Some Things You Must Know And Do To Reach Financial Freedom Through Currency Trading

FinanceStocks, Bond & Forex

  • Author Chris J Gucci
  • Published July 15, 2010
  • Word count 648

With the astonishing growth of the FOREX market,

you will see a multitude of unfortunate FOREX traders lose

all their money. Unfortunately, they

haven't followed the easy steps I have laid out for you.

Study these steps and give yourself the greatest chance to

reach your goals.

  1. Believe In Yourself

In order to reach the level of an exceptional FOREX trader,

you must be confident in yourself and your FOREX resources and learning

experiences. Barring any robots (see #6 below), you must be willing and

able to make all of your own trading decisions, instead of

depending on anyone else, their thoughts or ability (or lack of).

You will ensure you are prepared before putting any money on the line.

  1. Determine The Type of Trader You Are

There are a multitude of ways to trade the currency markets.

They vary from subdued to volatile. You have

to decide which temperament suits you best. This is why the ideal time

to learn this about yourself is by trading a demo account (strongly recommended).

In this manner, you will not lose any money in the learning process - the "school of

hard knocks" is not recommended for FOREX trading.

  1. There is a Learning Curve, Accept It!

Unless you are a expert trader, you are guaranteed to

lose money trading the FOREX market - unless you hire a "terminator" - see

#6 below. This is as reliable as the sunrise. I don't

mention this to talk you out of FOREX trading. In fact, I am

only trying to make you think with all of the facts

in order to succeed. You will be trading against others that fail to

realize this fact every single trading day. You will go off the beaten path

and will not risk a dime until you have completely

learned the skills you will need to make money trading the FOREX.

  1. Become a Master

Education is the shortest and cheapest path to

exceptional FOREX trading. You will reach your goals and desires quicker

with a proper FOREX trading education, regardless of how ambitious

your goals are. Take some time to test different options before deciding

on who to trust with your FOREX trading education objectives.

You will abbreviate your learning curve significantly

with the most suitable course and materials.

  1. Education Forever

It is highly recommended that you constantly

add to your depth of knowledge and knowledge base. Your education is a never ending

goal. One of the key attributes characteristic of an exceptional FOREX course

is continuing and frequent education. You should have an ongoing relationship with the person/people

helping you to achieve your goals.

  1. Hiring a "Terminator" May Be the Best Recommendation of All

Just as in the movie terminators, a FOREX robot "terminator" performs trading without

emotion - fear, greed, ego. Emotion - especially fear and greed are the dual killers of

many otherwise good trades. One example is exiting a trade too early or late.

A FOREX robot avoids all of

this emotional difficulty. A side benefit is that

you do not have to think! The robot runs quietly on your home

PC or (better yet) on a secure, reliable, remote server (also known

as "VPS" for Virtual Private Server). More on that in my forthcoming articles.

What separates an elite FOREX trader from all others is their want and

ability to be objective. Almost all traders are

willing to follow experts, signals, robots, expert advisers, systems, strategies,

or anything else you may call them. In this way, however,

these traders are as limited as the people and systems they follow.

An exceptional FOREX trader will take the initiative.

Their decisions and objectives will be calculated and analyzed to almost near

perfection. They will make decisions with no hesitation,

and master the growth of their accounts in a deterministic,

intelligent manner. Take your currency trading to their highest

level and you will never look back.

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