Tips for Forex Traders

I think all of you have seen countless threads and posts with tips for forex traders. Trust me I have no interest in chewing that piece of gum here, but rather want to point out that you should be careful when you read those tips. Authors are often writing based on their experience which may not be suitable for your trading style.

I am not saying that they are bad and should be ignored, but keep an open mind and see if the tips you read are applicable to your own trading style. Not everything you read may be good for you and all this goes back to educating yourself properly before you start to trade. I would not rush the education part.

Thanks Bear!

That’s exactly what led me here…believing I needed to focus on having a much KNOWLEDGE as possible (and in the most cost effective manner) before I started trading.

Weblee

If you haven’t taken the time to educate yourself, how can you expect to make good decisions to maximize your opportunities? Knowledge tells how to get the most out of the information in front of you. My orginal plan to enter the forex, was subscribe to a signal service and that was that. After educating myself just a bit, not even enough to understand much more than the basics, I changed my mine about my original approach to expanding my knowledge so I could trade. From there you keep on trying to gain knowledge, so when information comes your way you can say that’s interesting or are you kidding 500% ROI for the last 10 years get loss and stop wasting my time. You want to make money from the forex. Aquire the knowledge to make good decisions. Knowledge helps you not only make more money; it also helps you lose less

Bear this gum no matter how many times we discuss it is worth the chew. To quote the famous TheLastBear "It’s a tough business out"
Gp

Exactly. I am surprised how many enter trading thinking it is something you can do from home spending 15 minutes entering an order, no knowledge required. They fail to understand that trading may be one of the toughest professions out there.