These days, more beginners turn into professional Forex traders who start making decent profits. However, broking companies report that only 15%-20% of traders do succeed in Forex trading on a regular basis. Others lose in the long run. Most of them are rookies with initial capital $1000-$5000. They spend a couple of weeks on learning the ABC of Forex trading and start trading off the bat. No wonder that they eventually lose their money. Yet, this happens every year.
What does successful Forex trading imply? What are the cornerstones of successful trading and how to become a winning Forex trader? Let’s try to answer these questions in this article.
Eugene Ivanchenko (Burmen), a professional Forex trader and a member of , will help us with that…
Tips For Beginners
Fundamental knowledge is given for free as broking companies are interested in attracting new clients and getting them involved in trading by depositing decent amounts of money. A natural question arises: Can a month-long training course teach a rookie how to trade Forex (or other financial markets) profitably?
Everyone who has decided to become a Forex trader should understand that financial success depends on sound risk management as well as decent knowledge and skills. It takes a lot of time and effort to come up with a decent trading strategy start making money in the long run.
When you use leverage to trade bigger than you can afford, your risks increase as well. That is why most traders eventually lose. However, that doesn’t mean that trading with leverage cannot be profitable.
Once again, one should observe strict money management rules, thereby avoiding too risky trades.
How to Make 1000%?
Why money management is primary? Eugene says:
I have been studying at (the Department of Mid-Term Trading) since October 2011. Since then I have made 100 trades – 98 winners and only 2 losers. As a result, my initial capital is 10 times bigger at this point. My risk management rules are pretty much conservative.
When trading, you should focus on optimal trading conditions rather than big profits. If you know when to trade and when to stay away from the market, profits will come naturally.
2.5 years of trading experience is just the beginning of my trading career.
First, it is vital to learn how to stay afloat in the long run, without losing money, which is possible only through discipline, experience and decent trading strategy.
Everyone has a choice. You can study and master the art and science of Forex trading alone. This will take years to turn form a rookie into a professional winning trader. However, there are always shorter ways to becoming a winning Forex trader. One of them is training at , Europe’s Best Forex Training Project since 2009. Obviously, this will also take some time and effort. But the progress will be much more considerable within a shorter period. It is up to you which way to choose…
