How to Improve Your Forex Trading Skills

[Jasmine]

Forex trading is popular but not many people can benefit. That’s because they don’t have trading skills. Trading isn't rocket science, you can easily learn it

Check Charts: Keep an eye on the market by checking charts regularly, from the moment it opens to when it closes.

Stay Updated: Read up on market news to know what's happening out there.

Keep Track: Start a journal to jot down important market details. It helps you learn from your trades.

Set Alerts: Be ready to buy or sell by setting alerts for price changes on the assets you're trading. This helps you act at the right time.

Plan Ahead: Have a strategy in place before you start trading. It keeps you focused and organized.

 

[moonchild]

To improve your forex skills you need to practice a lot and build a muscle memory of the chart, according to Malcolm Gladwell it takes 10,000 hours to become a master or expert at anything, you need enough chart time to understand the market and how it is formed.

You also need time to work on your Market psychology, because successful trading goes against all of our natural human bias, so you need to pay attention to that too, if possible try and get a mento, someone that knows better than you and then learn from them, it will fast track your learning

 

[FinTrader]

It’s not enough to be able to analyze charts and news. You also need to be psychologically balanced: be able to cope with your emotions, be able to wait and maintain discipline. Only such skills with a profitable trading strategy will help you make money. The choice of broker is also important. It is he who will provide you with certain trading conditions and withdrawal of profits. I chose fxopen, which provides low commissions and spreads, super-fast execution and stable trading platforms.