Learning
to Trade Forex in Steps
If you are interested in learning to trade forex successfully,
then the most common path for an aspiring trader these days is to search the
Internet for information to apply immediately to their live forex trading
account. The problem is that their search often leads them to destinations
where there are plenty of false promises, bad ideas, negativity and an
obsession with indicators. Many of the EBooks on sale today are filled
with recycled concepts or incomplete strategies which the authors themselves do
not use. Many authors do not earn money from forex trading but they earn
their living by selling these EBooks to the novice forex trader.
This easy access to
forex guru's who fuel the idea that forex trading is the holy grail of easy
money, then financially feed off those same people they have sold this idea to.
At the end of the day what many of these forex guru's sell is a gross
misrepresentation of what it takes to trade forex for a living.
Forex Trading is not
easy. You can become a good forex trader though dedication and by
treating forex trading as you would any other skill. The reality is that
it is hard work and must be treated with the same amount of seriousness as you
would any other career.
The effect of all these gurus is that many forex traders start
off overly optimistic with unrealistic goals. Whilst there is nothing
wrong with a positive mental attitude but this positivity must be built on
strong foundations and realistic expectations.
New forex traders normally start their career
by purchasing some secret set of indicators and they are quickly punished for
their naivety. Many of these forex traders then purchase a different set
of secret indicators until they become disillusioned and then quit trading.
In fact, many forex
traders that are now successful went through this learning process, including
myself. This is only a problem if you refuse to learn from your mistakes.
You need to break from this cycle of reliance on secret indicators and
guru methods to be successful.
You help yourself in the beginning; by
learning to think for yourself and understanding that whilst anyone can trade
forex, to be successful, you must learn to BE a forex trader.
To BE A Forex Trader
To trade forex is easy, all you need is a forex trading account
with money in it and then you enter the foreign exchange market and start
trading.
To be a forex trader is more work. You need to grow from the
starting point of having very little knowledge to the stage where you have a
trading plan, understand the concepts and behaviour of the forex market and be
able to trade with a cool head and understand that wins and losses are all part
of being a Forex Trader.
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