That is very much significant to study the forex trading before you can begin the trading in the market as if you do not know how to trade then you can not able to trade in market to earn the good income. So first of all get the all education objects and read all the things and then practice on the demo account as much as you can to get the excellence in your trading.
A Trading plan or plans invariably become necessary, the trader’s chief concerns being where do I enter, where do I exit, what should my target be, what should my stoploss be, how much risk can I tolerate. The character of the market itself is a secondary issue at best, But what should be noted is how the market can serve you better - rather than the other way around although both the above mentioned is as equally of important once arriving at your Trading Plans. - One begins, of course, again, by observing the market, characterizing it, then formulating hypotheses that tentatively explain its movements. - One then tests those hypotheses in order to determine whether or not they are true. Over a matter of Time - An examples being are my predictions reliable. Only after all this has been done dose the matters of how to take advantage of what one has determined to be true comes into the picture, i.e., entrances, exits, stops, etc. Your trading plan is well-thought-out and thoroughly-tested. Therefore you have nothing to be afraid of by following it - A Traders Notes : Additional Advise re-edited as of further clarity which you can put into practical use.
The first thing to do when starting a new project is not to start learning. Step one is scoping - What do I want to achieve? What things do I need to understand in order to get there? Then, learn those things and trial them.
If you mean setting goals this is a good point - If you mean setting expectation at what I should be aware of -Than you are simply begging the question of the intelligent mind and quest for knowledge - Because you will not find this out until you have prior experiences of what could be the problem as well how do I solve the problem at this point.
fordewind you appear to answer all questions as if resentment is upon you - How do you fair at your trading to discount - Once you are applied to Position Trading and once a Trade as been entered in against you.
No, I agree, expectations are a red herring. The beginner cannot know the performance of any given strategy in their hands so financial expectations, especially like the ludicrous $200 per day earnings targets often seen posted by nearly-traders on forums, are a handicap. I do mean limiting research to what needs to be known to make a winning trade. Otherwise, there is an unlimited amount of knowledge for the beginner to gain, most of it unnecessary. Its bizarre to see beginners with £1000 accounts swallowing the line they must do 10,000 hours of screen time to make a consistent profit - when all they wanted was some spare cash for the car's annual services.
10,000 hours of screen time to make a consistent profit - when all they wanted was some spare cash for the car's annual services. - Well this can be seen as gold setting as well you require A Trading Planner at an early stage you mean - the Market Cycle - Ar I have the expertise. Or you are referring to a good read up through a good source of ebook online service providers I think this where you are coming from & why not towards fore-filling the time. Sounds only fair to me - Now try telling that to a new starter that is already in the know of this thoughts and actions and the intention on why he/she turns to trading in the first place as way to supplement there income.