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One of the questions every Forex trader has, beginner or experienced, is what does good forex methods consist of? This article is about knowing what constitutes a good trading method, and what most methods look like ( what makes them not effective). This will help you evaluate a forex method.

There are trading methods and systems on the market, most of them are ineffective. Why? They share the following short comings:

- Too many courses there offered are not complete. they focus more on “theory”, but not really show how a Forex trader should succeed. Little to no time is spent teaching step-by-step forex strategies to help plan a trade.

- Most of the traders make this common mistake : not having risk management in their trades. If your Forex Course or system doesn’t include risk management, might as well walk away and find another.

- Fundamental analysis. Time consuming is not what you want in learning Forex. Most focus on fundamental analysis which require deeper study and has complex economic and financial issues.

- Most will require you to day trade. Most of the systems I encounter require being glued to the computer most of the time to be able to spot “opportunities”. Which is definitely not necessary.

… Then what is an effective , profitable method?

Based on research and interaction with forex brokers, traders and mentors, this should be the gauge in determining is a method is good or not.

- Complete. It must be teaching set up conditions, entry rules, initial stop rules and exit strategy. A careful and complete method leaves no profits to luck.

- according to this method, they must have money and risk management solutions. Meaning, a course or system must have risk management course.

- Must use technical analysis tools, but is not a fully automated or mechanical system.

- Forex Freedom must be the objective of this method. It is favorable to spend 20-40 minutes a day trading with this method.

This will help Forex traders in distinguishing the real from what is not. No wonder 95% of the traders fail. Forex Trading Tools should provide complete explanation ( of how to trade forex and protect your trades) and is easy to understand are the methods every trader should have in trading.

Forex trading freedom?I do it in less than 20 minutes a day.

3 comments

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