Translated from Russian by Google Translate
31 Август 2009

Can Forex ensure financial independence?

When I had only started trading on the forex market, I always did not give the rest a few questions. Can I make a profit on the currency market? Stop me if this profit, in order to secure a comfortable existence? And whether it is worth trading the forex market and rely on this kind of earnings as a source of income?


In principle, these questions now haunt me. It has been several years since I trade the currency market. I have formed their own idea about the vision of the market, I have tried and tested strategies and tactics of behavior, but many of the stereotypes that were laid by me based his presentation on the foreign exchange market remained until now. It was after this time, I would like to rethink some things and answer the key questions that haunt many traders, both novice and professionals held.

Question number 1: Is the income received as a result of trade in the forex in order to ensure a carefree existence?

This question is quite broad and covers a lot of concepts. Ask yourself another question: what is needed in order to work in any company, grow up to middle management, with a good salary and opportunities? First of all, I think it needs some time to work at this company establish itself on the positive side, Owe acquire knowledge and skills to finally know the work from the inside, that is, spend some quality time staff members.

The same can be said about the currency market forex. If you think that after a few months you will have the same state as George Soros, it will be your first mistake. Currency market - is the same work as everyone else. And here, in order to receive feedback, you need to spend a lot of strength and patience in order to get to a decent standard, as intellectual training, and technical podkovannosti.

Here I show you some opinions which, I believe, should contribute to the successful establishment of each trader. So:

• Successful start trading, you have to adjust themselves so that the coming, at least six months, you dedicate themselves exclusively to research. Here I have in mind that you must master the basic theoretical position. Today, almost all dealing centers offer training services to traders + practical training (seminars, trainings) + + virtual classes online support + communication in discussion forums. All this you have to spend more quality. Remember, investing in quality education today, you will return tomorrow.

• You must change your character. The fact that the market for forex - a place where constantly raging emotions. Therefore, one of the most common mistakes novice trader is «cap» a «I». Many traders fail precisely because they are affected by other market participants. In this regard, the main thing you should do - is to develop its own stereotype of behavior. And it should not be simply a uniform adherence to his convictions. Ideally, the psychology of currency dealing to be constructed in such a way that skillfully combine their own beliefs, the mood of the market and basic intuition.

• You must develop your own trading strategy. That is their strategy, inherent in your trading style and your vision of the market. Of course, to create a working and reliable trading system can take a long time, but the result of your effort in the proper approach will pay for itself fairly quickly.

Question number 2: Who is not recommended to play on Forex?

In my circle there are a lot of friends who have tried their strength in the currency market, hoping to quickly enrich themselves. Actually, I do not wish to address the subject of expediency of their trade. Case in another. These people, heeding the numerous slogans and calls for the ease and availability of stock trading, forex played on borrowed money. And many of them lost everything they had. In this regard, I developed a few rules regarding conduct in these situations:

• Be able to restrain yourself when you see that price is not in your favor, but you all are waiting in the hope that the price will unfold. There are no miracles, and many traders suffer losses. If I was wrong, but now all would have walked millionaires. Therefore, everything that you need to do is develop stereotypical behavior. You should be able to limit their losses, as it were, with no shame. It is this quality should be inherent to every successful trader.

• As mentioned above, do not play on borrowed funds. Forex market can be compared with the drug, which carries you each time more and more. It would be a shame not there, but better to lose your own money than to become dependent on the lender.

As a result, the main idea of this issue - is the ability to control themselves and their emotions, not to fall into passion, be able to firmly and systematically to follow the chosen strategy. This applies in the context of the question is where you need to limit their losses.

Question number 3: Is it easy to earn the foreign exchange market, as it seems

For quite a long time in the Internet, the means of outdoor advertising and the media are being actively campaigning and cultivating the image of stock trading. Numerous slogans adorn the ad units promise a lot of money in the short term. But is it really? To get started is to look at the statistics.

If you believe this same statistics, only 5% of traders are in the currency market and continue to trade and profit, the remaining 95% can not cope with the trade, losing their money and go with forex. If you look at the activities of brokers and dealing centers inside, we can see that most of their profit comes from new and inexperienced clients who lose their initial capital. Consequently, this category of traders is the most attractive for dealing centers.

And so is the conclusion: if you want to trade the forex market and do not want to «fill the cones» from their mistakes and to feed their money Directorate dealing centers and brokers, then walk up to trade responsibly. Develop their individual methods of trade, to hone their skills on a virtual trading account. Even in this case you are still not fully insure themselves against the possibility of obtaining damages, but also significantly reduce the likelihood of receiving them. Especially at first.