Forex Trading Skill – How to be Professional
Forex Trader
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| How to be Professional Forex Trader |
How to be a professional forex trader is not
an instant process. There is no such magic tricks that can make a trader became
a professional one in minutes. It requires a long process and built by stages.
One thing that any trader should naturally
owned is not a trading system or strategy, but mentally-ready about forex
trading situation and all the risks.
Without having the proper mental, the desire
to become a professional forex trader will be difficult to achieve or maybe impossible
to achieve.
In this section, we will review the steps to
build mental and mindset to become a professional forex trader with the right
perspective about forex trading.
Gain
your Effort
Trading forex is not a get rich quick scheme
overnight. This is the main perspective that we all have to built especially
for newbie in financial market. Most of beginners will starts by reading an
article discussing about how cool gaining profit by forex trading but what they
does not explain is how the bitterness of loss that may be experienced.
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| How to be Professional Forex Trader |
It takes maturity to face various impacts in
business, especially in forex trading. Do not believe in good or bad luck in
business. Certain! Being a professional forex trader requires effort and
perseverance to achieve success.
Analyze
Forex Trading requires proper analysis, not
guess!
A professional forex trader should see an
indication of trading chart and analyze the trend moves in which directions in
order to take a decision, will we follow the trend or follow another trader
analysis concluded. Remember this is the analysis, which is done carefully and
produce conclusions that are considered appropriate for the trader's own sake.
Similarly, the feasibility study, which analyzes in details of all business
aspects.
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| How to be Professional Forex Trader |
In conducting an analysis (before taking a
position to buy or sell) there are specific rulesthat every traders should have.
Could be by the level of trading indicators, the support line of resistance or
candlestick. As long as a trader taking a “Buy or Sell” decision by just a
feeling or a guessing and does not use the specific rules of the trading
strategy used, then the amateur will always be the amateur and unprofessional.
Manage
your Schedule
As a trader, you don’t have to sit for hours
in front of computer. It actually depends on each strategies since we all maybe
have different perspective of time-business. We should choose the comfort one,
the one that suits our daily schedule. In a process to be a professional forex trader, we might feel depressed since we
have to separate the regular job between the trading time. It will only take
days before you get usual with it.
If the trader is one of the busy-businessman
or may have a regular job as well as a trader, it would be better if he chose
the trading strategy that only takes a few minutes to see the condition chart
to determine the long-term trend.
As for a professional trader who is also an
employee but has a lot more free time, will be able monitor movements in the
time frame chart H4 or 4 hours. In this time frame, candlestick is formed only
once in four hours. It is one of the advantages of trading forex because the
time is very flexible customized trading strategy used.
The
Uncertain One-Situation
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| How to be Professional Forex Trader |
A trader should be ready with all conditions
of uncertainty. Analysis is important, but this does not guarantee that the
market conditions will always match the analysis. Try to position yourself
comfortably with this situation, so there will be no psychological adversity
against you given the risks to be covered, and it is not the small ones. Many
traders who end up being paranoid because of the position touched stop losses.
Don’t be!
Grow
Grow Grow Your Skill!
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| How to be Professional Forex Trader |
Always upgrade your skills by studying a
variety of information about the financial market, especially forex trading. Being a professional trader is not an
easy one, because the more hours you’ve spent, determine your quality in
business. Familiarize yourself and continue to practice and perform the
analysis according to the rules of trading strategies used.
Above all aspects, mental readiness is the
important one before world acknowledge you as the professional forex trader.
