Sunday, May 18, 2014

Getting Started

Disclaimer: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure you fully understand the risks involved before trading, and if necessary seek independent advice.

FOREX Trading is not as easy as it seems, if you want to be rich or get some earnings by trading.
Nobody in life gets exactly what they thought they were going to get.
But if you work really hard, amazing things will happen.

I'm telling you amazing things will happen.

There are a lot of free Forex trading learning courses, books, webpages, Facebook page and...may tell you in a way that Forex trading seems to be easy. YES IT IS, ONLY IF you 100% apply yourself.
But do you understand the fundamental and principle behind it?
And how much effort they have already put in to implement the method and tweak it?

Forex market is very dynamic, it always change. But which method to follow?
There are thousands of methods for Forex trading, for scalping, short term trading, mid term trading, long term and position trading.

I have gone through most of it. Before choosing one of the methods, you have to know your own stress limit, attitude, emotion, time allowance and guts of following your system to take that trade.
You have to try one by one to know which suite you best, mind you the market always change, one method will not last forever.

There are two ways for scalping, scalping the small move or scalping the big move.
I don't recommend scalping for beginner. My advise is before going into scalp trading, you have to be really really really understand and know how the market price move(big picture a.k.a look into larger timeframe chart. eg. Weekly, Daily and H4.) then learn how the price move in hourly H1 timeframe chart a.k.a sentiment.

Short term and mid term trading are for conservative and 'lazy' trader.

Long term and position trading need a lot of patience, if you want to make money fast or hope to close your trade soon, you won't be doing any good in long term and position trading.

Every method have its own expiry date, it will lose its accuracy after period of time.
This always happen to short term trading method because the method implemented tend to be very mechanical, as I have mentioned before market is very dynamic and it will change over the time.
You need to adjust the calculation/setting of you method/indicator as always to cope with the market changes in order to get better entry, profit and stop loss point.
Unfortunately, it is always late to be realized for most people. When they have realized about it, they have already lost most of their capital or even busted the account due to high leveraging.

To be honest to you, one method will not fit all these conditions.
Market price move in a rate, sometimes quiet, sometimes volatile, trending or consolidating.
You need learn two or more method for trading and master the essence each of the method.
Without mastering it, you will find very difficult when is the correct timing to close your trade.
Which in turn, you will be highly rely on a person who implemented the method you are using, when to take a trade or when to close a trade.

Let's work hard together. =]

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