Community Forex Questions
Forex education road map?
A common misconception among novice traders is that there are two ways to trade (technical or fundamental), and all they have to do is pick one to learn. There are as many ways to trade as there are traders in the market. This is the cause of all the confusion.
It is not uncommon to read two posts by highly successful technical traders, and find that their suggestions contradict each other. If you view it from a right or wrong perspective, you will be lost and confused. You can extract the information that makes sense "for you" if you assume they are both correct "within their own trading system".
The trader combines his life experiences, his personality, and the information he gains as he learns to trade into a system that works for him.
Try to learn as much as you can about the subject, while experimenting with your own ideas. Once you have mastered that, you can move on to a small real money account. It will take you a few years to exorcise your personal demons after you realize how messed up you are psychological. You will succeed if you take yourself seriously and have the discipline to change yourself.
Any aspiring trader would do well to take the changing yourself advice seriously. Ironically, I have found that the people who are most drawn to this career are the least likely to succeed in it. Freedom attracts those with a little discipline, and money lures those most in need. You're either going to have to completely change who you are as a person, or you're going to fail at this business if you're here under either pretext.
Take care of yourself... take care of your life... You can make all your dreams come true with little more than some time and a few dollars.
It is not uncommon to read two posts by highly successful technical traders, and find that their suggestions contradict each other. If you view it from a right or wrong perspective, you will be lost and confused. You can extract the information that makes sense "for you" if you assume they are both correct "within their own trading system".
The trader combines his life experiences, his personality, and the information he gains as he learns to trade into a system that works for him.
Try to learn as much as you can about the subject, while experimenting with your own ideas. Once you have mastered that, you can move on to a small real money account. It will take you a few years to exorcise your personal demons after you realize how messed up you are psychological. You will succeed if you take yourself seriously and have the discipline to change yourself.
Any aspiring trader would do well to take the changing yourself advice seriously. Ironically, I have found that the people who are most drawn to this career are the least likely to succeed in it. Freedom attracts those with a little discipline, and money lures those most in need. You're either going to have to completely change who you are as a person, or you're going to fail at this business if you're here under either pretext.
Take care of yourself... take care of your life... You can make all your dreams come true with little more than some time and a few dollars.
The foreign exchange market, or forex, is a global market that allows people from different countries to trade currencies. In addition to trading on the spot currency rate for their own country's currency, traders can also invest in futures and options on currencies. The sheer volume of transactions and the size of the available profit margin make forex trading an attractive opportunity for both amateur and professional traders.
Jan 19, 2022 15:08