Want To Day Trade Forex Successfully?

WANT TO DAY TRADE FOREX SUCCESSFULLY? First, set out your rules. An Overview So, you want to make big bucks trading the markets? We've heard all the stories of how fortunes were made in the time it takes to say, "where's the keys to my Porsche?" But can it be done? Well - maybe. And you want a piece of the action, yes? And I don't blame you. Trading for a living, for me, is the best occupation there is. No boss, no overheads to speak of, work when you want, anywhere you want, freedom; just you, the computer, and your plan. Plan? What plan? Of course, 'plan'. Anything in life worth doing must have a plan of sorts. Trading is no different. In fact trading without a plan is asking for trouble of the most serious kind, financially speaking. You must have a plan. Read on. The content of this very modest document has been the subject of many books, has been studied in depth by the very best of us, and will be debated for years to come. My aim here is to plant a seed that hopefully will steer you in the right direction thus saving you countless dollars, not to mention heartache and ruin. Before you start to lay your hard-earned money on the line, there are many, MANY, things that need to be taken into consideration. The very first lesson to learn quickly is that the guys and gals who trade the markets for a living, the professionals, are not going to think twice about taking that money from you. They know all the tricks in the book, and a few more to boot. The idea is to act and think like those professionals and eventually become one. The profits will then begin to flow. If you have no idea what you are doing, then you may as well just mail a cheque to those above-mentioned professionals and leave it at that, saving a lot of time. On the other hand, you could do as I did. Learn their tricks. Copy them. In short, study, study some more, then continue studying. As they say, 'knowledge is a powerful thing'. Everything will then fall into place. Where do I start? Trading is very, very easy. Making a consistent profit is not - unless you have the plan we talked about earlier; a master plan. You need to learn, and sustain, some good habits. The primary weapon in your arsenal in fighting your opponents is getting the odds in your favour. Gaining an EDGE. Just like the casinos. Take a look at the house edge in the casino and how small it is. Something like 2.5%, this is enough to make them a fortune over time! It's just the same with trading the forex markets, get yourself an 'edge'. Let's stay with the casino example for a moment. They often have losing days when a punter will win big. But overall, after the fat lady sings, at the end of the day, when all's said and done, and after the cat has been put out, those boys are in the money. And that is because of the 'edge'. Your edge starts here. It's not one item but your whole approach to trading. Sound complicated? Not really, when you break it down into its component parts. We'll do this now with headings and sub-headings. There really is no point in doing this exercise if you only pay lip service to it. You must follow your rules because they will get you into the money, no argument. Rules There's no point in having trading rules if you don't follow them, which very nicely brings us to golden rule number one. FOLLOW YOUR DEFINED RULES RIGIDLY This rule may sound silly but think about it, how often do you break the rules in some other pursuit such as driving, sport, work? Sometimes it can be costly, in forex it can be very expensive account-wise. Your trading rules can be defined as: a) General rules b) Trading rules c) System rules Remember, this is a very short article on the ways that I have tackled the problem of gaining an edge in my trading, and in trying to emulate the professionals. This is by no means the only way, so you will need to address your trading traits in a similar manner to extract those profits from the market that we all aspire to. Let's look at the general rules. Credit:MyP2P