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• Learn Forex

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  Volkan ÖZÇIRPICI

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  Learn Forex

  We cannot over emphasize the importance of Forex education for your money trading. Without a formal structured study and practice would be like the first time riding a bicycle. Without those training wheels or an adult balancing you results in crash and ouch. Those first attempts to ride the bicycle are also done somewhere safe and not the middle of a busy street. With that in mind why would anyone consider trading without the proper training, learning and practice?
  
  As a Forex beginner, once you have demo system traded for a period of time, have become comfortable with the trading environment and have become a consistently profitable trader then consider moving into a live real-money trading environment and trade your live account using very small lot sizes. It is more important that you continue to trade consistently and profitably than how much money you make or could be making. After that transition to live trading and you’ve observed your consistency and profitability continue, then consider increasing the lot sizes of your trades.
  
  Whether trading using the demo account or live trading record all of your trades in a trading journal on paper (or electronic spreadsheet) as a percentage of winning trades to losing trades, a running total of all trades and as a week by week percentage. Also keep a running record of your profits/losses for trades in the journal, trade entry prices, trade exit prices and stop loss settings. Then you can’t fool yourself into believing that you’re ready to really trade or whether you need more study and practice.
  
  • 03 Feb 2012, 09:23 am
  Volkan ÖZÇIRPICI wrote: > We cannot over emphasize the importance of Forex education for your > money trading. Without a formal structured study and practice would > be like the first time riding a bicycle. Without those training > wheels or an adult balancing you results in crash and ouch. Those > first attempts to ride the bicycle are also done somewhere safe and > not the middle of a busy street. With that in mind why would anyone > consider trading without the proper training, learning and practice? > > As a Forex beginner, once you have demo system traded for a period of > time, have become comfortable with the trading environment and have > become a consistently profitable trader then consider moving into a > live real-money trading environment and trade your live account using > very small lot sizes. It is more important that you continue to trade > consistently and profitably than how much money you make or could be > making. After that transition to live trading and you’ve observed > your consistency and profitability continue, then consider increasing > the lot sizes of your trades. > > Whether trading using the demo account or live trading record all of > your trades in a trading journal on paper (or electronic spreadsheet) > as a percentage of winning trades to losing trades, a running total > of all trades and as a week by week percentage. Also keep a running > record of your profits/losses for trades in the journal, trade entry > prices, trade exit prices and stop loss settings. Then you can’t fool > yourself into believing that you’re ready to really trade or whether > you need more study and practice.