Hi,
I’m sorry to have missed wishing you a happy new year on January 1st. I took a much needed vacation abroad and was away from my computer for a few days. Maybe I’ll write about my trip on the following post, but right now I want to say happy new year and wish you a highly profitable and happy 2009.
On this post I want to return to basics. We’re all looking for intricate (and often super-expensive) ways to make forex earnings that we often miss how much we can make with all the small and ordinary steps we can take. Making big profits on the Forex markets doesn’t have to be complicated. It can be quite simple.
So I want to take a step back and look at what you really need to make more money on the Forex market:
1. The willingness to accept losses – Ever hear of a boxer who didn’t get pounded once in a while? You learn the ropes the hard way or not at all. It takes time, it takes effort, and it does cost you some money in losses. As long as you’re new at the game, play for small lots. This is tuition. Later, you’ll make it back and then some.
2. Sign up for a broker already – For some reason, this decision is one of the hardest for many traders. Don’t waste too long on this one. You can easily switch brokers any time you want. Here’s one you can start with, or even try to see if it’s better than the one you’re currently using: eToro Forex Platform <== click here
3. Know your interest rates – Whenever I meet a Forex trader who doesn’t know the world’s interest rates, I know I’m meeting a future loser. Interest rates are one of the key fundamentals of Forex pricing. Know them by heart.
4. Learn by yourself and not through forums – Forums are bad bad bad. They’re usually a place for whiners, newbies, and liars. The big guys hardly visit forums unless the own them and they charge you a hefty fee for participating. The best thing to do is to learn through your own experience.
5. Try 3 different tools this year – Why 3? Because you need just one to work for you to make up the price of the 3 and much more at that. If you try just one you may land on a dud. This is an investment in your future.
You can read about one of the most recommended tools here: Forex Auto Pilot Reviews
Follow these 5 tips and you should have much more money at the end of 2009 than at the beginning
