While successful forex trading can free us from waking up to the sound of the alarm clock, commute to the office and smile to the boss, it still requires discipline and takes time. There are no shortcuts. Becoming a successful trader does require some characteristics of a day job. The Forex Guy wrote about the patience that is needed for forex traders, and touched an interesting point – forex traders want to be free of their jobs and their bosses. I’m following up on this point. Here are the characteristics: Education: While you don’t need to spend years in college, basic education is necessary. It can either be done in a forex course, by hiring a coach or by studying alone, if you are disciplined enough. In any case, education cannot be avoided. Training: Learning the theory is nice, but like driving lessons, getting on the road is essential. Using a forex demo account for learning technical analysis is one necessary step. There are more. Discipline: Sticking to a strategy is very important. This means not forcing yourself into a position. It also means not escaping from a position just to calm yourself down. And sometimes this means accepting that you just don’t do anything. The Forex Guy dives into this issue. This discipline is different from the one you have to demonstrate in the office, but it can be much harder. Occasional reassessments: You don’t have to go the meeting room for this, but you should occasionally check out your trades, see what went well and what went wrong, and make modifications to your strategy. The meeting minutes are for yourself. While similarities exist, the freedom is very rewarding. Do you find additional characteristics? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Basics & IndustryForex Basics share Read Next Forex Daily Outlook – December 15th 2009 Yohay Elam 13 years While successful forex trading can free us from waking up to the sound of the alarm clock, commute to the office and smile to the boss, it still requires discipline and takes time. There are no shortcuts. Becoming a successful trader does require some characteristics of a day job. The Forex Guy wrote about the patience that is needed for forex traders, and touched an interesting point - forex traders want to be free of their jobs and their bosses. I'm following up on this point. Here are the characteristics: Education: While you don't need to spend years in college,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
