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Example of a Profitable Transaction in FOREX.
As it was mentioned earlier, there are TWO timeless rules of Investing in FOREX: RULE #1) ~ Cut your losers; let your winners ride. YOU WILL HAVE LOSING TRADES. We do. Every FOREX trader does. The key to being a consistent, predictable, reliable...Read More
Fear And The Profitable Forex Trader.
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My succesful steps ( or forex trading course for newbie trader)
My succesful steps ( or forex trading course for newbie trader)
by Tom S
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Hello newbie traders! I am also a young forex trader but have my
own forex strategy. It is not strategy of a forex professional,
but the strategy that I use to get money from FX every month.
Each of us wants know the best way to be a successful forex
trader. I think the best way is to study yourself and get
experience. There are many web sites with free articles,
different seminars, forums which can help you develop your own
system. Read, read and read. In this instance my bible is
"Technical Analysis of the Financial markets by John J. Murphy".
Own system ... it is GREAT ! But in reality your own system is
a period of hard work within a year or more. I also work under
it, but all interesting is always here - CURRENTLY, not in the
future! That's why I prefer make money when I create my own
system.
When I started at forex I had been trading demo account for 3 months. This period of my work is a period when we accumulate trading information - buying books, going to seminars and researching. I graduated I-Trade FX . But before doing that, I would like to be able to learn everything I can from free sources like this great forum - MoneyTec. I have been browsing this forum for the 2-3 months (read today also :) ) and just taking great knowledge and experience from forex traders! Most of my favorite forex links I see at the simple forex directory AllForForex.
The next step is to be careful and to get money. I use forex trading signals and forecasts. In my opinion forex forecasts is a very good service for a newbie trader. You can receive forex signals with entry point, stop loss and take profit levels. Some good sites that sell forex signals are
FXUniversal (their DashBoard FX is an ideal solution for those who do not have time or experience to analyze effectively the market within 24 hours a day or 6 days a week), FXMaster. I prefer FinRise's forex trading signals free of charge . I see them by their long term results. Now, I follow their signals with half of my account balance and I trade the rest myself. I have found them to be an open and honest signal provider. Want to know why ? That's why - below is my statement for October/November 2005 (each position was opened by signals from FinRise):
Statement available here http://forex-trading-your-online-future.blogspot.com/
As you can see, it is an honest service with loses , but real profit at the end is inevitable! FinRise helps me to control and to correct my own forex trading system. Using their signals - I see how to trade today , and if my system says me "sell" , but FinRise says "buy" - I just do not trade :), and correct my system if necessary - when the next day I see - who was right.
I wish you to create your own profitable forex system, but your desire to make money right now must live ! Use my successful steps for your way to gain profit at the forex market!
At the end please read and remember these simple famous rules which a forex trader must know!
1. Always trade with the trend.
2. Never risk more than 5-10% of your trading capital in a single trade.
3. Never trade without protective stops.
4. Never let a profit run into a loss.
5. When you in doubt, get out. Do not get in when in doubt.
Newbie forex trader. Tom S.
About the author:
Was born to trade at forex :)
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