Do you want to win at forex trading and earn money from home? If so, here are five top tips I have on how to beat the market consistently.
1. Stay Focused. Do not waste your time going out and spending thousands of dollars on every course known to man. You should get familiar with how the forex market works and then open a demo account. Get familiar with trading pips and when to get out and when to get in. In the initial stage you should spend nothing at all. Save your money for what really matters and I will get into that in number five below.
2. Be disciplined. When you know what you should be doing but do not do it then you clearly have a discipline issue. Make sure that you get very familiar with your trading style as familiarization with oneself leads to increased discipline in most cases. More people lose their trading capital due to a lack of discipline than anything else.
3. Do not be greedy. This is another reason for the newbie’s often downfall. Greed usually plays out in the form of staying in a trade longer than one should. There is nothing worse for a Forex trader than to watch a winner turn into a loser because of greed.
4. Never trade with money you cannot afford to lose. The two previously mentioned areas (discipline and greed) are problems for so many newbies because they are trading with grocery money, mortgage money, etc.. There is great leverage on the forex market and it does not take thousands to get started. Just wait to trade until you have some EXTRA money put aside. believe me, in this market that little bit can turn into a million in due time.
5. Use the best trading software on the market. Most Forex pros use a proven and quality Forex trading software, you should do the same. I have included a link to the best three software programs that I know of …they should help. In fact, there is a review of the three at the site.
Get an Objective Review of the Most Popular Forex Trading Software Programs. Forex Trading System Review is the place to visit.