I know everyone who wants to succeed in forex trading and make extra money
online thinks that they will only be successful if they have something
special. They think they need the 'holy grail' of forex trading.
Well, I hate to repeat this for so many times when people asked whether I
have a forex trading guide that can win 100% of the time. My answer here
again will be no, I do not have it and I do not think anyone has it.
If you want to be a successful trader, you don't really have to go until
such extends to search for the strategy or system. All you need is a mentor
or coach who can give you free forex trading advice. On the internet, you
can find plenty of them and of course this blog here is one of them.
A common mistake made by many beginners is that they think they can buy
success in forex trading by buying a trading system or strategy for $67,
$97, $147 etc. Even if there is some forex trading advice sold on the
internet, you have to judge whether it's really worth the money and not some
If at any time you will need to pay for those forex trading advice, how do
you decide if it's good? Some forex tips here.. Look for a real time track
record and a money back guarantee. If you don't get both, then don't buy.
This involves your hard earned cash, so you should do some research on the
products that you are interested in.
You can find plenty of stuffs and education related to forex trading on the
internet and they are free. Here are some of the topics that you may want to
look up and study more on them.
1. Technical Analysis - You can find information on chart formations,
candlesticks patterns, fibonacci numbers, support and resistance and many
more that are used in many forex trading strategies. These mentioned
technical stuffs are very important if you are a chartist or technical
trader, and can be combined to become a powerful forex trading system.
2. Technical Forex Indicators - Most of the traders will trade using their
favorite technical indicators and you should too have some in your trading
system. However, do not flood your charts with lots of indicators because
large quantity of them will only give you more restrictions to your trading.
When you draw your charts with trendlines, chart formations etc, you will
also need some timing indicators which include Stochastic, RSI, MAs, MACD
etc. There are many more besides those that I mentioned, but in general,
they are good enough for entering the forex market.