What’s up guys, my name is Iman and I am trading Forex for over 5 Years and today I want to talk about important things that you need to know if you want to start trading Forex.
I am going to tell you my Top 3 :)
1. Time
-Learning how to trade Forex will take you a long time. It’s not about getting rich overnight. It’s about learning a skill that can help you earn money from wherever you are and let your money works for you even when you sleep. It might take you 2 years or 10 years but if you master this skill you will be free for the rest of your life.
2. No fast money
-Forex is not about earning fast money or get rich in few days. It’s all about a process that you need to go through. You will lose money for sure and it won’t be easy cause if it’s easy everybody would do it and I wont be something special ;)
Every dollar that you lose is a new lesson for you to improve yourself to get better and better and having a mentor is a huge thing that can help you a lot on your way to become a successful Forex Trader.
3. Risk Management
-Probably the most important part of Forex trading. Forex risk management comprises individual actions that allow traders to protect against the downside of a trade. More risk means a higher chance of sizeable returns – but also a greater chance of significant losses. Therefore, being able to manage the levels of risk to minimize loss, while maximizing gains, is a key skill for any trader to have.
-How does a trader do this? Risk management can include establishing the correct position size, setting stop losses, and controlling emotions when entering and exiting positions.
Implemented well, these measures can prove to be the difference between profitable trading and losing it all.
I hope I could help you guys a little bit if you are thinking about trying or starting with Forex trading.
With regards
Iman Iranmanesh
