|
Actually, there are no forex for dummies theories that can save you if you’re going into manual trading path. Your aim is evolving from being a dummy in forex trading into an expert who can earn steady profits from the forex market. The changes won’t happen in just a few days or weeks, but you can shorten the time required by realizing these important facts: 1. Mastering the basic first You won’t go anywhere without first understanding how forex trading works and how people make a living out of it. I recommend you to get free lessons at forex trading course where you’ll get step by step tutorial to master the basis of forex trading. After you finished studying the trader, study the broker and how they gain their money; this is important for later step when you have to choose an online forex broker to put your money. 2. Stay away from short term trading or scalping “Keep trading at low risk” may sounds like a convenient forex strategy for dummies, but this is a misleading idea. While it seems like a low risk trading strategy due to the tight take profit and stop loss placement, you have to win multiple trades during the day to gain decent profits. Please also remember that during the day, you will also have a few loss trades as well, so your profits at the end of the day must be large enough to cover the loss. 3. Stick to proven strategies Trying to master all trading strategies known to men is simply stupid. Search for only a couple proven and reliable strategies and test them in a demo account. If you can obtain decent profits by using those strategies, open a mini live account and continue the test there. You should do this for a few months just to make sure that the strategies can hold against different market conditions. If you want to trade forex on your own, then the only forex for dummies solution for you is studying the right way to do it from an experienced mentor. The true forex for dummies strategy is having an expert trade for you (simple isn’t it?).An easy solution for this is having an EA with proven trading system behind it to manage your trades; read more about using an EA at forex robot software.
Related Articles -
forex for dummies, learn currency trading,
| 
