I can give you a few simple answers. How long will it take you is entirely up to you. How much time will you practice, study, practice, study? Up to you.
Can you master forex trading ?….. The truth is, some people can’t. It isn’t a matter of intelligence, it is a matter of personality. If you lack patience and persistence, forget it. Those two traits, in my opinion, are the most valuable.
I am primarily a technical trader. That doesn’t mean I don’t keep an eye on fundamentals.
I am presently short on the Eur/Usd. I entered off a double top and so far the trade is going well. It is now retesting a broken support on the 4 hour chart. That trade coincided with a Bat pattern completion. I intend to stay in the trade for another 50 pips and take off half the trade and let the rest run.
But wait a minute. Tomorrow we have the payrolls. Friday we have GDP and Fed Chair Yellen speaking. Everyone will be parsing her statements to get a feel for when the next rate hike will happen. That will directly affect my trade. NO ONE knows what will happen. I at least have a high probability idea of what will happen technically. What will I do with my trade. I will stay in it, making sure my stop is a bit tighter to preserve gained capital.
The problem I have with fundamentals is; no one really knows what is going to happen until the announcement comes out, or a war breaks out, or Japan gets hit by a Tsunami or the Swiss will put everyone’s panties in a twist. It’s my personality to not trade fundamentals. If I were you, I would first determine what type trading makes you most comfortable and go with that.
How to master trading system and strategy
In order to master any trading system and strategy, you have to stick with it and trade it over and over again for a long period of time. Mastering Forex is just like mastering any other worthwhile activity… it takes time. There are no shortcuts. Below are 3 recommended forex trading systems tomaster…
Best Forex Trading Strategy with Multi TimeFrame Single Trend – You’re about to learn about a Forex strategy that may change forever the way you look at making money from home, it will probably change all your life.
The Relative Strength Index (RSI) is one of the more popular technical analysis tools; it is an oscillator that measures current price strength in relation to previous prices.
High accuracy Sadukey Forex Trading System and Rules for intraday trading – Great profits are possible in the forex market, great returns are achievable if you work hard and place logic and reason above emotion and sensation.
If you’re new to trading, this is the field where you’ll get priceless education and invaluable experience by learning High accuracy Sadukey Forex Trading System and Rules for trend following intraday trading.
Forex Maximum Profits System – Forex Fiji Trend Trading System with Solar Wind Joy and High Low Activator Indicator. This is high profits and high accuracy forex trading system.
The Forex market consistently attracts traders of all skill levels and strategies. This is probably one of the most advanced basic strategies out there. It is also highly adaptable, can be traded on any timeframe, any currency pair, long-term, medium-term, even scalping (although scalping is it’s least suitable use).
To apply this Forex Fiji Trend Trading System with Solar Wind Joy and High Low Activator Indicator we must first be aware of the existence of a trend. Without identifying a trend we would be gambling, and that’s not the purpose of trading forex.
Practice makes perfect. Keep practicing until you become good enough to trade profitably. Practice trading using different techniques: Japanese candlesticks, price-action, Elliot wave, technical indicators, the lot. Try them all. Make lots of mistakes and learn from each of them. Keep a diary and write everything down – with hand.