Forex Spread Betting Forum – How to Develop a Successful Forex Strategy

September 7, 2010 by  
Filed under Forex Trading Strategies

Forex Spread Betting Forum

I think that every forex trader will agree with me when I say, forex trading is the most frustrating learning curve I have ever had to achieve. Anyone that can say they have had it easy trading forex from day one is either lying or I would love to hear from you. Forex trading I like to compare to chess, it doesn’t take long to learn but it takes a life time to master. That doesn’t mean you can’t be a successful forex trader with the right guidance.

One of the most important things to remember about a successful forex strategy is that a successful strategy for one forex trader doesn’t necessarily mean it will be successful for another. Everybody is different and everybody has different tolerance levels especially when it comes to losing money and winning money, I say winning money because that to can be as equally scary. Forex Spread Betting Forum

To develop a successful forex strategy that suits you is to start off using other people’s strategies, which you can pick up in forums and forex learning websites, then tweak these trading methods to suit your personality. Experience will also play a big part in your success, getting to know how each of the major currency pairs reacts and there general level of volatility is just as important. You may not use the same strategy for each currency pair.

Unfortunately it is a matter of trial and error and more tweaking to see if your method works, luckily many of the big spread betting platforms offer live trading demo accounts so you can practice without risking any real money. You are probably thinking, I want to start earning money straight away, this is where one of the main attributes of a successful trader plays its’ part and that it discipline.

One of the best ways to develop a successful forex strategy and earn at the same time is to join a forex trading club. A forex club is a group of traders that trade together over a webinar that is coordinated by a professional trader. This way you can get professional advice at the shared cost of the group. Forex Spread Betting Forum

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4 Responses to “Forex Spread Betting Forum – How to Develop a Successful Forex Strategy”


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