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Forex Guide Things That Every Beginner Traders Should Know Before They Start Trading in Forex
==== ====Get Fapturbo - Forex Exchange Investing Software link Below:http://tiny.cc/forextradersoftware==== ====Its a fact that forex trading became a highly preferable investment method in the last decade.Combined with the internet as a global 24/7 network forex is reachable to everyone. Ill not giveyou about the basic explanation of forex trading in this article. Im sure that i dont have to tell whatforex trading is. People which familiar or have an interest in an investment know forex already.Dont they?Forex trading is basically just an investmentAs any other investment, there are always benefits and risks beyond forex trading. Manypeople/organization, especially forex brokers, its affiliate and those who earn their income byproviding some forex related services says that forex trading have so much advantages comparedto other investments; Forex is easy, with its non-stop 24 hours market, its wide range adjustableleverage, its automated trading platform, its offered better opportunity for income resource, andmany more -- you name it as much as you want to...Blinded by its beautiful dream imagination, many small/personal traders, especially for the newones forgot that forex trading is basically still an investment program. Traders should never have athought that forex trading is an income resource.Common Beginner Traders ScenarioBeginner forex traders are usually follow the trend of forex trading without preparing and providingthem self with an adequate understanding about whats inside forex trading. Their commonscenarios are:1. Know about forex trading2. Have an interest in forex trading3. Looking for an easy and profitable forex services(Usually by looking for some services with less margin, high leverage, automated trading platform,and less risk? - which is too good to be true)4. Start gambling with their trades5. Unable to achieve profits as what their imagination6. Repeating scenarios 3, 4 and 5
7. Repeating scenarios 3, 4 and 5 again... and again...8. Realizing that they are loosing too much or that their imagination along thesedays/weeks/months is wrong (i doubt that it would reach years)9. Give up and quit their trading for good.Where did they do wrong in above scenario? Is that wrong to always searching for a better serviceto back up our trade? In my point of view, there are no mistakes in that scenario at all. But its justincomplete, and thats the most dangerous mistakes made by most beginner traders.How to Overcome Traders Mistakes and Begin to Make Some Profits in ForexThe facts are, there are just 5% of forex traders which successes with their trading. To become asthey are, we should insert step 2.5 in scenario above. This step will simplify above scenarios byeliminating the fourth and eighth and changing ninth step became TRADERS GOAL ACHIEVED.2.5 Preparing yourself with a solid basic knowledge of forex trading- Know about the fundamental of forex trading- Learn about what and how forex market really is- Train yourself to getting familiar with the technical analysis in forex trading- Learn how psychological factor affecting in the trading and define our best trading personality- Be aware in our risk and money management- Develop your most effective unique trading system based on your knowledge.We should keep in mind deeply that forex trading is an investment. There is no way that we couldbe a master in some investment that weve just dive in to for days or weeks. We have to do it bythe right way, and dont forget to eliminate your rush in the goal achievement. You will surely findyour best trading system that suits you, I guarantee that. But it would cost you some time forseveral trial and error system testing while you developing your experience in forex trading.By using an analogical approach as a computer, forex broker is the application programs andoperating system. We do need them to make sure that all we need its done, served and executedproperly. But, how good the computerization execution speed and its performance are depends onthe basic computer specification, which analogically as you.How to Get Yourself Completely Forex PreparedLearning and education materials are world widely spreading around us.1. The first and the most value added a resource of forex trading is through book reading. Forex
and investing categorized books are availabe in countless numbers in many bookstore and onlinebookstore. You should pick some of them to educate yourself with valuable knowledge of thetheory beyond forex trading.2. Try to get into some traders forum to know more about forex trading and the markets. Forexforum also a place to give you an information for forecasting the crowd psychological factor toforecast the currency price movement by examining on how do other traders react in somefinancial forex related world events.3. Get a forex course. An expert forex traders or forex broker are offering this kind of forexeducational method. The course are usually about the basic knowledge of forex, technical analysistechnique usage and its tools, an expert trading advice or maybe in how to develop a particulartested forex trading system which profitable (if done right and backed by your forex basicknowledge).4. Forex magazine subscription. Some forex magazines are published weekly, monthly and othersmight be yearly. These materials usually give you information about the updated forex marketbehavior overview and analysis which can be use for the input of the fundamental analysis of yourforex trading.Octa is a private investor, an online writer and the owner of a forex trading blog[http://forexocta.blogspot.com]. She owns an online bookstore with a numerous collection ofinvestment related books. Octa also a contributor in some finance categorized blogs.Article Source:http://EzineArticles.com/?expert=Octa_Arifiani==== ====Get Fapturbo - Forex Exchange Investing Software link Below:http://tiny.cc/forextradersoftware==== ====
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