Trading in the forex market sounds exciting. It is. It is also a risky business, if the risk is not managed. Luckily for traders, the risk in trading the forex markets can be managed quite efficiently due to the vast liquidity in the major currencies. However, today, given the high levels of technology and the ease in which it is possible to open a trading account, a new trader can easily fall prey to his or her own enthusiasm to get started in trading due in part to the strong lure of the forex brokers who offer cheap access and a promise of easy success.
Readers of this site know that trading forex is a real business, one in which one has to have knowledge, understanding and wisdom to be profitable. Therefore, whether you follow any of the methods offered here or anywhere else, I wish to remind you to come to this business with proper preparation. It is imperative to be able to detach emotionally from being right, and therefore hold on to a wrong position because you invested time and energy and money in taking it. If you are wrong, let it go quickly. Learn to love small losses. They are much more palatable than large losses. By building a foundation in which you design a blueprint for trading, you stand the best chance of developing the appropriate and necessary confidence. For this type of blueprint, please refer to the Fusion Trading method, I offer in my course "Trading the Forex Markets - A Foundation Guide to Online Trading."
However, the point is not to pitch my course, (which I am shamelessly doing in this blog) but to persuade you to only trade once you have taken the steps to prepare yourself properly, no matter where you find your inspiration.
No comments:
Post a Comment