10 Ways You Must Do in Forex Trading - Ratinah

Ways You Must Do in Forex Trading - With the tremendous growth of the forex market, you will see an incredible number of traders lose all their money. Unfortunately, they haven't followed the simple steps I have provided for you.

10 Ways You Must Do in Forex Trading - Ratinah

With the tremendous growth of the forex market, you will see countless traders losing all their money. Unfortunately, they haven't followed the simple steps I have provided for you.

Follow these steps and give yourself the greatest chance to achieve your goals.

1. Have Faith In Yourself

To reach the elite level of forex trader, you must have confidence in yourself and your forex trading education. You must be willing to make all of your trading decisions, rather than relying on someone else's thinking or abilities (or lack thereof). Of course, you will be fully prepared before each risking any money.

2. Accept Your Learning Curve

Unless you are a veteran trader, you will lose money trading in the Forex market. This is an imminent certainty. I'm not saying this to put you out of a trade. In fact, quite the opposite. You will be trading against others falling into this reality day after day. However, you won't risk a dime until you learn the skills you need to make money trading forex.

3. Determine Your Trader Type

There are many ways to trade forex. They range from very active to very patient. You have to decide which style suits you best. The best time to learn this about yourself is when you are trading a demo account. No need to let your learning curve cost you money.

4. Get Education

Education is the shortest path to elite forex trading. Regardless of your ultimate goal, you will reach it faster with a great forex trading education. Take the time to review the various options before deciding who to trust with your forex trading education needs. Forex seminars will help shorten your learning curve drastically.

5. Keep Educating

To achieve and maintain elite forex trading skills, you must constantly increase your knowledge base. Your education should never end. In fact, one of the key points to look for in an elite forex trading course is continuing education. It's great to have ongoing relationships with people/people who help you achieve your goals.

6. Choose the right and trusted broker

This is very important because the forex broker is the one who will help you in every transaction. Forex brokers not only provide a forex trading platform or online application for buying and selling activities, but also provide education.

At the beginning, you will be guided and given digital or virtual money that can be used to transact in real time in the forex market. A good forex broker should provide 24 hour service to traders.

This is important to ensure that traders can carry out transactions smoothly, safely and without the problems of the broker system.

7. Learn forex and how it works

The key to success and wealth from playing forex is learning. Especially for you beginners, learning to be a mandatory food.

Take the time to learn the ins and outs of forex, including how it works, how to analyze it, observe market trends, and manage risk. Learn all this from various sources.

Explore as much knowledge as possible from people who have succeeded in buying and selling foreign exchange, such as George Soros, and others. If you fail in the middle of the road, don't give up. Continue to learn from mistakes and find ways to improve them.

8. Do research and analysis

Before buying or selling, you should research and analyze the factors that influence the movement of the forex market. Technical analysis, fundamentals, and market sentiment analysis.

It's best if you use all three analyzes before trading. But for beginners, just one is okay. For example, fundamental analysis based on economic data and news trends in the media.

Or technical analysis by looking at price movements using graphs or formulas as calculations. Meanwhile, market sentiment analysis examines the attitudes of market participants, so that it has an impact on price movements.

9. Provide capital according to financial capacity

If you want to make a profit, of course you have to be prepared with capital. The money spent playing forex needs to be adjusted to financial capabilities.

Avoid debt to be free from financial burdens. If you are lucky, the debt can be paid. What if you lose? You yourself will be dizzy because you can't afford it.

10. Train mentally to be stronger

Unlike stocks, in forex, you can be rich and poor in just seconds because prices are very volatile. So it is very important to train your mental strength to face all the risks that occur.

If one day you lose, you are not depressed or to end your life. This mentality you have to prepare. Even if the profit is big, it is not too euphoric because it is very natural to happen.

Prepare Yourself Before Becoming a Forex Trader

Whatever your way of growing your money, do it while you're sure. Prepare yourself, both mentally and with capital so that you are not surprised when you enter this industry. Focus on the process, not just profit and loss so that you can become a professional forex trader.

What separates an elite forex trader from the rest is their desire and ability to be independent. Many traders are willing to follow signals, systems, strategies or whatever you call them. By taking this approach, however, these traders are only as good as the people they follow.

An elite forex trader will take the lead. Their decisions will be calculated and analyzed to near perfection. They will make decisions without hesitation, and handle the growth of their accounts in a smart and predetermined manner. Take your trades to their level and you will never look back.

That's 10 Ways You Must Do in Forex Trading - Ratinah

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