Beginner Forex Trading
Have you ever felt like the guy or girl who cannot seem to get anything right? Literally, nothing right! I most definitely have. I used to play cricket back in high school, and I loved it! It was such a thrill representing my high school, and better yet, doing it with my closest friends!
Although my friends and I had achieved several things on the field and won some crucial games, there was that ONE school we couldn’t beat!
Head and shoulders (H&S) refers to a popular technical analysis pattern used to trade market reversals.
A classic head and shoulders indicates the probable end of an uptrend proceeded by a downtrend. Inverse head and shoulders also occur in markets, and these suggest that a downtrend should come to an end followed by an uptrend.
As we pointed out in 5 Reasons Why Newbie Traders Should Demo Trade, there are many pros to starting your Forex career in the demo trading pits. However, some negative habits and thought processes may carry through when you begin trading real money.
Whenever I get the chance to play video games, I am thrilled. I wasn’t like most kids who had a console to play online and better their skills, whether that be in playing FIFA or Call of Duty – whatever the game was.
I wasn’t any good initially, to the point where all my friends came over to the house for a sleepover, and we ended up playing FIFA (this was my first time in several YEARS)!
Forex Trading? Stock trading? Indices? What’s the difference?
Do they make you money or not? That is the question you should be asking. Whether you’re a forex trader, a stock trader, or a dedicated indices trader, you need to have a green bottom line. I’m writing an article on these different types of trading because recently there’s been a spike in volume in indices, so more people, naturally, are trading them. Should you?
Many people who are drawn into the allure of the trading world jump straight into the deep end and put their hard-earned money at risk.
If you think about this logically, it doesn’t make much sense. Would you perform heart surgery without any knowledge or practice?
At the beginning of our journey as Forex traders, we cannot focus on every aspect of our trading – From risk management, money management, psychology, and our individual perspectives on the market.
Granted, it is tough to focus on every aspect of trading initially, or ever for that matter.
“One of the biggest reasons why I struggled with trading for so long was because I valued other people’s opinions over my own. When you respect others so greatly, it can be challenging to trust yourself when there’s conflict. Believe in yourself. You got this!”