May 23, 2011

Online Trading: A - Z Guide, Not!

Online Trading: A - Z Guide, Not!

"The Quick Brown Fox Jumps Over the Lazy Dog."

How much do you need to know about trading?

Please. Ask yourself one more time.

One of the youngest successful Indonesian stock trader: Ferdie Darmawan in his website, share about how one person ends to be a 'walking-encyclopedia' instead of action-taker.

He or she may knows a lot about any methods that actually works. But, never take any action upon his or her knowledge. 

There are actually guides every professional trader claims to be a golden rules of trading.
However, this guides is not about fancy-colored technical indicator.

This is about you. 

  1. Your Mindset 
  2. Your Money Management
  3. Your Method, the Three M's

To make you understand better. Imagine this way:

The three M's is the horse. You need it to be strong and healthy. Feed it every day, as you feed your mind with healthy foods and thoughts. Train it, make it habit to follow your method faithfully.

Whenever something gone wrong, treat it with good money management.

Last thing, Never put the cart before the horse.

Don't trade if you think that this is the way to make earn money fast. Don't trade if you open an account based on what you read on the net, forex broker ads, or on this blog. 

Do your homework!

  • Support and Resistance
  • Trends
  • Fundamental analysis
  • Risk management

Remember, Keep Trading Simple!

P.S: You may print the horse picture and keep it in your wallet. A good reminder on how's life works.

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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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