As a beginner in the Forex market I wanted to learn everything I could to get an edge. I took multiple courses and entered into mentoring programs etc. I tried all of the technical indicators available in an attempt to find the “Holy Grail”. It wasn’t until after this extensive testing that I realized that success in the Forex market relied heavily on my ability to stick to the basics. All the indicators in the world won’t make you a good trader. I found that the more stuff I tried the more cluttered my screen got and the more confusing trading got. The process I underwent reminds me of a spiritual metaphor I once heard where the farmer who tills his soil and works his land decides to search for enlightenment. Eventually, after years of spiritual search for enlightenment, he finds what he was looking for right there, on his farm, tilling his soil and working his land. However the journey was necessary to discover and appreciate this.
Forex trading as with any trading is a journey, it’s a skill honed from hours of research, back testing and trading. Over the next several months I will be sharing my perspective and my experience with you. This is essentially the beginning of what will be a fantastic resource for you. I will discuss several aspects of trading ranging from pattern recognition to price projection techniques. I would like to provide you with a shortcut to becoming a profitable trader. I believe that by showing you these methods over the next few month, you will be able to give yourself a very profitable income.
Although I will be the one who relays the method to you, make no mistake, you are the one who has to convince yourself to implement the trading methods and finally push the button. If you are new to Forex trading I have the utmost respect for your efforts in becoming successful in the Forex and I am confident that the materials I will cover will greatly jumpstart you’re trading. To those of you that are experienced traders I equally respect you for your desire to continue to educate yourself and perhaps you will find that the material I will be covering grounds you and brings you back to the basics and in return your trading will greatly improve. You never know what little piece of information can take your trading to the next level.
As you follow along with me over the next few months you will find that I am a huge advocate of buy high and sell higher or sell low and buy lower. So many traders try and find the very bottom or the very top, this is not necessary. Wait for the market to choose a direction and then look for a valid entry in that direction. It is important that you are able to act in your own best interest. If your trade is not going well then you must be able to identify this and immediately close the position. On the other hand if you find yourself in a winning trade you must have the discipline to let this trade continue and not close the position. Consider a game of Poker, imagine sitting with a group of people playing Poker and holding a royal flush, you can’t be beaten. No matter what happens there isn’t a stronger hand. You have to ask yourself; why would I ever fold? All successful traders will employ a strategy to let these profits run. If you currently are not letting your profits run, then you are cheating your account.
Stand by for what’s to come and if you would like to be notified when a post is made on this blog you can get a notification email by subscribing to ForexTradersDaily. I also encourage you to share on twitter, facebook or any other comunity you are part of if you found this helpful.