The first time I read about Forex trading I was very surprised.I thought this market was reserved only to professional traders but I discovered that there were many people that were not professional traders.
Ordinary people without any experience could become a trader,even a successful one.The road is extremely hard and many people fail,giving up sooner or later.But a few could succes.Only 5% ,or less,of the traders profit consistently.
Thera are no short cuts,there are no magic strategies,and of course there is no holy grail.
A professional trader gave me the best advice when I asked him how to become a successsful trader.I like to share with you his advice.He first recognized his failures when he began in this job.Losing your hard earn money,losing your account is the fate of many traders but you must realize that in order to success you have to travel along three developing stages in trading
First : SURVIVE .This is the most difficult one.You are a newbie in this world,the pros love to trade againts newbies because there is a quick profit to earn,the money flows from your pockets to their accounts.As soon as you understand that break even is your goal in this stage the better for your saving,You get experience with real trading,fear and greed are your worst enemies.Remember this game ends when you lose your money and plenty of guys are waiting patiently for your mistakes.
Second : CONSISTENCY.Look for small profits,win a little bit more than you lose,do it consistently day after day ,month after month,compounding will increase your account slowly but steadily.
Third : SUCCESS,If you reach this stage enjoy it,the forex market is plenty of newbies ready to paid you making the same mistakes you did when you were a newbie.
I am in a prestage phase as I am a demo trader but I have wrote the three stages on a piece of paper .This piece of paper is near my computer,the text is printed also in my brain.
Have a nice day and good hunting.
Ordinary people without any experience could become a trader,even a successful one.The road is extremely hard and many people fail,giving up sooner or later.But a few could succes.Only 5% ,or less,of the traders profit consistently.
Thera are no short cuts,there are no magic strategies,and of course there is no holy grail.
A professional trader gave me the best advice when I asked him how to become a successsful trader.I like to share with you his advice.He first recognized his failures when he began in this job.Losing your hard earn money,losing your account is the fate of many traders but you must realize that in order to success you have to travel along three developing stages in trading
First : SURVIVE .This is the most difficult one.You are a newbie in this world,the pros love to trade againts newbies because there is a quick profit to earn,the money flows from your pockets to their accounts.As soon as you understand that break even is your goal in this stage the better for your saving,You get experience with real trading,fear and greed are your worst enemies.Remember this game ends when you lose your money and plenty of guys are waiting patiently for your mistakes.
Second : CONSISTENCY.Look for small profits,win a little bit more than you lose,do it consistently day after day ,month after month,compounding will increase your account slowly but steadily.
Third : SUCCESS,If you reach this stage enjoy it,the forex market is plenty of newbies ready to paid you making the same mistakes you did when you were a newbie.
I am in a prestage phase as I am a demo trader but I have wrote the three stages on a piece of paper .This piece of paper is near my computer,the text is printed also in my brain.
Have a nice day and good hunting.