Trading is not something for those who cannot stomach their emotions or think logically through tough financial moments. To become a successful trader with a good plan, it takes years and years of practice to really develop techniques that work for you. Overall, it is impossible to predict where and how a market will move but there are certain indicators that can definitely help a trader. With time and patience, you can figure out a good plan.
- Writing a trading plan for Forex is extremely difficult and unpredictable for most.
- If you are good at trading, you must find certain cues that work for you as you go about trying to avoid losses.
- Market indicators are a real thing but it is impossible for anyone to have a complete sense of where the market is going.
“There are a lot of instruments to choose from: currency pairs, metals, commodities, CFDs etc. Each of the instruments has their own characteristics and trading conditions. For beginners, it is recommended to choose 4-5 trading instruments and study them thoroughly.”