Day Trading – Learn to Trade Forex
Day trading is like having a forex scalping machine operating for you. The idea is to earn quick profits for you while mostly coming out with a tight zap of profit. Sounds easy? Maybe, but mostly people getting into this sort of trading game are unaware of the pitfalls that lay ahead. 해외선물
If you (or someone) tells you that you can double or triple your forex trading account overnight, you are probably set up for a huge scam. You should learn to avoid these day trading competitions like the plague. The beginning trader should stay away from something as dangerous as that. Get a grasp on the basics first: learning about trading, first and foremost. Once you know your way around the market, then you can start seeking out the scams.
Doesn’t it seem like trading is so simple? You have a means of achieving your forex trading goals. Just stick to the plan and you’ll be good to go. Well, it’s not quite that simple, as we have to look at the statistics. Of the $4 trillion daily turnover of the forex market, only around $1.9 trillion is composed of individuals’ trading accounts.
Only 5% of these daily transactions are handled by big institutional players. What kind of impact do they have on the overall market? It would seem that the big guys really do have an outsized impact.
So, what’s the pull to joining these ‘elite’ traders? Well, there’s money to be made. The statistics are that 95% of new traders are not successful. They may have the best trading systems and the most financially advanced software, but they’re still not making as much money as the 5%. So what’s their secret?
It’s not secret in a sense that the statistics for new traders is not in their favor. But it is also not as complicated as some make it out to be. They lose because they refuse to take a basic step. That step is: educating themselves.
If you are new to trading, then you should be aware of the fact that most successful traders have a strict set of rules that they adhere to. They don’t deviate from them, and to be successful, you need to do the same.
Automated trading systems are best to start with, as there are no emotions involved at all. A trade is only done when all of the rules are met. This is easier than some traders may think as they need to follow a set of rules just to keep from losing money.
Further along that trail is discipline. Since most traders lack the discipline to stick to a set of rules, eventually they fall aside and make bad decisions. Once a trader moves from that state of affairs, their account starts to suffer.
Disciplined traders are the ones who are able to trade consistently without letting their emotions get in the way. Once they have identify good systems and implementing them they are able to be disciplined and stick to the game plan.
These traits are just something you need to realize yourself.