Hi Friends,
Welcome to first month of financial year, you know one bitter fact in the forex market. Forex is war between individuals where expertise tigers will hunt down new deer’s and share the flesh of profit among them so my aim is to save as many deer I can so I love to share my new leanings to new deer’s to escape from the clutches of tigers and to become one of them without giving away their flesh.
When I am was deer to the forex trading I used to have 100 of doubts, 1000 of confusion, I used to search an answer for all of those and spend some time in reading to learn forex. I am so scared like other deer’s and used to do lot of practice without proper knowledge and used to fallow forex gurus and their signals.
Every new deer will do the same at the beginning life of trading like:
1.Searching a 100 percent working strategy .
2.Searching signals providers.
3.Searching any website that gives an signals for trading.
4.Searching for indicators.
5.Searching for trading systems.
Ask yourself now; did you search any of the above?
You say yes,I know searching a pearl in ocean is difficult but you will get a pearl one day but searching a boat on dry land to get your destination is impossible.
Seriously all traders are like scientists because when they come to trading all will look like unknown objects in the sky. All scientist give their own perception about the universe but we don’t have any proof for that .Same goes with trading and trading is also like universe every trader tells their own perception and idea about trading. Most of the time it leads to confusion. In the free sky we can’t say which way we have go through to reach London from India. Even pilot can’t say about the route without some instruments, so these instruments are like our indicators that tells us the direction and route but deciding the right rout left to us. Why I am giving this much explanation means don’t follow anyone or don’t buy any trading system all is give an idea but no one will give you assurance that idea will work 100 percent in live.
1.Do we have to follow any forex guru? Is really that thing exits?This is my first answer for all your doubts; they can put their view of points rather than telling exact market move. So believe in your thoughts and take a stand for yourself. If you spend some more years here, you can also say your view of point. How they are presenting their view of points because they watching the market from the past some years so they know something more than you or us about the market, it may happen in future like in the past time happened but we can’t give 100 percent guaranty. We don’t have to lose hope ourselves; they may be your senior in market. So take their advice and watch wisely.
2. In the beginning most of new deer’s start their trading journey in demo account and if they will make good profit in month then they will start to open live account . if we loss the money in demo account we will loss and quit the forex market. But you will not understand that you are the only one facing or booking loss in the market and your entire bull/bear team lost that stage game so don’t lose hope and start practicing trade, so cheer up. Even warren buffet also faced some losing trades but he manged to get away from them and hold the right trades. Bad is like Shani(God of Bad luck where he comes in everybody life and sometimes may stay for long), we have to face those trades. Bad trades are part of the journey.
3.Are we doing right in trading?There is nothing wrong in market but only your in wrong side, if you lose find out the reason for their fail and fix it next time.Use proper money management and risk management for trading. I know you got a question what is proper money managements? Rite their nothing prefect in world then how can be trading have perfect money and risk management, based on your equity and which type of trading you are comfort you have to define your money and risk management for your trading.According to me all there 3 steps is very important in trading,
