unexpected and do not have ended in this past successes.No matter what your cards or indicators to tell you, sometimes the foreign exchange market is doing exactly the opposite.
Whatever happens in the marketplace, you must get an objective view of your strategy and the foreign exchange market and to ensure that bubbles and crashes are not derail the long term.
Because of the procedure and learn to be a trader and not just trade the forex market you give yourself on the path to ultimate success of a profitable forex trader. This is something that 90% of all newcomers to achieve.
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Learning to Trade Forex
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1 komentar:
I've tried so many EA's and trading courses and most don't work automatically.
I am now using a Forex trade alert service called Upshots that guarantee's
at least 400 pips per month.
their website is http://www.fxsignalsystem.com/
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