Learn Forex Day Trading The Right Way
When you Learn Forex Day Trading you may or may not be investing in the proper method for your personality. As you know, there is a huge amount of information on the web about Forex. It is a task in itself just trying to decide a program that works for you. If we were to spend time looking and researching systems, you may find out that you will never have enough time to research all the systems available.
Since you are reading this article, then I trust you are interested in Forex. I can only say you will be very happy that your read this article, if you follow my rules. After years of Day Trading, I have seen many good traders fall due to lack of organization.
After investing 5 years of my life on Wall Street, working 12 hour days, you would think I would have all the answers correct? I mean, working on Wall Street means you become an amazing guru correct? NOT! The fact is, there are winners and losers on Main Street and Wall Street, I must admit there are more losers on Main Street though.
Working with oneself takes time and often understanding the market is a vast Career with lots of hours that must be invested to see any return. I would like to shed some light on some things I have learned while working on Wall Street or just working on my own. I hope this info can help you to save time and effort that is typically required to understand and learn Forex day trading, the right way.
Each day, I am available in our Forex Room live to help students avoid the trading mistakes that are typical in day trading. I feel this will have a big impact on your learning and get you started to learn forex day trading the right way.
Consider this the, ‘How to get started in Trading Guide’, many of these points I make are essential to help you get on track.
Day Trading can be very rewarding, If You Know How To Trade!
If you take time to read on the Internet you will find many ‘Trading Systems’ that try to tell you that day trading is not an option for a trader. Scalping is another term that they may use to often discourage you from looking at the micro picture. I feel this is very far from the truth. The fact that I would tell someone not to scalp or day trade does not make any sense. I worked along side many young Wall Street traders who made massive amounts of money trading in and out sometimes in minutes and sometimes in seconds. How do you explain this? Fact is many of the systems you find online, are products and courses that are not support in ‘real trading’ but yet they teach?. Now, I have nothing against books or courses, but how many ‘trading systems’ will provide live question and answer sessions as well as live trades to explain their strategies? So can you day trade? Absolutely! Learn how to do it the right way, and you will succeed, force it on yourself and you will fail.
Using And Expert Advisor ( EA’s) Or AKA Robots Is Not Recommended
As a good start to trading you should avoid Expert Advisers or EA’s. These have no place on our trading systems, as I can assure you they are nonsense. I have yet to investigate a trading EA that actually works. Does Wall Street have trading robots? YES! they also pay millions of dollars to develop them. Goldman and Sachs had one trading robot developed for over 500 million USD. I can assure you a EA for $19.99 will not do what Goldman has. Bottom line is, if you want to trade for profits and learn Forex Day Trading stay clear of anything online that I have described.
Some think that trading cannot be automated, however I disagree, I think that if many Wall Street firms use computers to trade for them, then we should not think these do not work. The point here is the Wall Street trading systems are very different than the ones you buy online for $99.00.
Choose Your Trading Method So It Reflects Your Personality
In my trading service, I find that some Members love to learn Forex Day Trading by seeing me live in action, while others like to just follow my swing trades. You must first decide if you have the time to dedicate to this Career, and your style of trading that suits you best. For example, are you the type that does not like to leave your computer when day trading? Do you like to control your positions rather than hold them overnight? Well many traders use this method and I repeat what I said earlier, this is a very legit and profitable Career if done the right way.
Choose your trading method wisely.
You will find when you decide on your method of trading, you will then need to make a a choice on a system. My system of trading can work with any time frame.
There are many different methods of trading systems you can choose from. Indicator based systems to price action, to Gann, to Elliot wave etc…
It took me years to understand the complexities of trading signals, and when to use them, and of course when to not use them. I think using indicators is a very good method of predicting the next swing in the market. To use indicators properly, one must truly understand them properly.
Trading indicators will not work if you think you can use the indicator in every type of market.
Here is a video for you to view, I mention some of my experiences on Wall Street.
Choose Your Trading Mentor
Trading Mentor is someone who is interested in helping you to succeed. I feel a Forex Mentor should be able to show some evidence as to his or her ability to day trade. I provide a third party verified trading systems for your view.
You can see my Pip Performance here.
You mentor should have at least some professional experience in Trading the Markets, after all who runs the trading arena in the World? Would you think Wall Street?
Don’t you think having a Mentor with some Wall Street experience would help? Well, I think so. I am sure there are self taught traders out there who have made it with no professional experience, however I have not seen many.
When I created my Forex Course, I did so, to not only provide a great way for people so see live trading, but I also had a members section created so those who were not able to attend our trading room would be able to learn at their will.
If you are interested in how to learn forex day trading the proper way, then you can see our trading room services.
Important: You will find a special for the Month Of May available for new members, if you decide to join my Forex Trading Room. Whatever you decide, I wish you the best in trading.