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Am I eligible to operate in the Forex?
Financial markets are attractive, the high capital appreciation potential they offer. Unfortunately, and as if it were a game, we try at all costs avoid the recognition that high potential is accompanied by a high risk of total loss of capital. That is why this letter you may seem a little rude at times, but nothing is further from my intention, as I have tried to develop this paper and the session is to show things as they are. Opening our eyes to something that may well be very nice, is not working and consistently ... and that is to join a financial market.
First point: Know yourself
Enter as a speculator in the financial market is not a matter of joke, game or to be taken lightly. On the other hand, is risking its own capital, invested time and effort .. and why not, a bit of health.
The Forex market is characterized by a tremendous expansion in recent years has led to the entrance of bullet types of investors to enter their world. Unfortunately, too much rhetoric and advertising available on the market makes this market a highly dangerous for those inside it or in fact are not financial investors or speculators.
Who has not heard the expression: "the forex earned a 400% last year with my system .. if you want for a reasonable price I buy and sell signals or manage your account "... and unfortunately it is reality that there are those who do not know themselves.
There is nothing wrong with hiring a consultant or manager, provided they are of quality. And ... but there are minority. That is why its services are lost from the cloud of "losers-raisers" that run across the network, although, fortunately, there is who gets to know them and can take advantage of it. Frankly I say that if you are a genuine investor in this market, will separate those who really worthwhile, and only if you are a genuine investor.
But let us leave this aside now. Focus on if you are sufficiently aware of their abilities for the forex.
Do you know enough them? Are you sure? Let's see. Review the following points and Answer (yes / no).
• First of all I studied the forex market and technical analysis and / or key (on my own / going outside).
• Once the study, decided that the methodology is right for me (including risk aversion, leverage, etc.).
• Once determined, those indicators looked technicians essential to develop my strategy / plan of trading.
• Open a demo account for 1 year to see the effectiveness of my strategy / plan.
• Was analyzed at the end of each month, the results, assessing whether I was out of line or was expected in line with what I had planned.
• As operated, wrote new constants that could improve my system. The program was operating with the trust taking over the Internet.
• Completed the probationary period to assess the results and I decided to enter the market.
Are you made these questions? If so, their chances of success are high, if he did not blame others for their mistakes. With this simple questionnaire, I am sure that 95% of traders understand why they lose money in the forex market.
Let's get into the self. Let's talk about your profile. Here a few points that may help. Answer yes or no to the following questions:
• I get nervous when I'm winning 10-15 pips .. I want to quit and earn money!
• Nothing happens if the price goes against me, and turns and earn 10 pips.
• I can not unlock.. I need to keep the screen and see how the market goes.
• Seems to turn soon, and although I have no confirmation signal, and execute the order to make more pips.
• I do not I stop-loss or a fixed output level because I sure win.
• Prefer to use win 10 pips the trailing stop.
• I feel a tingle within me when I'm not at the comuter, I need to follow the market minute
I am:
• restless and compulsive
• nervous but flexible
• calm and rational
• ambitious but realistic
• ambitious and fearful
• prudent and aggressive
• volatile and influenced
• scholar and flexible
• courageous and concerned to learn
Only 3 of the profiles above can cope with guarantees entry into the forex market .... You know what?
I'm sure these questions or has ever done or familiar. I am also convinced that the profiles shown him sound more than I can wait. Unfortunately, this simple "check-list" of qualities and personality is enough to make a real riddle about who can and who can not enter the forex market. Be realistic, and if it's size to be trader, is ambitious. With calm and much reasoning, and based on their studies and learn to be flexible to new ideas (without wanting to learn everything at any time), I think you may be one of the largest forex world.
