Thursday, February 11, 2010

Advice for novice traders

forex-check-list.jpgAnyone can learn to trade but the really hard part is the mindset to succeed. Do not believe anyone who tells you that it is and sells systems saying that you will make money every month or they can predict prices they can’t.

There is a huge market for these systems and there mostly junk and come with a worthless simulated track record. As we said success comes from understanding what you are doing and self education is the key that will make you successful.

Use Forex Technical Analysis It’s simply the most time efficient and best way to trade. You can learn it in around two weeks and then spend just 30 minutes a day executing your trading signals and that’s it. All you need to do is learn to act on the reality of price change and not predict.

Forex trading is not easy and wouldn’t expect it to be with the rewards to be had but the good news is it’s not that hard either. Most traders think the harder they work the moremoney they will make. In many areas of life this is true but not in forex markets! You get paid for being right with your trading signal and that’s it.

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