Forex Trading Success: Process, Learning, Strategy
Do you want to be a successful trader? Are you preparing forex trading as one of your sources of income? Have you learned how to take advantage of opportunities in the forex market well? More importantly: do you know that to be a successful trader requires a process that is not short?
Likewise in forex trading. The “Turtle Traders” care of Richard Dennis went through the process of being able to become a respected group of traders in the world. They learn trading strategies diligently and consistently before Dennis releases them to transact with a real account.
Being a successful trader is not impossible. Richard Dennis has proven that anyone can become a reliable trader. It’s just that you have to go through the right process to get to that stage.
The most common mistake made by novice traders is that they quickly despair (even though despair is sinful!) When they fail (read: losses) in their trading journey. Then they easily said, “Trading is difficult!” Or, some say, “The trading world is not for me.”
In fact, falling in the journey of learning forex is a process that must be passed. Losses (read: risk) are parts that cannot be separated from trading . You will not be able to eliminate risk factors; all you can do is manage the risk well and optimize the benefits that exist.
Practicing is something you must do. This is one of the processes that you must go through. Of course, you also have to give up some of your time for that.
The safest way to practice is a demo account. With a demo account, you will be able to practice the techniques that you have learned before. You will also be able to find the right forex strategy that suits your character.
As said before, there is no time to set aside to practice. Use a demo account as a simulation tool with the actual market conditions for at least three months.
In simulating a demo account, you must treat the transaction that you made as if it were a real transaction. That is, you must apply the trading plan that you make with discipline.
In addition, you can also evaluate and learn to develop techniques and trading strategies that are right on the forex market.
Determination is an important capital, if you really want to be a successful trader. Easy to say, but not as easy as doing it.
This problem of determination, no one else can help. Only you can help yourself. Likewise, you can strengthen your resolve by reading many inspirational stories from successful traders, or reflecting on successful traders you know. The story of “Turtle Traders” mentioned at the beginning of this article might help you to strengthen your motivation.They depart from ZERO, not even having the knowledge of financial markets in the slightest. But in reality they managed to become legends.
No business can succeed without the courage of the perpetrator to face risks. Likewise in forex trading.
But remember, dare to be different from desperate. Courage is always accompanied by careful consideration. In terms of dealing with risk, your courage must always be accompanied by a proper calculation in managing capital and limiting risk.
So, good luck fighting!