Forex Education Center/ Part 17 / E CURRENCY TRADING MAP

Thank You For Your Support and For Honoring Me With Your Up Vote...

In this section you will find your road map on how to become a real successful trader .

The following is your road map on how to become a real successful trader couple of months as from today.

Step 1
Understand the general idea of what is the Forex Market and its internal mechanics. To be honest it is a very simple concept.

Step 2
What time Forex can be traded? Forex market is actually 24 hours market, but certain currencies are best suited to be traded within specific hours of the day.

Step 3
Who is trading currencies beside you? Being an alley with the big dogs by trading in the same style they trade is key for success.

Step 4
Which are the most popular currencies? Starting to trade with the major pairs is of paramount importance and EUR/USD is the best currency to start with.

Step 5
There is a list of fundamental requirements that are needed so you can start trading. Read the article to find out. Too much to repeat here again, sorry.

Step 6
You must have a reliable broker. Reliable in terms infrastructure, regulated and most importantly honest.

Step 7
You need to learn how to use the trading platform offered by your broker inside out.

Step 8
How shall we trade? Using Fundamentals or Technical Analysis or both?

Step 9
We need to find and trade using reliable profitable trading systems. These systems must be profitable in the long term. Do not expect that you will win every trade.

Step 10
You need to find your trading style. Are you a scalper, intraday trader or day trader? How will you fit in trading within your daily life?

Step 11
Trading Forex involves huge risks. Be careful to understand these risks.

Step 12
Further to Step 11 you need to have a solid money management plan and you stay disciplined and stick to it even when things are going wrong.

Step 13
Make realistic expectations of profit but only when you become profitable with consistency when demo trading. 3%-5% per month are realistic expectations. Yes we will not make millions as internet marketers say.

 Below you can find All of my previous posts : 

Forex Education Center / Part 01 / Live Vs. Demo Trading Accounts

Forex Education Center / Part 02 / Slippage

Forex Education Center / Part 03 / ECN Market

Forex Education Center / Part 04 / What Makes a Successful Price ActionTrader 

Forex Education Center / Part 05 / The Manual of the Forex Art of War

Forex Education Center / Part 06 / The Don’ts when you Compare Forex Brokers

Forex Education Center / Part 07 / What is behind Currency Pair Trading

Forex Education Center / Part 08 / Banks: Beacons of Fraud

Forex Education Center / Part 09 / Win With CFD’s

Forex Education Center / Part 10 / Fight and Win the Bulls and Bears

Forex Education Center / Part 11 / How to Spot a Forex Trading Fraud

Forex Education Center / Part 12 /  Become a Master with News Trading

Forex Education Center / Part 13 / The Forex Risk Management State of Mind

Forex Education Center / Part 14 / Top 10 Forex Trading Tips for Beginners – The Road to Success

Forex Education Center / Part 15 / Trader’s Strategy Checklist

Forex Education Center/ Part 16 / E Currency Trading

Every comment, every up vote, every support is really appreciated.
Thanks For Reading,
@lordoftruth
Samer