How To Trade Forex And Why You Require A Good Forex Trading Education . Give Up Dreaming About Robots That Will Make You Rich.







Many traders ask me how to trade Forex, many have read a few books and articles, a few have bought into the prevailing trend of automated trading robots.
What they all share in common is that they have lost a load of money. Why? the reason is simple, trading Forex requires perseverance, patience and skill. Most of the would be traders I've spoken to, have none of the above.

Many were told that it's simple and easy money, all you have to do is set up a trading platform with charts, add some indicators and away you go, money in the bank. Some were sold trading robots, here they were informed; just get a Metaquotes (MT4) platform set it on auto trade and go to the beach, or play Tennis or whatever makes you tick.
Piece of cake? Yep, an easy way to ensure you lose your deposit pretty fast. Why do trading robots not work? well some do, to a degree, however, they need to be set up in a specific way, they need to kept in check and one really needs a good understanding of trading and some coding for that.

So, is your dream of becoming a decent Forex trader possible at all.
The answer to that will depend on entirely on you, are you likely to do the necessary work, taking the required steps to become one?

If on the other hand, you can, then spend the time mastering exactly what it is about. Learn also, what it is not about. Here are some fundamental details about Foreign currency trading:

1. It is a massive market and is primarily controlled by large institutional players working for financial organizations.
2. No matter how big you trade, you chicken feed compared to the big boys.
3. Currencies respond quickly and sharply to news issues, undoubtedly the anticipated ones, like CPI, GDP, Interest rate etc, but can often also turn on a dime when some unexpected news item hits the wire. This is specially true when some central banker or politician is talking.
4. If no special news, currencies often trade in series, and it is important to find out what they are.
5. This is a highly leveraged market, and leverage can work against you. Make sure you know how many Dollars per pip you are trading.

If you need any assistance, I am always happy to provide some help via the blog or my Facebook page.

Are you ready to commit time and possibly some money in a Forex trading education??

I have been trading for a living for 7 years now, I run a trading blog (http://tradeconscious.com) and a Traders chat room, so I can tell you that it is possible to learn and become a successful trader, are you prepared to take the needed Forex trading training?

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