Categories


  » Home
  » About Forex
  » Forex Scam

Most Popular Articles


Online Forex Trading 2 in 1 Business

Online Forex Trading 2 in 1 Business
Sponsors


ADV HERE

Search




Forex Articles - Read and Download Free Articles About Forex Market, Forex Trading Articles, Forex Brokerage, Forex Strategy, Forex Charts and Forex Basics


Forex Trading Education - 3 Aspects of Confident Trading

By : Harold Hsu
View : 0 Times

When you open up your trading charts each day, do you feel calm and confident or do you feel uncertain and nervous? Many traders often find themselves feeling the latter.

To be a successful trader, you'll need to constantly feel confident about the happenings in the market. Good traders are certain about whether it's a bull market, a bear market or a ranging market. They either understand what they're seeing in the trading charts today, or they don't. They're confident about their opinions, and aren't afraid to say that they're uncertain when they are.

Gaining Confidence

One of the best ways to start each trading day with confidence is to keep to a concise, carefully-considered 'plan of action' just before you begin bring up your trading charts. Here are 3 aspects you should consider to include in your 'plan of action'!

Aspect #1: Monitor the market with a check list

Have a list of news websites and analyst reports where you can find out the latest happenings all over the world. This is helpful in alerting you of world events that occurred while you were sleeping. The Forex market runs around the clock and doesn't go to sleep at all, except on weekends. You'll thus need to have a handy list of news sites to update you on the events that you've missed out on.

Aspect #2: Be an expert of few setups

Most new traders spend too much time trying to learn all the different trade setups in the hopes that they can have the most money-making opportunities. Unfortunately, they usually get mixed signals and mess up their trades. You should instead strive to master two or three types of trade setups and become an expert on them. Don't worry about the lack of trading opportunities; the market is large enough and you'll find usually be able to find good trade entries at least once every week.

Aspect #3: Money Management

It's almost impossible to over-stress the importance of this aspect. A reliable money management system will make it almost impossible for a trader to feel scared and uncertain. It's your safety net. Never trade without one.

About the author:
To learn more, download my free 26-page guide here: "Forex Trading Traps!"Harold Hsu is the owner of ForexSystemProfits.com" target=_blank>http://ForexSystemProfits.com where he provides premium Forex trading information and resources.


2008 - Daooer - Free Forex Articles And FX Resources. All Rights Reserved.