By Nigel Butcher
The first thing anyone deciding to get involved in Forex for the first time will find out is that there are thousands of strategies available with varying degrees of success.
This makes it very difficult for the novice to decide which one to go with.
Having a strategy when trading Forex is absolutely critical, anyone thinking they will just trade off their instincts and ‘hope for the best’ is likely to exit their forex trading career faster than they started it!
Every successful trader will have a very clearly defined and well structured strategy that they have to be able to trust and that’s based on well founded principles. It’s important to identify a trading course to follow to give yourself the best chance of success.
In addition there is a need for ongoing support and mentoring, bear in mind your objective is to build an income from your trading it’s therefore extremely important to you are successful.
This is why ongoing support and mentoring usually makes the difference between success and failure.
After all, if you were learning to drive a car you wouldn’t simply buy a book, read it and then head off down the motorway. You would get an instructor that would guide you to apply everything you need to learn to drive until you were good enough to be able to drive the car safely.Trading is very similar. You won’t become successful by simply attending a seminar or reading a book on it, many people believe they can, but this is the primary reason why the majority of novice traders aren’t successful.
Trading needs to be taken seriously; first you need to take the course to understand the principles and techniques that need to be applied.
But then, just as importantly, you need an instructor with you every step of the way to help you apply those techniques and gradually get better and more consistent.
Strategy and support are both critically important to every new trader if they are serious about becoming successful.
Nigel Butcher is Marketing Director at FX Professional. FX Professional offer a complete Forex trading course with mentor support. Download our free Mini Forex Trading Course and Top Trading Tips Now! Click Here