Forex Made Easy

22 October 2011

If you’ve been around any length of time, you’ve heard or read how the basketfuls of money we can make from Forex Trading (or FX Trading), so what are the tips and rules and strategies we can incorporate to make money from 4X Trading?

Below are the six tips that we have come up with to help make you money in this crazy but rewarding field of 4X Trading.

Tip #1 Don’t get greedy. Wow. This is too simple. When you’re on a hot winning streak, it’s easy to think you can’t lose. This is dangerous thinking. Trading the Forex Market is easy but you can lose your shirt too. Be careful. Greed can deplete your account faster than you can say “that’s not what they taught me in that article!” Greed can be devastating.

Tip #2 Get Smart About Trading You don’t have to be a market genius to make money in Forex. Anyone can learn how to trade and anyone can make money. You don’t need to spend long getting educated either, but having experience trading will be invaluable to you. Make sure you have a trading rules and a trading plan.

Tip #3 The Best Proven Systems are Simple This tip is perhaps the most difficult to conquer because we like gadgets and systems and indicators and tools. Use the KISS method: Keep it Simple Stupid. The phrase is completely overused but it fits. Use a few indicators, and support and resistance. Don’t get complex. Simple trading systems are far more robust than complex ones.

Tip #4 Risk and Money Management Rules This tip is probably the least appealing. Success is built on money and risk management. You need to learn about fluctuations and standard price deviation and if you have no idea what it is, there are plenty of resources online to educate yourself.

Tip #5 Discipline- Set the Rules and Stick to THEM No matter how great you think you are (and you’re probably not all that), you will have losses. Even after you search the site for nuggets of wisdom and insight, which you will undoubtedly find, you will still need disciple. So, let me repeat that, you will have losses. But you need to have discipline to ride out the losses and bounce back. Know your rules. Stick to them. You need to keep your emotions in check when trading. Always. Always. Always.

Tip #6 Paper Trade Until You “Make Real Money” Practice Practice Practice. There are great software programs out there to help you so that you won’t lose money quickly. You can test strategies, theories, and win a trillion dollars – all with no money changing hands! You need to do practice.

We believe that anyone can make money trading Forex. Anyone. The effort you need to put in will be well rewarded. So don’t forget the rule that simplicity rules. Simple, steady, and well executed strategies will make you the a lot of money from Trading Forex.


About the Author

Dusty is a search engine optimization consultant in the private investigator field who also loves to highlight quality PIs. Covert Investigations, a private investigator Jonesboro agency, is one such PI.

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