Forex trading can be quite a lonely experience. It’s sometimes hard to know when to take a trade and without anyone to ask it’s easy to lose confidence.
Pic: Robert Thomson
That’s why making it down the road to Forex success requires two things;
- your route,
- and passengers.
First, you need to work out the route you’re going to take – this is your strategy. Any strategy needs to be guided by some basic principles and rules, too. Your forex journey is going to be a lot smoother if you can follow some basic rules.
For example, going too fast is dangerous and could cause you to have an accident. Then you might be left without a vehicle to continue your journey. You will have wiped out your balance and have to start again. Going too fast is risky, you need to keep your risk small. So you should set yourself a limit that you don’t go over – no more than 5 trades at a time, for example.
Another good rule is to stick to a certain trading session. Depending on the time zone you live in, or the hours you have available to trade this might be;
- the London session (8am-5pm GMT),
- the New York session (1pm-10pm GMT),
- or the Tokyo session (12am-9am GMT).
The second thing you need (and I do believe you can’t do without this) is passengers. People to go on the journey with. These people should be ones who know the rules and the route you’re going down and can help you stay on that route and within the rules that you’ve set.
You can also learn from your passengers – they might have a suggestion or two to help you along on your journey. That kind of support is invaluable for keeping your mind on track. It stops you from wondering off the road down dark lanes you’re not sure of in search of a possible shortcut.
That’s why Forexmentor launched LiveConnect. Jarratt’s videos help you to figure out your own trading style based on some solid principles that have made him a successful professional trader. Forex Mentor’s Jarratt has made the journey and now you can get on the road with LiveConnect at your side. Make your way into the chat room and you’ll find yourself on a coach full of other traders including Forexmentor’s Vic Noble and Jarratt Davis all taking the same steps, reinforcing each other and you.
