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.
NOTE
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.
How Do I Become a Good and Prifitable Forex Trader
Foreign Exchange Currency Trading & Investment Strategy – Forex Z 20 System for Successful and Highly Profitable Forex Trader
Forex and Crypto “MORNING TRADE” Trading Strategy for Advanced Traders
High Accuracy Volty Channel Stop RSI Trading Strategy and How to Win Consistently in Forex Trading
High Probability Trading: The 10 Pips Forex Trading Strategy
Best Forex & Stocks Trading Strategy with Dolly-Graphics System
Forex Bill Williams Market Facilitation Index (BW MFI) Multi Trend Trading System and Strategy
Highly Profitable Renko Street Trading System
Forex Magic Breakout EMA CCI Trading – Maximize Your Profits and Achieve Exponential Earnings
Forex Breakout Trading Strategy with CCI and ADX
Hi, trading in Forex is risking. Try first with a demo account. Always invest what you can afford to loose. Below is daily technical analysis for currency pairs, commodities and indices for your review.
The simple answer is to gain experience. Only through experience can you master a trading strategy. And that usually is the problem.
In my experience running a signals service and talking to a lot of at-home traders, most traders never stick with anything long enough to get any real experience trading it. Once they get a few losing trades, they move on to something else and have to start the whole process of gaining experience all over again.
In order to master any trading 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.
The easiest way would be to use a signals service like Forex Investing Live. Signals come out at the same time every day and only take about 5–10 minutes to trade. This starts the process of getting into the habit of trading systematically day after day.
On day 50, subscribers get access to a trading strategy they can learn to trade on their own. It also trades at the same times as the signals. So, since they are in the habit of trading at that time of day already by using the signals… they only need to spend a few more minutes a day to learn how to trade on their own.
Over time, the trader will master the trading technique.
As far as fundamental analysis is concerned, I don’t use any personally. I am a technical trader. I trade what I see on the charts… not what I think is going to happen based on something happening in the world.
I know a lot of those “talking heads” that seem to know WHY the market moved after the fact. But when it comes to making real trading decisions… they trade what they see on the charts.
So, if you are inexperienced, you need to gain experience with ONE trading style or strategy. No jumping around.