Forex Trading Is Alot Quicker And Easier To Learn With A Forex Coach

In order to be a profitable Forex trader, quality training and education is needed. Forex trading is not different than any other line of work out there. There are various topics that an aspiring trader must learn in order to achieve success. If one depends on luck as a strategy to succeed, he or she is destined to fail. If one desires to learn how to successfully trade Forex than it is a fact that anyone can.

A live, personal Forex coach is the most effective and the quickest way to learn how to trade currencies successfully. The ability to learn not only in a theoretical manner but in an actual live setting is proved to be successful once and again.

The most effective way to master the art of trading is to have a professional mentor at your side, observing, correcting and guiding you until excellence is achieved. Theoretically, one can learn all that he needs to know about Forex trading by himself; however in order to trade successfully it is necessary to have gain specific understanding, the capacity to draw actionable plans and the discipline to follow up on your plans. This is where most traders have some difficulties.

A trading coach is the same as an athletic trainer that continues to coach an athlete to carry out a particular workout or routine until it is done in a perfect manner. Although the program may possibly not be that complex, not having a mentor overlooking the sportsman’s back, observing his every last move, will probably result in the athlete failing to execute the instructions completely and accurately. Isn’t Forex training similar?

Foreign exchange traders without proper Forex coaching and inclusive understanding of the Forex market are traders that are likely to depend on their emotions and erroneous understanding of the trading method to be performed and fail in the execution. It takes place again and again. A trading coach is essential in the growth and development of a profitable trader.

No matter how many “systems” a Forex trader puts into his arsenal, nothing comes even remotely close to learning and being personally guided by an experienced and successful currency trader.

Although any kind of education is always helpful a big challenge that traders face is how to put all of this knowledge into practice and how to overcome and avoid trading ‘traps’ or unexpected events. This is where a live, experienced Forex coach gives any trader a great advantage. This firsthand knowledge and experience will save any trader loads of time and money.

Of course an individual’s Forex success is not all up to the Forex coach. The coach is there as a valuable tool in the hands of the trader that seeks quality Forex knowledge. Working with a Forex coach at one’s side is the fastest and most efficient way to reach Forex success but the desire and determination has to come from the seeking trader, there is simply no other way.

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Learning Forex Trading – FAQ About Forex Trade Signals

Forex trading is an investment strategy with high probability. To figure out more, we’ve put together some typical questions that people ask when trying to enter the world of Forex Trading and Forex Trade Signals.

## What is Forex Trading?

FOREX means the “Foreign Exchange Market”. It’s the biggest market on the planet, and about three trillion dollars passes thorugh it every day. It was setup so that traders and investors could trade on the ups and downs of currency around the world. When these changes take place, they get measured by comparing one currency’s value to another one.

Forex trading chooses pairs of currencies, then measures the gain or loss of one currency against the other.

## What Are the Benefits of Trading Forex?

Here’s a few points which serve as good reasons to enter Forex via managed forex trading:

– a daily volume of three trillion – sixty times bigger than the NYSE – 4 times bigger than the American futures market – great liquidity – pros can’t dominate the whole thing – there aren’t any middlemen – transaction costs aren’t as high – in the last three years the volume has jumped 57%

## What are Forex Trade Signals?

Forex Trade Signals are measured assistor’s that tell you when to invest and when to divest a pair of world currencies. Trades can last for longer (a few weeks) or even just a few days, and forex signals that are serving you right will guide you on the duration.

## How Do You Know What the Trends Are?

This isn’t an extremely fast-moving market like the typical stock exchange. Let me give you an example — if the Federal Reserve makes some policies that drive down world demand for the US dollar, that buoys other currencies for the next little bit. Interest rates and the other general economic indicators don’t change on a day-to-day basis (ie unemployment numbers and import/export numbers are released monthly) so you can invest based on long-term trends without a hectic amount of risk.

## Do I Need a Minimum Amount of Money to Enter?

The great thing about trading in the Forex markets is that you can start with an account of only a few thousand dollars. This is called a mini contract. Often a minimum recommended account size is $10,000. The initial risk is only 2.5% to 3%, so for a $10,000 mini contract this means that your risk is only around $250 to $300.

Obviously, if you’re going to invest, you want to deal with a service that’s been around and has a great record of helping investors. Never rush into things without a lot of research and checking (and double checking). Don’t read excited statements — go for the people who are sober, serious, and realistic, not playing on your greed. You’ll grow your investments with a lot more security that way.

Art Palmer’s Forex Trade Signals have been providing investors with smart, sober advice for years. To see if his Forex strategy might be the right fit for you, visit PalmerForex.com.

The Six Steps To Follow When Trading Forex

Learning forex? Here are six golden rules to follow before you start trading for real. Drill this carefully in your head before blowing your first live account.

Keep it simple

Too much information on your screen can prove confusing.

Platforms

Not all trading platforms are created equal. Choose a platform that is proven and tested – don’t fall for an inferior trading platform because it “looks” great.
Set daily limits and follow them – Many traders look for the big score in one day. Trading should not be about changing your life overnight, but it can change your life if you create a realistic daily income and even a daily loss limit for yourself and stop trading for the day once it is reached. Too often, people lose out on profits they had during the day because they get greedy. Stay focused and be disciplined, not greedy.

Lock in your profit quickly

The profit any trader seeks comes from the fluctuations in the currency exchange market. These changes occur every second – if you wait for a huge profit you can lose whatever gains you have made in the blink of an eye. After you make an opening trade, decide upon a small profit level and set a limit order to close the position. Since most Forex providers do not charge a commission, you can make as many trades as you want until your target for the day has been reached.

Be Realistic

Do not set yourself unrealistic targets and do not have crazy expectations. Trading, as much as it can be scientific through technical analyses, is not an exact science – there are other factors that are at play. Setting unattainable targets will lead to frustration and failure when your targets are not met.
Read – It is very important in trading international currencies to know as much as you can about the market. Knowing that the PPI of a country is low is not enough, how that relates to the rest of the world is important too. For example, Producer Prices in one country affect Consumer Prices in another – if the unemployment rate is higher then people buy less goods – which can lead to a lower valued currency.

Trade with your head, not over it

If you are a beginner, make sure you do not trade more than you can afford to lose. Emotions can be detrimental to keeping level trading head. People who cannot afford to lose the money they are trading tend to lose sight of their strategy when the trades are not going their way. This only leads to bigger losses. Create a plan and follow it – no matter what.

The old adage

It is written on every brokerage advertisement and it is true – past performance does not guarantee future results. What happened yesterday might not happen today even if the circumstances are the same. Each day brings something new – do not let your guard down and do not deviate from your plan – even if you think it could make you more money, 9 out of 10 times you will lose.

Why Demo Forex Trading is Important in Forex

Demo Forex trading is a practice account in which everything is real trading except the money.  You have a pretend balance that goes up and down with winning and losing trades exactly the way a real account does.  This is an excellent way to see if you would profit in real trading.  I challenge all new and old Forex traders that don’t make money to trade with a demo account for 3 months and see if you make a profit.  If at the end of three months you are not profitable you are not ready to trade with real money.

Demo Forex trading is free with many brokers and the trading is done in real time and you cannot tell the difference between demo and live accounts.  I use demo accounts to test new forex trading strategies and to see if I can make adjustments to my trading.  Why risk real money if you are just going to lose it?  If you are not 100% certain that your strategy works and you are disciplined enough to carry it out than you are just gambling and that is foolish. Anyone that is successful at anything in life spends time training, learning and perfecting their skills.  Professional athletes don’t just go straight to the top they have to move up through the ranks and that takes years of practice The same concept is true in forex trading.

Using a demo forex trading account also helps you become familiar with a broker and trading platform before you jump in with real money.  You will want to know the ins and outs of the broker before you begin.  It is important to know how their stop losses work and about their spreads.  Demo trading teaches you how all that works with each broker.  When trading with real money you had better know how to make trades and what button does what.  The time to learn is with a demo account so you can adjust and learn and the mistakes you make will not be costly ones.  I find that it takes me a couple of weeks trading to learn a new platform, give yourself time to become familiar with the platform.

So take the time and learn with a demo forex trading account and don’t blow a real account.  Don’t think that you are a superstar and that you will defy God given laws that say a person must train to be successful.  If you think like that than you have already failed.  If you learn to trade the right way by training and work using a demo account, than in the end you will reap huge rewards.

Author : Casey Stubbs