Where do I start learn Forex ?
My answer to this question is always that initially Forex trading was more difficult than it seemed. In recent years marketing has continued to increase, but beginners are often given the confidence that in Forex trading with small capital investments in a very short time can make a lot of money.
For this illusion, unfortunately I have to tell you that learning Forex without a strong will, without effort and without high enthusiasm, is impossible for you to succeed.
It’s much better if you know this from the start so you can learn to face the challenges of forex trading. This is an important principle in forex trading.
Learn the important principles for Forex Trading
The many challenges in learning forex become very important to know because it can be a guideline and a common thread in the learning process.
You must be able to accept that you do not always benefit from every transaction, maybe you will lose. If you consider that you will always win, this will affect your trading decisions and have a negative impact on your long-term performance.
Forex trading is not always easy and requires time and experience, to be able to be confident in developing your own trading system. Like a musical instrument you cannot study in one day – just like learning Forex . If you study half-heartedly, there is little chance of success in this business.
The right training
When you study Forex , maybe you can spend a lot of money, but there is little or no knowledge that can help you. Learn about people you know have been successful as forex traders.
Patience and perseverance
Learning forex trading may not succeed in one night, patience and perseverance to improve your own abilities is very important in learning Forex . When someone provides a Forex strategy that has been tested and profitable to you, it is not necessarily able to benefit you.
The reason is that maturity and mindset can only be developed through experience and application in practice.
As simple as possible
Most people tend to solve problems with complicated solutions. When a trader tries to solve a trading problem that is a little difficult to use a solution that is too complicated, he will be confused himself so that the strategy becomes impractical. Remember!! The simpler the strategy, the better.
Rules in preparing a forex trading plan or trading plan, should be clear and uncomplicated, so there is no need to use too many applications.
In big work it takes hard work to reach the goal. In trading for this reason. By setting realistic goals, because most inexperienced traders tend to do too much trading analysis.
In learning Forex , you must focus on determining how much profit you want to achieve and the ability to execute your trading strategy.
Focus on the right thing
Many traders only focus on the position entry and after having a position, the problem starts. Chaos and confusion in finding suitable prices for profit taking or limiting inevitable losses. Rules for placing stop loss and profit taking as well as some other basic guidelines such as the right number of lots according to healthy money management, must be included in the Forex trading strategy and defined as clearly as possible.
Accepting risks in Forex trading will lead you to always remember that the market can move at any time due to external influences in all directions.
Trading Capital Protection
Don’t just focus on achieving profit, but you must always remember to protect your capital. So if you experience a loss today, tomorrow you still have the capital to make the transaction again.
Learning Forex is not just a practice, it’s very promising.
High profit prospects in the long term and this is only obtained with high focus and discipline.
All you need to do is invest as much time and effort in practicing and learning as possible from those who are already professionals.
Only if you truly study diligently and discipline, sooner or later you will generate profits in Forex trading.