I gotta tell you, forex is no easy business.
There are a lot of traders out there who made a mistake of thinking that forex is easy just because they saw on TV and read stories about trading on the internet. But all of those stories are just the pretty pictures which are designed for making forex seem easy and make new traders lose their money.
Forex is not an easy business. In order to be successful you have to know a lot and never stop learning, otherwise the losses that you can endure are going to be overwhelming and the gains are not going to be sufficient enough in order to keep you afloat.
In order for forex trading to be easy for you, you as trader have to possess several qualities that will help you along the way. Without these qualities it is possible that you are not going to be able to stay in the business at all.
First of all, you have to have trader’s vision. You are never going to be able to be successful without it. The good thing about it is that one can develop it over a certain span of time. That is why I hardly encourage you to use you demo account in the beginning. Yes, you are not going to see any real results but at least you are going to develop the sense of feeling of the market and forex trading.
Second you have to develop a thirst for knowledge. Lack of thereof is your most evil enemy. You have to know your filed perfectly and always keep learning new things in order for trading process to be as light and easy as it possibly can.
You also have to be calm and quiet. Hotheads are not going to find success in this business. Rapid and snap decisions and judgements are to be left outside of your trading space. There is nothing worse for a trader than making a snap judgement about an asset only to lend yourself in losses.
In order to be successful you have to know a lot and never stop learning, otherwise the losses that you can endure are going to be overwhelming and the gains are not going to be sufficient enough in order to keep you afloat.
All of these qualities, lucky for us, can be developed and acquired as you are making progress in the field. Unfortunately, if you do not possess or develop at least one of these qualities forex is going to be extremely difficult for you as it is not easy to maintain your account without these traits.
Also, always count your money. If you never had this habit before, develop and nurture it now. Not counting money can only lead towards losses as you will not be able to feel when it is time to stop and when enough is enough. It is also going to help you know how much you need to invest in a certain trade as well as keep track of your earnings and spending.
All and all I have to say that no trading is easy. At least forex is not a competitive filed, right? The more people are pouring into the market. The better the assets are doing, the better results all of the participants have. At least that makes it a little bit easier on us.