Trader's tips: where to get ideas for Forex trading
Sooner or later, almost every beginner trader faces a crisis of the genre, to be more precise, the trade crisis — when the primary fuse, as the first profit, passed, and 5-6 spend hours a day on the study of literature and analysis does not really want to. Here begins the search for more available, but the same effective ideas.
How to start trading Forex?
For over ten years, millions of people around the world with a success earning money through Forex trading. We remind, Forex is an international exchange market where all trade with everyone buying one currency for another and getting profit from the difference. Daily Forex transactions to the amount of 8-9 trillion.
One of the key advantages of Forex trading is its accessibility. Anyone who has a computer with Internet access and five bucks on a map, can start a career as a trader. However, as in any other field, for a sense of newness comes the understanding that good earnings requires time and effort. Of course, Forex leaves room for luck and every day worldwide somewhere somehow newbies is "led" — they were able to earn hundreds or thousands of dollars for one day, one night or even a few hours. But it is rather pleasant, albeit not so rare but still exceptions to the rule.
And the rules are such that for stable earnings on speculative currency trading takes time, experience, knowledge, patience and faith in her powers, despite the possible losses. However, even if you got the primary experience, bought/downloaded the necessary literature, found the right trading strategy and already! earned his first hundred dollars, then sooner or later you will encounter a so-called crisis of the genre. To make it clearer, we describe the standard situation for traders after a month or two independent trade.
So, as soon as a newbie understands that understands how and when to buy one or another currency, then when it is profitable to sell, he gets its first profit. Believing that that would always or almost always, he buys and sells, buys and sells again again. However, not all of its transactions ultimately bring profit, and then the novice trader begins to suffer. Tolerate and wait for a more appropriate time. Sometimes a day, sometimes two, and when the week and month. Often during this time, he realizes that it's worth trying another currency (currency pair), and closes the protracted deal to the remaining funds to open a new one. Such an approach to trade is haphazard and, as a rule, does not bring profit, either brings, but quite small, that trader is fundamentally satisfied.
And here comes the key for beginner first time crisis, or a point of self-determination. Day when you either understand that easily earn good money, or you start to look for an alternative way of working on Forex market. In a few words is the first version of the path is continuous accumulate shopping experience, at least for a few hours a day, in the study of industry literature, tracking news and development of technical and fundamental analysis. But sooner or later there will be a second "bummer" is the moment when, seemingly right strategies no longer work, and the market begins to "dance" is already on other statistical models. But more often than not the trader simply get tired of such an approach.
So let's look at the second-alternate path is for the novice trader that is looking for ideas for trading at Forex market.
Ready-made trading plans
If you are a customer of a solid and large broker and you have to understand that only in this case, the subsequent text can have meaning for you, you must have access to timely intelligence that every day and every hour, make you the leading traders of intelligence, cooperating with your broker. Analytics can be presented in both daily and weekly forecasts and market reviews, and even in the form of ready-made trading plans. You can find it all on the website of the company broker or you can subscribe to the daily newsletter. But of particular interest to us are exactly finished trading plans.
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In fact, it is the instructions that recommend the trader what and when to buy/sell. Despite the fact that finished trading plans make up analysts with years of trading experience, continuously studying the latest trends on the financial markets, it does not mean that each Board or plan will lead to imminent profit. If only it were so easy, then every analyst should have fabulous condition, and novice traders that subscribe to their trading plans, would receive not less money.
No, the foreign exchange market is a living organism, it is dependent on any events which are not in a position to predict even the most seasoned analysts. However, their forecasts and trading plans are based on long-term observations, Commerce and analysis, their work experience and at least save you from sleepless nights, saving years of trade and minimize possible losses, and at most will bring you tangible and stable profit. In fact, analysts have gone all that long and thorny path, which did not begin to pass you. But why not take advantage of their skill?
If you are too busy or do not want to accept trade decision even on the basis of ready-made plans to analysts, why you just don't start copy trades of other, more experienced and successful traders? No, you do not need to have a relative/friend/neighbor who "heard" you every step on the interbank market or sitting next to you with your laptop. For this you only need to use the service System that allows you to copy other transactions (other) traders registered with the service.
How does it work?
By becoming a user of the service System, you get access to the Monitoring System, where traders subscribe to trade you can make. Selecting of a likeable you trader (e.g. based on its profitability, trading volume or experience), you make a subscription to its transactions (buy/sell) and simply copy his actions essentially repeating all over him. If you have chosen the correct trader, then it will bring you a good income. That will receive this trader whose transactions you copy? Subscription fee. In any case, it will be a small amount for you.
Investments in trade another trader
In order to receive Forex money and not study strategy over the years and all kinds of analysis, there is another option that, when all other make of you yet and this financial (portfolio). We are talking about pamm-system. The essence of this service is close to Choosing. Here you will also need to choose in the monitoring of a managing trader and … do not copy to the deal as in the System and invest (invest) in his trade.
According to the results of the trading period managing trader will give you a portion of their profits in proportion to your investment. As a rule, in the pamm monitoring only quite effective and experienced traders who entrust their money to the hundreds and thousands of traders worldwide. You can start with a small investment, to test the trader, his luck, flair and most importantly — profitability. In addition, nobody forbids you to invest in several traders, change them and even work in parallel in Choosing system.
To summarize, we can say with certainty that the Forex market is no longer destiny chosen and profitable work only for highbrow geniuses with an analytical mind. Today Forex is open to one and all, and modern services allow you to earn on it, as the saying goes, even the deeply digging and not sitting on the nights of graphs.