Life is beautiful. Did you see the movie, Beautiful Mind? It was about Professor John Nash who was a pioneer in Game Theory. He was awarded a Nobel Prize. Every moment of your life is beautiful. Develop new passions. Learn new things.
I remember I used to be very fond of playing tennis. The whole day, I would wait when I would enter the tennis court in the evening. In the beginning, I was not a good tennis player. By buying a tennis racket or a golf set, you do not become a good player. This is only the first step. You have to make an effort.
The whole day I would wait when evening would come and I could play tennis. I would do wall practice. So, I would practice and practice. Sometimes, I would play with my coach.
I had an ambition. I had a dream. I wanted to be known as a good tennis player. Winning and losing lies in your mind. If you have seen the movie, The Secret, it explains the secret of success very beautifully.
Becoming a successful forex trader should be your dream. Learn everything you can about forex. Practice and practice! Dont rush.
Your first step should be to digest a good forex trading course. Go through the course again and again. Digest even small points given in the course. Pause and ponder on each line in the course.
You aim should be to master the behavior of the currency markets. You should train yourself for that. Learn Technical Analysis. It is the thing to learn for a successful day trader.
Learn what the lagging indicators and what are the leading indicators. Lagging indicators depend on the past behavior of price action. Leading indicators predict the future likely course of the prices in the market.
Know what is the support and resistance at that point. Develop your perspective about the market. You should understand depth what are SMAs, EMAs, MACD, Bollinger Bands etc and how to interpret price action through them. Understanding use of Pivot Points is must for you to predict whether the currency market is bearish or bullish.
Learn the money management principles. This is one thing that most traders simply skip. Do you know that in the end, it is good money and risk management that can make you a good trader?
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