Sunday, December 3, 2017

How to Make Forex Trading Fun and Profitable

Most traders aim to make their Forex trading profitable. This is their biggest goal. They're willing to spend hours in front of the charts, read news item after news item, surf forums endlessly, and buy every course they can find.

Yet most traders still end up as losers. They're just unable to make a consistent profit. What's worse, they forget the real reason they tried Forex in the first place, it wasn't just to make money, it was to make money without having to make it into their regular job.

Forex has massive earning potential, well beyond what most jobs offer. However, no money in the world can buy back time so if you want your Forex experience to be fun you need to make sure you're not turning into a slave of the market. I recommend these steps:

- Spend only a limited time on the market each and every day.

- Don't take part in more than a single Forex forum.

- Stop following your open trades. Use Take Profit and Stop Loss prices and let the trades play themselves out without your active supervision.

- Don't allow yourself to be exposed to a lot of risk. Feeling like you may lose too much takes all the fun out of trading. Yes, you have to take risk but you don't need to be stupid about it. Only trade money you can afford to lose, and only risk a small part of that money on any single trade.

You may find it hard to believe but traders who don't have fun are not likely to be profitable. You want to Forex and the money you make to serve you, not the other way around. This is the whole point.

The other thing you need to do in order to make trading fun and profitable is to make sure it doesn't affect you emotional. Trading the Forex market can prove to be quite a nerve wracking experience. Putting your money on the line, trying to see how which way the market is going, feeling the tension of a trade gone bad, seeing a profit shrink before your eyes... no wonder so many traders end up feeling stressed out and making silly emotion driven trading decision that cause them to lose money.

In order to make Forex trading both fun and profitable, you have to make sure you have full control over your emotions and that you don't allow them to influence your trading decisions. Anything other than that will be disastrous.

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