Medical Book
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Medical Book

Buy Textbooks | Autoclaves | stethoscopes | Buy Books Online | Buy Medical Textbooks | Textbooks | Equipment | Nutrition | USMLE | MRCP | MRCS | Dental | Sport Medicine | Cardiology | Medical Textbook | Surgery | Pregnancy | Anatomy | Radiation | Pedia |
 
HomeLatest imagesPublicationsRegisterLog in

Share
 

 Being a Currency Trader

View previous topic View next topic Go down 
AuthorMessage
painofhell

painofhell

Male Posts : 669
Birthday : 1990-05-18
Join date : 2014-08-16
Age : 34
Job/hobbies : forex

Being a Currency Trader Empty
PostSubject: Being a Currency Trader   Being a Currency Trader Icon_minitimeWed Oct 14, 2015 2:20 pm

Being a currency trader is a total adventure. Currency trading is something that can be a lot of fun. It's also something that requires some special skills.

Many people would probably assume that a currency trader has to be highly sophisticated and maybe have the brain of an engineer. Actually, nothing could be farther than the truth. Trading currencies is pretty simplistic. There are some traders that love to pour over reports and figure out why things move the way they do, and that is a good thing to do, but trading currencies is really about following trends.

When you want to make money on a currency pair, you only need to put in a trade that follows the direction that the currency pair is going. It's always a good idea to know why things move the way they do, but the actual trading method is simple, follow what you see.

Being a currency trader is an easy job, once you learn what it's all about.

You'll need to be able to control yourself well, particular your emotions and be able to admit your mistakes and learn from them. Those are the keys to progressing in forex trading. People tend to make up complicated ways to come up with their traders, and this is fine, but it requires that you learn from your actions. In general, humans don't like to be wrong, and in currency trading, sometimes, you just are. What matters is how you handle that and whether you learn from it.

Currency trading is fun, the market is open 6 days a week, 24 hours. If you have access to an internet connection, you can make your trades. Depending on your trading style you might even be able to trade in just a few minutes a day.

While this is not how many traders trade, it's the way that it can be.

How your trading life goes, depends on what your style is. When I first started trading, I had no idea what I was doing and I was fascinated by everything. This led to not sleeping, investing too quickly, and trying out everything that I came across.

It's really no surprise that I lost money, because I would sleep for two hours and then have to get up and check the markets. I was often obsessed with the small movements and any news report that was coming out anywhere. This could be your life if you're a little crazy.

These days, things are different, trades are made in a few minutes a day on average, and I can trade while on vacation, or at home, or while doing anything basically. The results are better, and my stress is many times lower.

I've seem people quit currency trading because they became too obsessed with a trade and had their account whacked down to size. It's tough, but this happens, and it happens even to experienced people. Losing money in this industry is easy because they basically hand you the beer and the keys to the car. It's up to you to toss that beer and go driving on your own and set a reasonable pace.

Being a currency trader is a good gig, but it's not easy getting started because of some of the growing pains that you have to go through personally, and learning how not to overdo it and stress yourself out.

All that being said, you will get through it with some patience and care. Nothing worth doing is ever easy. This is not winning the lottery, there is work involved in succeeding. If you hang in there you can make it to the other side.

Share
Back to top Go down
 

Being a Currency Trader

View previous topic View next topic Back to top 
Page 1 of 1

 Similar topics

-
» The ABC of a Successful Trader
» How To Become A Successful Trader?
» WHAT MAKES A DAY-TRADER
» 20 things you need to know to be a successful trader
» The Prices Ranges Every FX Trader Should Know

Permissions in this forum:You cannot reply to topics in this forum
Medical Book :: Forex :: Forex Education and Learning-