theroguetrader
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I just wanted to make a quick post to all the newbies out there because you are actually very lucky. You have not yet been poisoned with hopes of magical indicators to tell you what to do. This allows you to look at the markets with a fresh set of eyes and I would like to share with you all that you will ever need to know to be a successful trader.
Forex has been my main job for the past 5+ years, I had my ups and downs in the beginning and I wasted A LOT of time looking for 'something better'. It's just human nature and psychology that end up being what makes trading difficult for most people. Trading itself, it turned out, is very simple.
I will list here all you will ever need to learn and you need to trust me,
I speak from experience and I am a teacher of many traders so this is proven fact.
My current favorite hobby is to help people become successful traders.
1. Support/Resistance (Also know as Supply/Demand)
2. Trend Lines (Drawing these is an art)
3. Candlesticks (valuable information in picture format)
4. Risk/Reward (The art of never risking more than you are trying to gain)
5. Money Management (don't be greedy)
These 5 items will make you as much money as you want but only if you allow 1 thing not to get in your way. That thing is of course your very own brain, you will be your worst enemy. Understand that you will NOT win every trade, it is NOT possible and it will NEVER happen. Accept loss as part of your success because with correct Money Management and Risk/Reward loss will not effect you.
Now, this post is not very detailed but if you concentrate on learning these 5 things in depth then you will succeed.
I wish you all the success in the world
(4) - RISK/REWARD - " THE HOLY GRAIL OF TRADING " - !!
ALWAYS aim for a profit 2/3 x your risk = you can be wrong on HALF your trades
& you will still be in PROFIT - " OVER TIME " .... !!