I wanted to talk to you about what makes up a successful forex trader. I've been doing this for over a few years now and it's alarming how I've changed over that time and became this very good trader. The problem most people face is the fact that they just don't have that trading instinct that really can help them in the beginning. The good news though, is that we are all capable of learning it. That's why I'm going to share a little of my experiences with you.
You got to start watching the news because there is so much valuable and free information available there. The information isn't targeted for a successful forex trader, but it is the same information that will affect the market and that makes it of value to you. Pay particular attention to anything that will have an affect on the economy. Typically anything related to GDP growth, unemployment rates, consumer spending, etc will all have an affect on the price of currency. Typically if the news is good for the economy, it is good for the price of currency. If it is bad for the economy, than it is bad for the price of currency.
You're going to have to develop a daily strategy and routine. It's just something you have to do. Most people just go one day at a time. Each day is a new day with new tasks and that isn't really going to help you. You need a routine because you can focus on the tasks that are going to actually make you money.
Street Smart Forex is a new way of trading in the foreign exchange market. Typically people have been taught to just do tricky analysis and other things, but this is designed to give a street smart edge to your trading.
Learn more at Street Smart Forex.
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