Life is beautiful. Did you see the movie, Beautiful Mind? It was about Professor John Nash who was a pioneer in Game Theory. He was awarded a Nobel Prize. Every moment of your life is beautiful. Develop new passions. Learn new things.
I remember I used to be very fond of playing tennis. The whole day, I would wait when I would enter the tennis court in the evening. In the beginning, I was not a good tennis player. By buying a tennis racket or a golf set, you do not become a good player. This is only the first step. You have to make an effort.
So, I would do wall practice and practice and practice. In the beginning my ball control was very poor. My service was so poor that I would be ashamed to play with good players.
I had an ambition. I had a dream. I wanted to be known as a good tennis player. Winning and losing lies in your mind. If you have seen the movie, The Secret, it explains the secret of success very beautifully.
Becoming a successful forex trader should be your dream. Learn everything you can about forex. Practice and practice! Dont rush.
Your first step should be to digest a good forex trading course. Go through the course again and again. Digest even small points given in the course. Pause and ponder on each line in the course.
Your aim should be to master the currency markets. You should become an expert in predicting and interpreting price movements that drive the currencies in the short as well as long term. You must learn Technical Analysis.
You should be the master of using indicators in your trading. Learn what type of indicators is lagging and what type of indicators is leading.
Grasp how support and resistance works. You should have a pretty good knowledge about EMAs, SMAs, MACD, Bollinger Bands, ADX, etc. Pivot Points are used by many successful traders to determine entry and exit in the market. Understand the use of Pivot Points.
Many traders dont give much importance to money management principles. Money management is the most important thing for a successful trader to know and understand. Never ever put more than 1% of your equity on risk in a single trade.
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