FOREX Education - getting the right education

FOREX Education - getting the right education for success PART 1

Consider this fact:

Despite the vast amount of Forex education available, the majority of traders still lose.

The reason for this is most of the accepted wisdom does not work.

Here we will look at the exchange and education have a simple system that is free that can make you big consistent profits.

Before you start looking at exchange education itself, to look at the equations need to be a successful currency trading.

Equation for success a

Robust Method + trust + discipline = currency Long-term success.

Now, when you trade you need a method that is simple to understand.

Why?

Because if you want to make money trading you are going to have short-term losses and to discipline to follow your method when they occur.

If you will not have a method at all.

Many currency traders education includes the following systems they do not understand or gurus and they simply can not stick with them and no.

Equation for success 2

Your method should have the following characteristics:

Liquidate losers quickly + Run Profits

Obviously, but today people receive education that exchange learn trade short term, even worse day trade.

We have written about this in our other members and it is a waste of time. You will not win, it will only be expensive education exchange!

Why?

For the time frame is to short and moves are random.

You may have profits, but can not use them in one day and they can never cover your inevitable losses and high transaction costs to be accumulated.

Avoid currency education that teaches short-term trading, unless you like wasting your money

The education should

Most of the education is free and the network.

FOREX education should

There are of course many e-books and courses, but most of them are worthless (just buy one that has real records and the seller is a merchant) and a few of these around.

In part 2 of this article will cover the system can learn what is used by many of the world's top traders and it is simple to apply and understand.

Learn this fact

There is no correlation between how complicated method and how successful it is.

In fact, the opposite is true, more complicated system is more likely to break in the face of brutal ever changing market conditions.

Finally, as the need to understand how your method works (this is easier with a simple system) as it should be trusted to follow with an iron discipline for a possible currency trading success.

Read

The only material we recommend you buy a classic work of traders who have been in a sharp end and here are some good

Market Wizards and New Market Wizards - Jack schwager

Great book!

Full of inspiration, as the top retailers in the world share their wisdom about how they made millions or even billions of trading Forex and other markets

None of Jake Bernstein

It focuses on the importance of discipline and mental attitude key to success.

Trader Vic - Vic Sperandeo

Perhaps my favorite book of all. Packed with common sense from cover to cover from one of really big traders.

They will cost you around $ 50.00 and it is money well spent for the type of Forex education they provide.

System profit

In part 2 of this article, your conversion will continue education when you start looking for a specific method that you can apply for higher profits and foreign exchange currency trading success.