Before You Trade Forex Take Time To Find A Reliable And Viable Trading System
You want to trade Forex. You have read about it. You know that there is huge potential. You also know that there are many, many ways that people trade it. You wonder how to decide which trading method will work best? Is there a best? If there is you definitely would buy it and learn it.
How will you know what the best is?
Automated Forex trading systems should be out of the question but if you want to educate yourself to them go ahead and buy one, put some money in your account, lose it and then move on. By all means don't let that experience deter you from learning how to trade in the Forex market. It is the largest market in the world and although the rules are set up for the big boys - after all it is their game - we the "little" guy can make money.
Just beware that going through the automated system phase of your Forex career is like you mother telling you not to touch the stove because it is hot. You will only do it once.
The way to decide on the best trading system is to Think and then Test, then Trade. What do I mean by that? The only way to think is to educate yourself. The best way to educate yourself is to read. A well known fiction author told me once, when discussing how he prepared to write a historical fiction novel, that he read until he began to hear the same thing twice and then when he heard it the third time he was more certain it was true and he knew he had learned something. The same is true of Forex. The theories abound. Start somewhere and see what makes sense; most of all read and Think.
Next, Test. Test a trading system that you think works. If you can, find a mentor. Face-to-face would be nice but the Internet will do; someone that will answer your questions no matter how many you ask.
Trade means to put the Thinking (reading) to Test. This means demo trading the system. The reality is that you will need to fail some before you succeed. Baseball players learn from the little league to the minors to the majors. Every step has its lessons. With time and persistence you will reach your goal.
There is the chance if you do your homework and find the right system you will shorten your road to success.
Find a system that treats the trade signal algorithmically. That means the signal comes to your computer, email or cell phone. It is best in the beginning NOT to let these signals automatically trade for you. You should treat the signal as an opportunity to trade. NEVER disengage your mind from the process. Every trade should be taken in context. If you do these things you will succeed at trading the Forex market.
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