Author: Syadav | Posted: 09-09-2007
Every Beginner in any field has to learn some basics skill,you cannot expect to become a specialist in any profession, if you do not hold the basic skills on which the strength of the subject stand.So in order to have a strong and firm foundation ,our other Forex Traders Arnold and Jack started to consult some of their Forex Trader Mentor to get Forex Trading Guide or Currency Trading Guide.
Arnold had visited his friend and when he sat down on the comfortable sofa kept in the corner of the Tarding room his friend made for himself.He saw the well kept room with all the computers called Trading Terminals or Trading Stations and he saw a shelf full of Forex Trading books,books on Trading systems, Forex Trading course,Fibonacci trading method etc.
When he asked his friend to lend him a book to Start Forex Trading, he handed him a copy of SECRETS OF A SUCCESSFUL TRADER.Arnold thanked him and set home to read it
Mike went to a book shop and found a title called THE SUBTLE TRAP OF TRADING.
They came to aware that a sucessful trader to should learn to have the following skills
Patience
You will wonder if you are told the first basic skill is to learn to have patience, not little ,a huge amount of patience.
Why do you require it?
Well mind you the act of trading is not a piece of cake to cut and eat,rather you will confront various situation where you are prone or exposed to stress and strain,Decision blindness,confusion and what not!!
So in order to over come them the Trader whether he or She may be a Beginner Forex Trader or a Beginner Stock Trader he should have loads of patience.Meditation is the answer.
Greed
The Beginner Forex Trader as our Trader in Stock Market need to understand and not suprised to find that the Greed makes a trader Unsuccesful.
what !!What i hear?
How does greed affect a Forex Trader beginner?
Good Question! Well some Fx Trader will have profit when they put an order, so they do not try to wait for some time to gain more profit, they want to have that lttle initial profit to fore go huge profit ,if they had waited longer, since the situation is amicable for waiting.
There is one more Situation whare a Forex Trader beginner, a beginer as he is will see a huge profit on his terminal and even after the situation turns against him ,he keeps on hoping to expect the market to give him more profit,but to his surprise ,the market turns against him and the profit he had in the initial phase is completly eroded and he is back to zero or some loss!!
Well our traders are learning to take their professin seriously and want to build a storng foundation
So if you wish to be the same Follow our Wise Traders at http://trade-forex-online.blogspot.com
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