Page 171 - Ultimate Guide to Currency Trading

and any information you can get your hands on to develop the skills it takes to have a well-run FX

trading account.
It takes time to get into currency trading in a way that will allow you to win as often as you

would like. Just as it takes time to learn a new career or gain the skill to be good at a new job, it will
take the same amount of time to get to the point that you can trade currencies with enough skill to

draw a paycheck and therefore call it your job (even if it is your part-time job).
It also takes time for the world's stock markets and the world's FX markets to work through

situations and cycles, and sometimes the best lessons are learned by watching stories and conditions
develop over time. It might take several months for a condition to work its way through the FX

markets. It might take several months for you to notice a trend. When this happens you will step back
and tell yourself, "Oh, now I see how that worked out."

The best way to trade is to trade over time. You might be a scalper, and only want to be in
each trade for less than an hour, or you could be a carry trader and have a goal of being in a trade for

several months or even a year or two. Either way, you will learn best by sticking with the program and
put-ting in the time. Even if you trade for a while and then take time off while learning new skills in a

demo account, you should make it your desire to learn and keep trading. Continuing to trade and
watch the developments of the Forex markets can go a long way in keeping you and your skills

growing and developing, which in turn will go a long way in keeping your account profitable and you in

the FX trading business.

The best learning is done over time. Your mind will pick up the secrets to currency
trading by working at it little by little every day. If you try to spend too much time
ALERT trading at first you will not be giving yourself the time you need to see the Forex trades
and patterns develop.

You will soon feel confident and able to call out a trade when you see it. You will know when it
is the best time to get into a trade in a big way in order to capture the gains it will produce when the

trade moves. You will master the feelings of greed and fear that prevent good trading, and you will be

able to use these skills to close out profitable trades (without waiting for more gain) and you will learn
how to stay out of horrible market-trading days. You will also know when to walk away from your
trading desk when the day was good, and how to blow off steam and enjoy your winnings. Getting up

the skills to do this takes time, study, and placing trades.