If you want to be a consistent winner in the Forex market then you must follow this advice. It is time tested and one of the few guarantees left in the Forex trading world.
Have a reason for the getting in the trade in the first place You would be surprised at how many forex traders jump in on a trade just because they re anxious to make a move or because "i just felt right." It may sound pretty crazy and I imagine that few traders would admit that they do this but the truth is that emotions and human nature take over for most traders and sadly, that is why so many forex traders lose their trading capital so fast. So, what can be done about this? The answer is really quite simple:
Eliminate emotions from trading. OK, so how can emotions be eliminated from currency trading? The simple answer is confidence is your trading system. Here is the clearest way to become confident in your trading system:
1. Know how to use technical analysis and what indicators are the most useful. I have written extensively in the past on the 200 day moving average and how effective it is. Another useful indicator is the Relative Strength Indicator (RSI).
2. You must have reliable and proven Forex trading software. If you are getting good trading signals on a consistent basis then you will be very confident in your trading system.
I have included a link to a review site for the three best Forex trading signal software programs. Good trading ahead.
Source: http://www.articlealley.com/article_1297312_15.html
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