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Frankly speaking, it is easy to learn the basics, although not so to learn the advanced concepts, of forex trading.
Forex trading education can have a considerable cost to a trader, it can be expensive. Training programs, video tutorials, books and ebooks, seminars, courses, and mentoring of course, tend not to involve a measly amount of your money.
If you’re a trader and you want to get good at trading you need to adapt a mental approach to the game.
As a trader, one should keep in mind that trading is more akin to a marathon than a short sprint. Learn to look at the bigger picture instead of fidgeting and getting bothered with each small turn of the trading environment. Trading is very much like any other business; there are good days and there are bad days. This is normal.
This article is a collection of ideas and thoughts that have come directly from my old note books that we fill with ideas and observations; these are all jotted in our journals on nights when nothing was happening in the market, it beats doodling anyway.
There are generally three things that prove disastrous to new traders who enter the forex market. These things are connected to each other.
Trading, just like life, is basically dependent on how approach it, fast and furious or more laid back. This is certainly true with choosing the time frames for your trading analysis as with every other trading aspect you got to get it right and be comfortable.
A lot of traders avoid the traps of one minute trading and many refuse to tread along the path of one-minute trading for various reasons. Fear, emotion, psychology and connectivity are all issues traders encounter.
Some traders prefer four-hour trading while others are comfortable with shorter or longer chart time frames. Out of these, why is there quite a furor over the one-minute trading strategy? Pros and cons are present in just about all trading approaches and the one minute trading system is no different.
Binary options only have one or two specific outcomes – an all-or-none result wherein the trader loses or wins a specific amount of money based on his investment. For example, if a trading firm offers an eighty one percent return on an investment of one hundred dollars, there are only two possible results for the trade: either there is a win of one hundred eighty dollars, an ‘in the money’ win, or a loss with a return of fifteen dollars, known as an ‘out of money’ loss.