How To Become Good Trader

As we all know at the first time we are in this forex business want to earn much money in short time without loosing our money. But in fact many beginners are in trapped in it that always loosing and no profit. Of course this condition makes them stress and work under pressure with the high expectation to get their loosing money back. Days by days, months by months they always do deposit again and again.

Well, in order not to get trapped like that, beginners should understand, learn and practice these knowledge or points on how to be come good traders.

1. Find the profitable system
             There are many traders that is expert share the profitable system out there, as beginners you just take one of them, learn, understand, compare and apply with your own strategy. Practice it ini demo account until you have more profit.

2. Be aware of money management
             Although you have found the good strategy, you must understand about the money management related to the system we have know and obey the rules.

3. Control your emotion (Trading psychology)
             This point is very important because although we have got the good system and suitable money management, many traders are failed in controlling their emotion then finally they have got loss again.

Alright, that the short points that I can explain right now. In another day, if there are some additional explanation I will edit this post for you.

Trading for Short Term Or Long Term?

Some traders are still confusing in deciding whether trading long term or short term. Many beginners trade for short terms like doing scalping with big lot, taking some small profit in minutes, they think that this is the best way to earn money in short time, but in this way when their open position put against the market movement most of them let it get minus until getting the margin call. It's so naif I think.

These are some suggestion for beginners so that they know when they are trading for long or short term.

- Long term
            If you have not enough time to trade because you are employees, busy businessmen, etc, better you take the long term trading. Of course in long term trading traders should 99% understand how and when to enter the market so that they know the best trend to follow and in what price to set stop loss and take profit. Sometimes this trading style need very strict money management and more capital than when for short term.

- Short term
           For choosing short term trading we should prepare the best time, body fit and fresh mental. Those are very important because it will let you ready facing the cruel market.

In some chance I will add this writing with more detail.

Forex for Student

As we all know that forex business interests people with kinds of jobs, community, nations, etc. Including it interests students. Is it ok for students to do this business since they have to focus to study.

I think it will be fine and good for students if they can manage their time between study and do business, but the main focus should be for study. Forex can be run in their spare time that is not disturbing their studying activities.

And also by doing trading in their spare time they can initiate to earn extra income and of course they should have got good plan although they have short time to trade.

Not only for students, kids also are welcome to learn and try trading.

Asian, European or American Market?

Traders can trade Asia, Europe or America market. Which one the best for trading? Asia's market tends to move slowly, but when there are some high impact news it can run very fast that sometimes cause some small traders shocked on that. Japanese Yen, New Zeland, and Australian are some pairs that can move fast in the session.

When the Asia's market becomes slow Europe market will take the role to move the market up and down based on the news and traders trading. Be careful to trade in this market, it can blow your account. But for good traders this is the best time to get the juicy profit.

On the Asia's closing sometimes the market will reserve, here some traders sometimes get wrong in deciding the market trend chance for short term.

Here is the chart that you can compare to prepare your next trade.