HALAMAN SELANJUTNYA:
Forex Trading From Home - 3 Steps to Forex Trading SuccessForex trading from home is now to all with low account minimums and internet access. Anyone can start trading but you must be aware that 95% of traders lose, so you need to learn Forex the right way and that's what this article is all about...
The fact that 95% of traders lose, obviously means that Forex trading isn't easy and you wouldn't expect it to be with the huge rewards you can make. The good news is, anyone can learn to trade Forex from home and make a great second income; let's look at how to set up your business.
All you need to do is follow these simple steps
1. Success and Responsibility
If you want to get rich in Forex, you need to learn skills and get a good Forex education forget the sure fire robots and Forex advisors and other get rich quick systems, they don't work and you will lose.
If you want to win you need to learn skills but if you do make the effort and study the basics, you will be well rewarded. To learn what you need to know to succeed at Forex trading should only take a few weeks.
2. Your Trading Strategy
So what type of trading strategy should you use?
A good way to start is to focus on long term trends and to use breakouts to enter your trading signals. Breakouts are breaks of support or resistance on a chart to new highs or lows and if you look at any chart you will see that all big trends start from these breaks.
So learn about Forex trend following and breakouts and use a couple of momentum indicators to help you time your trades and that is all you need. You will have a simple trading strategy you can win with and always remember, a simple system works better than a complex one because, if make a system to complicated the market will break it.
We have now covered the easy part of trading and that's learning a system, the hard part is learning how to adopt the right mindset, to apply your system with discipline in real time trading.
3. Disciplined Application the key to Success
You must if you have a system, apply the rules exactly or you don't have a system, now while this sounds obvious most traders don't do this - why?
Because they fail to trade with discipline through losing periods and don't believe you won't have a long period of drawdown every trader does and you have to keep losses small and stay on course during these periods. Most traders though hate losing, it hurts their egos. They let their emotions get involved deviate from their system and run losses etc in the hope they turn around and wipe their accounts out. If you want to win at Forex trading, you need to be disciplined and this is based on confidence and knowing what you're doing.