If you've ever searched for information on how to learn to trade on Forex market, it can not but you have come upon some of the many online courses and educational materials. Typically, most of them show how the investment of a few hundred dollars can make profit of $ 10, 000 or more for a period of several months to 1-2 years.
The main issue in this case is whether, as a novice Forex traders can learn in a short period of time the intricacies associated with Forex trading and expect such a great return on your money.
The answer is - unlikely! In practice, the generation of profits is not mission impossible in the medium-term, but to achieve the best results every newbie should not go on shortest path to success, which is dotted with continuous learning and practical sessions. If you are determined to take this time we recommend that you load with a large dose of patience because the acquisition of the necessary knowledge, experience and skills that lead to making a regular income, you will need between 1 and 1.5 years. In general, the period for acquiring practical skills and knowledge vary according to the individual abilities and free time for everyone.
In the other rows you can understand much what are the main craft and skill to acquire to make money from Forex trading:
1. Learn basic concepts (terms) and basic concepts related to the functioning of the Forex market.
2. Open virtual account with an online broker, download the trading platform and focus on graphic module (package / software) that is part of it.
3. Understand how work the major technical indicators included in the graphics module, which in most cases are:
- Moving Averages
- Fibonacci levels
- MACD (Moving Average Convergence Divergence)
- Average True Range
- Stochastics
- Bollinger Bands
- RSI (Relative Strength Index)
4. Learn concepts for Pivot Points and Support / Resistance.
5. Learn the strategies related to the above indicators by subscribing online course or visiting seminars organized by your Forex broker.
6. Try to develop a traders' thinking
Months, even years, may be required for the development of emotional and mental discipline which are the basis for the implementation of successful transactions. Two of the biggest enemies of novice traders: fear and greed.
Usually fear causes investors to close their positions premature to deprive them of the full benefit of the possible profit.
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