Forex Trading - Not a Place for Impatient Guys

[andysteven 10]

Forex is serious business, and is no place for fools. True, those who just want to gamble away with their money would serve themselves better at casinos than forex brokers. And no, currency trading is not a game, a pastime, or a sport for those with a lot of leisure time to spare. But forex is by far the most lucrative and profitable financial business for the patient, reasonable, and diligent individual who is willing to invest the time and energy necessary for success. And yes, it is possible to achieve spectacular returns in this market, if you're ready to pay for it: you're going to devote a significant amount of time to learn the rules and better your skills; you'll have to tame your pride when you achieve unbelievable returns on your investments, and suppress your fears when relatively harmless but inevitable losses threaten your determination for success. But in the end, the markets are driven by facts, and if you follow them for profit, the logical consequence of your actions will be profits, nothing more, and nothing less.

 

Forex tips - Get it learn by couple of days

 

The tip that I want to share is that the traders should enter in the world of Forex and trade with real money when they have proper knowledge of the strategies of the trading.

 

I've learned some forex tips and doing some forex analysis after going through the technical analysis tool of dynamics level

that I would like to share to beginners:

 

* Stop-Loss guaranteed: to be sure that it's not "around", nor "near", but rather exactly on the rate as you defined.

* Full control over your funds: can you control your funds from anywhere, at any desired time? Is it really 24 x 7 x 365?

* On-line currency rates: are the rates shown the most updated rates? Is it powered by reliable providers?

* Commissions and hidden costs: is the trading at your Forex dealer’s site clearly visible and well informed? Are you paying commission on withdrawals? Are you paying commissions on the trading forex?

* On-line Chat or phone contact: are their dealing forex room experts available for your phone calls? Do they offer free numbers and chat services?

 

But the most important point is that the knowledge that you'll gain by trading forex, and having a good understanding of fundamental analysis and economical events, will grant you the literacy that will be useful to you throughout your life. Even if you are perfectly content with a non-trading career, and are happy with your full-time job with little understanding of where the economy is going, you'll eventually find out that to protect your nest egg, you do need to know more about economics and trading, and that by ignoring the risks related to currencies, you're not isolating yourself from them.

 

So to achieve the great profits are possible in the forex market, great returns are achievable if you work hard and place logic and reason above emotion and sensation. If you think that you're capable of this, don't hesitate to begin your career today. If you already trade other markets, your experience in forex will widen your horizon, and enhance your skills and vision. If you're new to trading, this is the field where you'll get priceless education and invaluable experience by learning what moves the markets, and what drives economic developments.

[joshdance 10]

But in the end, the markets are driven by facts

 

What kind of facts..?

[TimRacette 11]

I'd say the market is driven by human emotions. The facts are just the catalysts by which we make decisions.

[henryduncan12 10]

Thanks andysteven to share useful forex tips here. I am familiar with most of the points but it will be helpful for new traders.

[InTheMonkey 10]

Good stuff.

 

I see a lot of people lately getting involved in platforms like forex, and they jump in without the slightest idea of what they are doing. You know they say about a fool and his money, right?

 

People looking to get involved in the markets need to realize that there is no such thing as "easy money" or "low lying fruit," no matter what some sales guy tells them.

[fx_mdugless 10]

From your article seems that you're a fundamentalist.

[dbelov275 11]

Indeed. it is not impatient folks. It takes time to learn and understand, and it takes even more time to sit behind your P.C, following charts and indicators plus news in order to make accurate analysis. Patient is one important key to be successful in Fores trading but the most important thing is the Knowledge.

[divyanshisharma 2]

You are right! Forex trading is not for impatient guys, Patience is the only way to win the forex or any other market.