Most Forex market traders are self-taught/self/trained. The traders who win are those that are capable of executing their trading plans with discipline, and they are either comfortable with the volatility of the currency markets, or they have trained themselves to be able to deal with it.
The theory is, if you can identify volatile movements, even if they are small, and execute trades quickly enough, buying on the lows and selling at higher prices, you stand to make big profits.
When we were conducting research for this post, we were pleasantly surprised by a veteran trader who told us that he was a profitable trader from day one. It turns out he was telling the truth.
Being surprised, we asked him what his profession was before he became a professional trader and trading coach. His answer added to our surprise, when he said- “I was a professional poker player and the runner up in the World Poker Championship.”
Therein lies his success as a Forex trader, because as a poker player he was/is accustomed to taking calculated risks. The secret to trading his style was to take calculated risks in his Forex trading.
For example, if you have identified a trade, and you have placed a trade, don’t place your stops too close to your entry price, because you could get/are likely to get, stopped out.
If you want to win big, weigh the risks versus the rewards, and like the successful poker player, bet big when the odds are in your favor.
What Is Forex & How To Invest In It – https://www.mastersofmoney.com/whatisforexandhowtoinvestinit/
Risk disclosure: *All investments involve risk. Before making any financial or investment decisions, we highly advise that you seek the advice of a properly licensed and trained investment professional.
