0nline Forex Business is a very lucrative way of making money as they say, just like any other business.But listen to this fact before you get everything mixed up,Online Fx is a kind of business that can change your status depending on the overall outcome.The Outcome i am referring to here could either be positive or negative.While it is a good way to get yourself empowered financially it could also be the very way that could lead one to the grave of poverty,i think you are hearing from an authority who had seen it all and that's the BASIC.
Now i know you have got a lot of question on your mind right now and one of them could be DOES
THIS BUSINESS REALLY WORKS?If Thats what is on your mind i think i guess right.And the answer is a capital YES.As long as there would be chat movement up and down,Forex business would continue to exist and thrive. That is the most honest and reliable answer you can always rely on.Then next question could be why do people fail in this business?The answer to this question is quite complicated but yet simple its embedded in the answer that had been the solution to most complicated problems in the universe and the answer is found in the book i treasured most THE BIBLE.Forget that now,This is not a religion talk i am just trying to excerpt a word and the word is "YOU SHALL KNOW THE TRUTH AND THE TRUTH SHALL SET YOU FREE".I need to make you know this was a sentence that kept going when the journey was tough and rough.My thought was if i am still failing in this business it means i have not gotten the fact about the business and until i do just that i would continue to wallow in the mud.And i began my search for the golden QUEST.HOW DO I BECOME SUCCESSFUL IN THIS BUSINESS?
If there is anything i would want you to always remember,its that,Online forex trading is like a normal business and should not be taking for something lesser than that it is not a get RICH -QUICK-SCHEME.I must tell you folk,forex business involve three things,they are;hard work, hard work and hard work.Apart from the fact that you would need to acquire the skills for you to succeed,make your own personal research,test your trading system to verify whether they can do what they claim to do ,this alone might take you more than six[6] months until you do this don't think about committing your money into this business.Another important reality is;FOREX BUSINESS IS NOT MEANT FOR EVERYBODY.Therefore,forex is not a get-rich-quick syndrome so get that off your mind and lets get to do the real thing which is acquiring the needed skills from a sound teacher who is also a trader and not just an instructor.
For you to become the profitable trader you 've always dreamt of,you need to ensure this ten[10] forex commandments which are;
- Acquire the basic necessary skills from a teacher who is also trader
- Build up yourself,this involve constant updating; treating every information that comes your way as if you have never seen them before even when you are quite sure you know its content.
- Choose the right broker
- You must have the right mindset to accept loss;loosing is part of the business treat it the way you treat your profit.
- You must also have mental fitness to bear the profit,do not be in a rush to get out of the trade
- You must have a goal,a trading plan and a trading system;this include the currency pair you want to be trading,the amount of loss and profit you re ready to accept,the trading session you want to be trading,are you a technical analysis trader or a fundamental analysis trader?
- There is no point having a trading plan you wont follow so please follow your trading plans
- You must recognize your weaknesses,accept them,correct them and keep moving
- You must have a trading journal where you keep the inventory of what happens daily in your trade,not also forgetting the importance of strict money management.
- You must have a mentor in this business who had gone through what you are experiencing
If you 've failed in this business or you re still experiencing some set back,it must ve been as a result of disobeying not just one of this commandments, meaning there is always a chance for amendments.
However,if you 've been a victim of loss in this business,and you still have a feeling that this business is meant for you,then never give up,its time to get up and win.
you can please send your comments and contribution to my e-mail; i_oluwasegun@yahoo.com
To Your Success.
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