If you wish to become part of the forex industry, you need to be on your toes. First thing that you need is information about it. All the latest information should be in your pocket at all possible times. If you lag behind you may be the next loser. Did you know that 95 % people who join the industry lose their money in the very beginning of their journey? The main reason is that they think forex industry can make rich overnight. It can be true in the sense that people do make a lot of profit. But then it should not be forgotten that these profits come in a respectable period of time and depends mainly on the knowledge of the trader. So it is extremely important to have an access to some privileged knowledge which can be converted into profit.
If you have no idea about the market and think that just by following a plan of some other senior trader will serve the purpose, you are fooling yourself. Do not move blindly. Study the trade charts as carefully as possible because these depict the possible movements of the trades. Formulate a correct plan and strategy yourself. Follow it carefully. If it requires any amendment you should readily do so. Record your experience both good and bad. You will learn maximum from your experience.
Networking Reach out to the Forex community. Do not keep yourself aloof of other people of the forex industry. Here networking is very important because you come to know about the other people, their experience, techniques and strategies. So reach out the forex community to keep yourself equipped with the latest information. There are online training facilities available. I recommend it for every new comer. No doubt how good you are you need the right kind of tools to do the things right. These online trainings enhance your skills and make your more prepared for the industry.
Make it your point to learn as much as possible. The more you learn less are the chances of losing games. Monitoring the market and learning yourself is very important. This is important because you need to have full control over your trade. It helps to analyse your mistakes that make you lose. It is not desirable to trade on all currency pairs daily. From your experience you have to learn when to trade and which currency pair to trade? Even the best trader trade 2 to 3 currency pairs. It is not the game of bulk but of correct opportunity and precise decision.
Some people start using trading robots right in the beginning of their trade journey. This deprives them of the knowledge of this industry because the knowledge is very essential in the long run. So trade yourself in the beginning and later on you can use a robot too. FAP Turbo has the ability to trade with multiple currency pairs. The winning rate and accuracy of this trading software is remarkable. The draw down rate of FAP Turbo is 0.35 % while in case of other trading robots it is between 10 to 20 %.