Szeri Nos Biggs’ Tips For Entering The Forex Currency World

Szeri & Nos Biggs’ Tips For Entering The Forex Currency World

Forex may seem to be complicated, however, it really can be made quite simple. Yes it does take some time to get a feel for and to get used to, but once you are acclimated it is really user friendly. If you have a great system and a mentor its almost like well theft.

It is important to remember that you need stamina in order to continue making quality decisions for long lengths of time. True, Forex isn’t a physical job, however, it takes a lot out of you mentally and emotionally Unless you are mentally conditioned.  Just like a physically demanding job one needs to build up stamina.

When you are just beginning it is smart to keep your risks low and not invest too much. In fact no capital should be risked until you can  double a demo account in 90 days or less. It can be very tempting to invest money than you cannot afford to lose. Never borrow money to trade. Forex trading is not investing. Its speculation . It is important to remember that as a novice your chances of losing are much higher than an experienced trader. Keep in mind that there might be more of a possibility that you will lose than win in the beginning. ( Thus the rational for demo trading only )

Our mentors are all very successful traders.   we ask them for the best advice they can  give to someone who was just entering the market.  To the man they start with  “Never invest more money than you can afford to lose. If you can’t afford to lose it, don’t invest it!”. This makes sense, if your first trade loses more than you can afford, you obviously won’t be able to continue.

Of course making small profits won’t be as exciting as taking big risks, however, you can and will build up to bigger profits. My mentors trade millions with a single trade but they still  “count pips” as a measure of success.

So create … a demo then …  make a trading plan then…. take trades ….  count pips and double a demo  without blowing up. Then you are ready to go and enter the Forex Currency Trading world as a productive member taking from those who lacked the dedication you have.

Watch out for greed! Greed will quickly obscure a clear mind, it will make you decide against logic and it will probably destroy your wealth and even your health! Let your profits rise as long as possible, however, don’t let you greed take away your clear thinking. If one trade has given you significant profit it could be a good idea to take some of the profit out and invest it into another.

A danger that comes after some experience and success is that of becoming caught up in your past gains to the point of feeling invincible. Remember though that no one is invincible and everyone needs to keep alert to the market signals. Ignoring the market just because you have a feeling about an investment isn’t a good idea. If you were successful in the past, keep to the same risk level that you had to begin with and that should continue to work for you.

Forex isn’t as complex and difficult as it may seem from the beginning. All you need to do is take the time to understand the ins and outs. Of course you need to keep a straight head and a solid gut, but it is well worth it. We hope this article will help you start a long and prosperous trading career. Szeri & Nos Biggs Trading offer  various levels of course work from totally Free to Luxury Services. We are always accepting applications for interns who trade their time and skills for our instruction.