Self confidence is vital in any type of trading. But make no mistake, this is a war. You need to be physically, mentally, and spiritually prepared. You also need to get the best tools, technology, and know-how you can afford. I would not discourage anyone from Forex trading, but I have the freedom to choose who I fight against. And I choose to fight against weaker players rather than a heavyweight. Because in the end, it's who ends up with the money, not who wins against all odds that count. Best of luck, and come tell us later how things turn out!
I would not discourage anyone from Forex trading, but I have the freedom to choose who I fight against. And I choose to fight against weaker players rather than a heavyweight. Because in the end, it's who ends up with the money, not who wins against all odds that count/////// I wonder, what do you trade? equities, futures, options? Of course it is good to have team of annalists giving you some tips, but for now I gotta manage without it. Actually, all the point to succeed in Forex is not to trade against the smart money but to go with them.
I understand. As you trade equities, you meant probably that Forex market is a blind one. We cannot see volumes and other stuff you can see on Level 2 and 3. But actually with some differences it is all the same. I guess futures must be the most dangerous thing to trade. i work with a guy who trades options. It seems each one choose something that suits his/ her personality the most. I traded equities a little bit, but I decided finally to concentrate on FX market. It suits me better.
James16 seems to have quite a following over there, it might be worth reading through his thread if you've got a spare couple of weeks!
"Plenty of profit in shorter time frames, 15 minute for example, you've just got to learn how to read them." Simply put!
"Make a living trading FOREX? Can it be done trading at home?" How about the proof below? Just don't give up! http://www.elitetrader.com/vb/showthread.php?threadid=125042
Making money in Forex is the hardest things to do online, you need a good strategy, money management and strictly following rules "manner", this is basic and important.Firstly, you need to find a profitable strategy, keep looking for it.