Although I attended training/mentorship in Trend Trading before I attended seminars on FX Trading – this blog is incredibly accurate. I 100% concur with Number 1-4. Number 5 gives an example which many traders would think is a good return. Trend Trading produces greater returns than most. I expect 500+ pips gain in that time frame with a winning trade. Great article. Well written and precise.
So last week I attended an Investment seminar entitled “Learn to Trade: How to be a Forex Trader”. It was interesting but I realise that this type of Investment may not be for me. However, I did pick up key concepts at the Seminar and would like to share it with you.
- In Forex Trading there is something called the Trading Triangle. This includes Discipline, Strategy and Risk Management
It requires discipline to trade effectively. The discipline to pick a trading time and stick to it. The most popular trading time is the European session from 6am to 10am.
The next trading times are:
- The American Session: 12pm to 4pm
- The Asian Session: 7pm onwards
I also learnt the best amount to start with is £2000 to £3000.
2. The next aspect is Risk Management. It is important to keep risks low and have a calculated trading size. The secret to…
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