Forex Videos

What are the secrets to be being a successful Forex trader.
1. Stop hoping to get rich quicker. Forex is not a get rick quick scheme.
2. Look for Forex training.
3. Concentrate on trading practices. Pick one trading system and stick with it.
4. Build a support network of family and friends. Find a good Forex forum and look for good mentor and Forex coaching.
5. Develop discipline. Keep to your trading plan.
6. Have patience. Depending on your system, you may sometimes have to wait a long until the market comes up with a trading signal for you.
7. Apply tight risk management. Always apply stops and put strict limits on the amount of funds that you risked per trade.
8. Maintain emotional control. You need to be able to stay calm and apply your plan even after a large loss and never allow yourself to be motivated by greed or fear due to loss.
9. Be realistic in your goals. A profit of 5% to 10% per month is excellent.
10. Do not expect thrills. When you start out, Forex trading can be exciting. However profitable currency trading soon becomes boring and you must operate a low risk strategy.