The right path for traders!

Trading is not an easy profession and if traders start in these business in the wrong foot it will be more harder for that trader to achieve success. But their is a better path to take to increase our chances of success and may also save us lots of money.This recommendation is based on my personal knowledge and years of experience as a real trader.

Path To Success:

1. Learn a lot, I dont care if this and that website or person tells you that you can easily learn how to trade forex, the truth is they are lying. There are two aspects of trading that should be given emphasis in learning, these are the technical and psychological aspect, the technical aspect are easier to learn as compare to the psychological aspect because you cannot perform technically better if you are not psychologically in control of yourself, but make no mistake about it they are both important in trading. Just make sure that you have a thorough understanding on both aspects before you move on to the next step. There are a lot of free learning materials pertaining to such topics online just chose what you believe the most comprehensive and easy to understand. At the end of your learning you must already have chosen at least one trading strategy to use for the next step.

2. Demo trading, Okay you completed the first step and you feel that you are technically equipped to face the market, not yet, you need to test first what you learned in a live market environment without the risk of losing real money, dont just play around trading a demo account,you have to apply the strategy you chose from step 1 and  feel it as you are trading real money, this is the point where you can make the necessary adjustments to your trading strategy should you feel there is a need, what is important in this stage is to establish a track records of profitability using a particular strategy, do it for at least 3 months and evaluate the results after, if the results are good then move on to step 3, otherwise evaluate your trading performance, make the necessary adjustments until you get the results you wanted, do not attempt to move to step 3 if you cannot achieve your goal here, you will surely loss money, I guarantee that it is more harder to trade in real account than in a demo account.

3.Live trading, now you have proven your worth, you achieve step2 it is time to swim in real water with sharks and piranha waiting, there is not much adjustment here, you just have to continue what you are doing in the demo account, if you follow exactly the same approach in the demo you will probably get the same results in live account, but be aware though that you will experience emotional pressures here in all of your trading activities that can alter the results, this is an aspect that you dont experience in demo trading, most traders fail in handling such pressures, but if you are disciplined in following your trading rule you will surely get the desired results in your trading, it may be a struggle to control your emotion at the start but it is the only way to be successful in this market, your goal here is to learn how to control your emotions, once you are able to handle it effectively, trading will be an easy thing for you. To minimize the risk I recommended that you use a cents account first.

Trading is a tough profession that only a few succeeds but if you travel the right path in your journey you will surely arrive in your destination.

Smartest and fastest way to make money in trading!

Online trading(particularly FX market) is a tough not to crack, it will take you years of learning and practice before you will be able to create or develop the right skills to be a successful trader or perhaps you may quit before you even taste success.

Trading is a very attractive endeavor to pursue but it will be very hard at the start to make a living in this business and probably you will end up losing a lot of money in the early part of your journey if you trade on your own.

So, if this is the case how can you make a living in trading at the shortest possible time without really losing a lot? With the introduction of copy trades and PAMM(Percentage Allocation Money Management) program making money in trading can be much easier as compare if you do manual trading by yourself, because copy trade and PAMM providers are traders that has more experience in this field and they already has a proven track records of success, of course not all providers are good and produced good results but since you can see their track records easily by looking up their trading history it will be much easier for you to choose who are the most reliable ones.

It may have been a good thing if you really learn to trade on your own and be successful using your own strategy but it is fact that it may take years of constant practice and engagement in the market before an individual becomes a profitable trader. So while trying to be a successful trader it would be better to allocate a bigger chunk of your investment money to copy trades/PAMM programs in this way you can possibly make money as soon as possible and when the time comes that you are very confident of your performance as a trader then you can re-aligned some of your investment to your own trading account.

You can start looking for good signal at Zulu, MQL5 or some other reliable copy trade sites, even some brokers provide their own copy trades and PAMM programs.

The importance of psychological stability in trading!

No matter how great the trading strategy is, as long that the psychology is not attuned to the market the trader will always end up a loser. This is how important psychology is in trading, many traders may ignore or not giving attention to it but it is the most reason why traders fail over and over again. If a trader is trading under emotional pressures  it will be just a matter of time that his trading capital will be wiped out, guaranteed!

Achieving emotionless trading can be a hard battle probably for almost all traders but it is an important factor in becoming a consistent profitable trader, especially if you chose to trade manually.

But,what do we really mean of emotionless trading, some traders may have different interpretation about it but based on my experience it is all about being not afraid or worried of what is going to happen to a particular trade(s) whether it will win or loss.

How a trader reacts to a particular trade(s) is a key factor to his future trading performances,if he feels betrayed, disappointed or angry the moment his SL is hit or maybe becomes very confident after got a run of winning trades then chances are that particular trader is still making trading decisions based on his emotional tendencies and dont be surprised in a matter of months his trading capital will be gone.

We are emotional by nature but again I will always say this you cant bring emotions in trading, find a way not to let emotions  interfere in your trading its the only way to be successful in this market and that is what professional traders do. You may say I am a fool, emotionless trading is not achievable in trading, but I say it is possible and it is the best way to be a successful trader.

Professional traders are focused on following their trading rules, they don't care if a particular trade will be a loser or a winner, what is important to them is to implement the rules, there is no point of analyzing or build a case about a particular trade because he knows that every trade setup is random and unique, but what he knows is that he has a stable strategy and as long that he follows  the rule religiously he will end up profitable in the long run.

Good luck and happy trading!