Do you think you can really make money trading only a few hours a day? I remember when I first started trading it was the number one reason why I started, as I searched online I noticed people were making a really good living trading a few hours a day. I was hooked, as soon as I started trading I began to lose money....I will share with you some key disciplines of how to make money day trading forex a few hours a day consistently. So through my years of trading forex, I have learned a lot and lost a lot. I do hope you find these ideas of mine challenging and if you have more to add please do so. So I want to go ahead and start off as trading and learning 3 key processes that I found very useful, as well as to motivate you and hopefully inspire you to keep going.
Process #1 Make points consistently. Focus on the points not the money, once you learn how to takes points out of the market then the money will eventually begin to come. I know it is very common statement, but I hope this comes home to many beginning traders because in the battles of trading day to day one forgets...takes a trade and right away wants to look at their profit, sometimes they have lost so much, some begin to think about "the next trade" and psychologically manipulate yourself, of how far you have to go , instead of realizing how far you have come.
Process #2 Managing your risk is essential to making money, because once you make your points you must learn to keep those points. Try not to get into every opportunity, do try to wait for the right opportunity and make sure to follow your rules. Make sure that you are not just entering for the need to be right! Take it easy if you have already made a few points call it a day and come back the next day. Keep in mind the time you stay in front of your computer does not equal to the amount of money you want to make. ( Remember that! )
Process #3 Managing your emotions is another key to trading, and probably the hardest of all...You may be trading demo at this moment and it is ok. If you see that your plan is making money then set a deadline when you are going to go LIVE, and test yourself, give it 2-3 months and begin to manage your emotions. If you feel you would rather go live to gets hands on training then go for it, but stay HUMBLE... I like to use this analogy, of pilots, when they train they train on simulations and before flying a real plane they are already equipped with more than 2500 hours of simi flying, to be ready for that one moment and do it for ever eventually they will have to fly the real pane, but remember only if you are ready. If you are not ready and had little to no success, the way to make money day trading is a process, and must be patient. So commit and you too will find success....because when I decided to commit it was when it was on!!!
please add more details and more information , would love to hear your feed back.
Also I will be posting more articles similar to this one , to help you get through the tough times of trading and as well as to help you with your trading. Stay tuned.
Pips for the Day, stay tuned!:
http://www.forexfactory.com/showthread.php?t=550973
Process #1 Make points consistently. Focus on the points not the money, once you learn how to takes points out of the market then the money will eventually begin to come. I know it is very common statement, but I hope this comes home to many beginning traders because in the battles of trading day to day one forgets...takes a trade and right away wants to look at their profit, sometimes they have lost so much, some begin to think about "the next trade" and psychologically manipulate yourself, of how far you have to go , instead of realizing how far you have come.
Process #2 Managing your risk is essential to making money, because once you make your points you must learn to keep those points. Try not to get into every opportunity, do try to wait for the right opportunity and make sure to follow your rules. Make sure that you are not just entering for the need to be right! Take it easy if you have already made a few points call it a day and come back the next day. Keep in mind the time you stay in front of your computer does not equal to the amount of money you want to make. ( Remember that! )
Process #3 Managing your emotions is another key to trading, and probably the hardest of all...You may be trading demo at this moment and it is ok. If you see that your plan is making money then set a deadline when you are going to go LIVE, and test yourself, give it 2-3 months and begin to manage your emotions. If you feel you would rather go live to gets hands on training then go for it, but stay HUMBLE... I like to use this analogy, of pilots, when they train they train on simulations and before flying a real plane they are already equipped with more than 2500 hours of simi flying, to be ready for that one moment and do it for ever eventually they will have to fly the real pane, but remember only if you are ready. If you are not ready and had little to no success, the way to make money day trading is a process, and must be patient. So commit and you too will find success....because when I decided to commit it was when it was on!!!
please add more details and more information , would love to hear your feed back.
Also I will be posting more articles similar to this one , to help you get through the tough times of trading and as well as to help you with your trading. Stay tuned.
Pips for the Day, stay tuned!:
http://www.forexfactory.com/showthread.php?t=550973
