Learning to trade Forex in seven steps

If you are interested in learning how to trade Forex successfully, then the most common way for an aspiring trader these days is to search for information on the Internet to immediately apply to your Forex trading account live. The problem is that their search often takes them to destinations where there are many false promises, bad ideas, negativity and an obsession with indicators. Many of the e-books for sale today are full of recycled concepts or incomplete strategies that the authors themselves do not use. Many authors do not make money from currency trading, but they make a living selling these e-books to the novice currency trader.

This easy access to forex gurus that feed the idea that currency trading is the holy grail of easy money, then feed financially on the same people to whom they have sold this idea. At the end of the day, what many of these forex gurus sell is a misrepresentation of what it takes to trade with forex for a living.

Currency trading is not easy. You can become a good forex trader through dedication and treating exchange operations as you would with any other skill. The reality is that it is hard work and should be treated with the same seriousness as you would with any other career.

The effect of all these gurus is that many currency traders start too optimistic with unrealistic goals. While there is nothing wrong with a positive mental attitude, this positivity must be based on solid foundations and realistic expectations.

New currency traders usually begin their career by buying a secret set of indicators and are quickly punished for their naivety. Many of these Forex traders then buy a different set of secret indicators until they become disillusioned and then stop trading.

In fact, many Forex traders who are now successful went through this learning process, including myself. This is only a problem if you refuse to learn from your mistakes. You must break this cycle of dependence on secret indicators and guru methods to succeed.

You help yourself at the beginning; Learning to think for yourself and understanding that while anyone can trade currencies, to be successful, you must learn to BE a currency trader.

BE a Forex Trader

Trading in Forex is easy, all you need is a Forex account with money and then enter the forex market and start trading.

Being a forex trader is more work. You should grow from the starting point of having very little knowledge until the stage in which you have a negotiation plan, understand the concepts and behavior of the currency market and be able to negotiate with a cool head and understand that profits and losses are part of being a Forex trader.

Learning to trade Forex thinking like a Forex trader in seven steps.


1. Understand your place in the Forex market

This is very important, you must understand that you are a very small fish in a large ocean.

In the currency market, most of the liquidity comes from large banks and experienced institutional operators. These are the big fish. The big fish will happily enjoy it as a small snack.

You are only fooling yourself if you think it will be easy to get money from these big currency traders.

You have to learn to swim with these big fish and catch the same currents as them. Swimming against them simply marks you as prey and, sooner or later, they will eat you.