I've learned that in Forex trading, it's really about competing with fellow traders and earning their money that they have in the market. On top of the big international and multi-billionaire banks playing in this field, I guess it can get really intimidating for most people. Without knowing what you are getting yourself into, I'm sure it's easy to naturally blow out your whole account.
Therefore, I'm just running demo accounts right now and working with some systems that suit my desires of how I want to trade. I've learned that my preference is to be really be more of a swing trader rather than a day trader or position trader. The difference in these types of traders is pretty much the duration of time spent on keeping a trade. By being a swing trader, I'm relying on big reversal trends so that I can ride with the right direction for up to a few weeks. This allows me to avoid competing for fast cash against other traders who are really out to grab a quick profit (day traders) and follow the big guys who are setting the overall direction (banks and governments).
I'm constantly updating myself on new developments with the Forex market. With these new ideas that keep popping out, I really rely on other fellow traders who don't mind giving their input. For myself, I'm being a little sneaky right now with what I have going and it's just a matter of time before I get to reach the cusp of greatness and have a chance to mentor others later.
Academy of Scrappy Credible Undergraduate Desire
