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     EVOLUTION OF A TRADER

Dear Readers,

From our interactions with some of the people trying our forex trading signals we get the impression that a good proportion of the people are relatively new to Forex Trading. We would like to say that it takes TIME to learn to trade and to start making money in the market. It is NOT easy, contrary to what most brokerage and online trading sites would want us to believe. If it helps anyone, we want to share the following:

EVOLUTION OF A TRADER

Every Trader goes through the following stages of evolution:
1) Basic market reading - is the market going up or down? Note, that at this stage, very few people think of the third possibility.....that the market could be going sideways
2) Setting targets for the envisaged move - During this stage the person is happy if the market moves in the envisaged direction and even if the market comes just close to the target but misses it
3) Getting to know all the scores and scores of Technical Indicators and tools, thinking that knowing the tools is the secret of successful trading.

During this period, the person is focussed on "being right", the mentality is "me against the market", or even, "my forecast is better than yours". The person trades during this period, experiencing both profits and losses, but consistent profits elude her. She is happy every time there is a profit, no matter if it be small and tends to forget about the losses

Slowly, the Trader moves onto the next plane of evolution, wherein:
1) She starts to think about various possible scenarios....and starts to think in terms of "If-Then-Else"
2) She starts to think in terms of Probability....what are the chances of the IF or the THEN or the ELSE happening
3) Starts to think in terms of Risk-Reward

Having mastered this higher plane, the Trader can then move on to the next plane
1) Thinking in terms of strategy
2) Managing multiple positions

All of this takes time, TWO years at the minimum. During this period, one should trade as small as one can, alternating one month of Real trades with one month of Paper trades and so on.

Learning to trade FX is not the same as learning to ride a bicycle or learning how to swim. Please think about it.

If you have any queries, comments, problems or suggestions, please feel free to write/ call at our e-mail and phone numbers below.

And, please take a look at our forex trading signals by clicking on "FX Thoughts for the Day"



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DISCLAIMER
These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.


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