Forex Made Easy Tips

By Chan Boldene

Forex Made Easy is not always easy. Before we delve into figuring out this whole Forex business (and it is a business), I thought I'd share some simple yet important Forex Made Easy tips. I will be going back to this periodically because they're important not just because you're learning to trade 4x but because they are good sound principles to live by.

If you've been around any length of time, you've heard or read how the basketfuls of money we can make from Forex Trading (or FX Trading), so what are the tips and rules and strategies we can incorporate to make money from 4X Trading? Below are the seven Forex Made Easy Tips that the staff and management of Forex Made Easy (me) came up with to help make you money in this crazy but rewarding field of 4X Trading.

Tip #1: Don't get greedy.

Wow. This is too simple. When you're on a hot winning streak, it's easy to think you can't lose. This is dangerous thinking. 4x Trading is easy but you can lose your shirt too. Be careful. Greed can deplete your account faster than you can say "that's not what they taught me in that Forex Made Easy blog!" Greed can be devastating.

Forex Made Easy Tip #2:Get Educated

You don't have to be a market genius to make money in Forex. The Forex Made Easy blog is here to help you with that. Anyone can learn how to trade and anyone can make money. You don't need to spend long getting educated either, but having experience trading will be invaluable to you. Make sure you have a trading rules and a trading plan.

Tip #3: The Best Proven Systems are Simple

This Forex Made Easy tip is perhaps the most difficult to conquer because we like gadgets and systems and indicators and tools. Use the KISS method: Keep it Simple Stupid. The phrase is completely overused but it fits. Keep it simple, use a few indicators, and support and resistance. Don't get complicated. Simple trading "systems" are far more robust than complicated ones.

Forex Made Easy Tip #4:Make sure you have Risk and Money Management Rules

This Forex Made Easy tip is boring. Success in this business is built on risk management and money. Not risking more than 10% of your account on any one trade will take you far. No more than five percent is even better.

Forex Made Easy Tip #5: Discipline- Set the Rules and Stick to THEM

No matter how good of a trader you think you are (and you're probably not all that...sorry), you will pile up losses. Even after you search this Forex Made Easy site for nuggets of insight and wisdom, you will still need disciple. So, let me repeat that, you will have losses; you will lose occasionally. But you need to have discipline to ride out the losses and come back. Know YOUR rules. Stick to them. Keep your emotions in check when trading. Leave nothing up to your emotions. Write your instructions down and follow them. I can't emphasize this point enough, because if you don't follow what you created when there was no pressure at all, then you probably will lose money.

Forex Made Easy Tip #6: Have Fun

Trading Forex can be challenging and rewarding. It can also be exciting as you "win" more and more. Don't take your gains OR your losses so seriously. Don't spend your entire day in front of the computer screen. Go outside. Relax. Spend some quality time with your family. Watch a sunrise. Go treat your kids to an amusement park. Go on a second or third or eleven honeymoon with your spouse. The markets will always be there tomorrow.

Forex Made Easy Tip #7: Paper Trade Until You "Make Money"

Practice Practice Practice. There are software programs out there (and some that we at Forex Made Easy will recommend) to help you so that you won't lose money quickly. You can test strategies, theories, and win a million dollars - all with no money changing hands! You need to do this.

We at Forex Made Easy believe that anyone can make money trading Forex . Anyone. The effort you need to put in (with the help of this Forex Made Easy blog) will be well rewarded. So don't forget the rule that simplicity rules. Simple, steady, and well executed strategies will make you the a lot of money from Trading 4X . That's the Forex Made Easy way. - 23196

About the Author:

Chan Boldene is a freelance technical writer and has penned many articles on the Forex markets. Join him at Forex Tips for a few key pointers. Visit also Forex Rumors.