How to become a trader on Forex market?
Of course, a smart trader will always diversify their risks, regularly bringing profit and putting it in various financial instruments, and not only wasting their own needs. The latter are profitability, as a rule, not so much as brings the Forex market, but let's not be afraid of force majeure, providing the trader is constantly growing passive income.But now it's not so much about financial planning and how to become a trader. Let's consider the first steps to successful trading.
Simple but effective!
1. Take a firm decision that sooner or later you will consistently make money on the Forex exchange. Any doubts or worries. If there are people who are successful traders, and so can you.
2. Make a study plan. Read at least 1 book on trading, always with a good summary of the technical analysis. Open demo account and disassemble all the shapes and patterns on real graphs. EUR/USD or any other - choose the one you like.
3. Learn the basics of trading, start to work on creating your own trading system (TS). You can also use ready (someone else's), but you have to understand how everything works. Maybe some settings stranger TC will have to adjust itself.”
Reflecting on TC, look for patterns that work. Just put the indicator and to follow his signals ineffective.
4. Creating TC, test it on the demo account and the history of at least 2 or 3 years. If the strategy has shown some profit and you are satisfied, think about creating a trading Advisor of your strategy. To order the robot can have programmers with programming language MQL4. They are often practicing traders, therefore, to find a common language with a colleague will be easy.
5. Broaden your horizons. The market changes over time. If you are not ready, you will lose money.
2. Make a study plan. Read at least 1 book on trading, always with a good summary of the technical analysis. Open demo account and disassemble all the shapes and patterns on real graphs. EUR/USD or any other - choose the one you like.
3. Learn the basics of trading, start to work on creating your own trading system (TS). You can also use ready (someone else's), but you have to understand how everything works. Maybe some settings stranger TC will have to adjust itself.”
Reflecting on TC, look for patterns that work. Just put the indicator and to follow his signals ineffective.
4. Creating TC, test it on the demo account and the history of at least 2 or 3 years. If the strategy has shown some profit and you are satisfied, think about creating a trading Advisor of your strategy. To order the robot can have programmers with programming language MQL4. They are often practicing traders, therefore, to find a common language with a colleague will be easy.
5. Broaden your horizons. The market changes over time. If you are not ready, you will lose money.
How to choose the tactics and strategy for trade?
If you are a novice trader, look at the long-term (positional and intraday trading. If you have experience - try scalping, test expert advisors. Your trading style should match the characteristics of your personality. No wonder they say: “a Trader, know thyself!”
Important tips
1. Do not give in to doubt and pessimism. If something goes wrong, the strategy does not work, but the mind refuses to work - relax. The market will be tomorrow, and the day after tomorrow. After a rest, with fresh thoughts you most likely will solve the problem.
2. Listen to those people who are going the same way (successful traders). Exclude whiners, pessimists, those who talks a lot but does nothing, and so it is Important that you set a goal and go for it.
3. Remember other important aspects of your life. Health, family, personal qualities, and growth are all important. Hold “state standards“ in all areas of their lives, it is easier to develop one thing (e.g., trading). If you have problems at home, for example, the constant noise in the apartment or excitement about the loan, to ensure clarity of thought and to make rational decisions on the exchange you would be problematic.
4. Do not count on the support of family and friends. Despite the opinion that these people should maintain your good initiatives, i.e. trading, you will most likely hear the most contradictory opinions. To the extent that you Grozovsky and a sick man, and no one in Forex is not working. Do not give in to their negative impact. First, most often, our loved ones don't know what you know about Soros, wall street, successful traders, etc. secondly, man is so constituted that he does not like to leave their “comfort zone“. It is unpleasant when someone “POPs out”, if another successful etc.
Here will begin to earn your first $ 300-500 a month from trading, and you have to be somehow baselice the opinions of others. We are so arranged that subconsciously seek support and praise from others, but get them only occasionally.
When you earn 500 or $ 1000, your “well-wishers” will have no choice but to remain silent in a rag.
“How to become a FOREX trader?” question with a simple answer. “Make a plan and follow it!” But will you have the strength and patience to get to the top? It depends on you and remember that the profitability of trade is highly dependent on your chosen broker!
2. Listen to those people who are going the same way (successful traders). Exclude whiners, pessimists, those who talks a lot but does nothing, and so it is Important that you set a goal and go for it.
3. Remember other important aspects of your life. Health, family, personal qualities, and growth are all important. Hold “state standards“ in all areas of their lives, it is easier to develop one thing (e.g., trading). If you have problems at home, for example, the constant noise in the apartment or excitement about the loan, to ensure clarity of thought and to make rational decisions on the exchange you would be problematic.
4. Do not count on the support of family and friends. Despite the opinion that these people should maintain your good initiatives, i.e. trading, you will most likely hear the most contradictory opinions. To the extent that you Grozovsky and a sick man, and no one in Forex is not working. Do not give in to their negative impact. First, most often, our loved ones don't know what you know about Soros, wall street, successful traders, etc. secondly, man is so constituted that he does not like to leave their “comfort zone“. It is unpleasant when someone “POPs out”, if another successful etc.
Here will begin to earn your first $ 300-500 a month from trading, and you have to be somehow baselice the opinions of others. We are so arranged that subconsciously seek support and praise from others, but get them only occasionally.
When you earn 500 or $ 1000, your “well-wishers” will have no choice but to remain silent in a rag.
“How to become a FOREX trader?” question with a simple answer. “Make a plan and follow it!” But will you have the strength and patience to get to the top? It depends on you and remember that the profitability of trade is highly dependent on your chosen broker!
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