It's best to take a long term approach when you begin trading. You're not in this for the quick buck. So take your time and really understand how the market and carve out your niche. And remember to keep your strategy heavily weighed towards trades that have the most upside potential. Yeah, I know it sounds like common sense, but you'd be surprised how many traders neglect this cardinal rule and aim for homeruns.
The goal is to hit as many singles and doubles on a daily basis to support your lifestyle and build your working capital. As you gain more experience and more confidence from your winning single trades, you will begin to recognize the triple and homerun trades. However, you now have the confidence and experience to successfully these big trades in a calm, cool, and collected manner.
External Resources:
Forex Strategy Resources
Forex Trading Information
Tuesday, April 21, 2009
Subscribe to:
Posts (Atom)