This is a beautiful life. I enjoy everyday of my life by learning new thinks. I have played sports. I have done trading. Whatever, I have done in life; first I try to learn everything about it. If something interests me, I learn it first before doing it.

I remember I used to be very fond of playing tennis. The whole day, I would wait when I would enter the tennis court in the evening. In the beginning, I was not a good tennis player. By buying a tennis racket or a golf set, you do not become a good player. This is only the first step. You have to make an effort.

So, every evening, I would go to the tennis court and practice. I would watch how the good players used to play. Slowly, my game started improving. Winning and losing lies in your mind.

Everyday before entering the tennis court, I would imagine myself playing very well. Every defeat would strengthen my resolve to win. In six months, I had started defeating the good players who in the beginning did not consider me good.

Forex trading is like playing tennis for me. Everyday is like a battle. If you are good, surely you can defeat the currency markets. But to become good at forex trading, you have to do lot of learning and practice.

A good forex trading course is must for you for understanding the forex markets and for future reference. Go through the course form finish to the start again and again, many times. Pause, ponder and think on every detail given in it.

The most important steps for you to grasp is to how to identify the behavior of the market at a certain point in time. You can only do this by learning Technical Analysis.

Learn what the lagging indicators and what are the leading indicators. Lagging indicators depend on the past behavior of price action. Leading indicators predict the future likely course of the prices in the market.

Know what is the support and resistance at that point. Develop your perspective about the market. You should understand depth what are SMAs, EMAs, MACD, Bollinger Bands etc and how to interpret price action through them. Understanding use of Pivot Points is must for you to predict whether the currency market is bearish or bullish.

Understanding the principles of money management is must for you. Do not put more than 1% of your account on a single trade. Many traders overlook money management but it is the thing that will determine your long term success.

Share This