Trading Forex for Beginners

Some good trading tips are worth taking into account. Especially in trading forex for beginners, where many false and invalid tips are based on misconceptions.

Successful Forex for Beginners Starts with Good Tips

Most books and manuals on trading forex for beginners focus too much on discipline, risk-reward ratio, and many more tips which only deal with the surface of reality. All forex strategies are good to a certain level, and there is an element of truth to all tips. But most of these tips are wrong in the long run. In reality, it is a good idea to risk more on the average trade, than the total potential reward. And it may or may not be a good idea to add to a losing trade, or even go against the major trend for a little while. All new traders are taught that these things are the actions of losing traders and should be avoided at all costs. But the evidence suggests otherwise. And then there is the issue of trading on the news. Forex news is tough to handle and make sense of, therefore no beginner trader should trade on the news. In fact, when on embarks on a trading mission for the first time, it is best to avoid high frequency trading altogether, and focus on more relaxed trading instead. Many educators press for high frequency trading and discipline, as if trying to produce trading drones rather than self-relying and independently thinking human traders. Even the idea of too much discipline and rigid rules is not compatible with the nature of the markets. And should therefore be, at least in part, reconsidered.

 

Profitable Forex for Beginners is still Possible

Profitable forex for beginners is always possible, as long as one learns to question things, and deviate away from rigid rules, and extreme discipline. Discipline tends to produce incompetent traders, and even when these traders are successful, their profitability is too poor to justify trading. When one begins to trade the markets, they want to make serious money, justifying the risks taken and time devoted. So in reality one has to be greedy to succeed, but at the same time not have the urgency to trade there and then, just for the sake of calling themselves a full time trader. All seasoned traders may use the same or similar market analysis methods, the same forex calculator and intermarket analysis. And yet each one of them deviates from the other in some other way. And usually those that are really successful do not teach to others, they simply do it for themselves. The ones who never become profitable are traders relying too much on education, mentors and effortless teaching. If that were the way to making millions, they would all be retired millionaires by now, and the market would have become ultra-efficient by traders following these methods. So that there would be no market movement left to trade.