FOREX TRADERS

[AndrewBezen]

Forex masters: are they worthy of following

It is the question of all the newbie forex traders. Are the forex masters really worthy of following? Of course, they send us to signal about what can happen in the market and interpret the signal with a clearer meaning than our knowledge based on their expertise and years of experience in the trading, but are they really worth your time to follow? After all, why you should let someone make decisions for you when it is your own money at stake? It is your money that you will lose, not theirs. Let’s discuss more in this article.

Help from professional traders: Before we can analyze the questions, let be clear that masters are helpful in every arena. They clear our thought and make a way for reaching our desired goal in our mind, following the right way. But when it is about money, things are not sweeter like honey. Everyone is trying to take money from your pocket to fill theirs. One dollar of loss to you is one dollar of profit to someone. So if you truly want to master the art of forex trading then you should seek help from the professional traders.

Advice for newbie: If you are a newbie, we advise you to follow the masters for some months. They will help you with some basic understandings like when to trade when to stop when to get out of the market. Follow them for a month or highest for 6 months. But not more than that. Why? Because you are here to make your own money. They are giving you signals and making a load of money. It is not a charity that they are doing for poor souls. In fact, they are holding advertising in their websites and many company and organizations pay them a lot of money to highlight their service or to seduce you to take their service. Forex masters also lose money and use your own brain to calculate the perfect market condition while trading online to place your trade and exit the market with profit.

Develop your own strategy: Do not get into other’s trap and follow your guts. Sometimes, you are the best teacher for yourself. So make sure that you learn the basic of the forex market and try to develop a solid trading strategy based on your knowledge. And before going live with the real money make sure that you back test your system in the demo trading account.

Conclusion: Only follow the masters for a month. In forex, everyone here loses and earns money. It's all about making a consistent profit. It’s true that if you follow a professional trader then you will be able to learn the art of trading in short period of time but while taking lessons from the professional traders don’t get dependent upon them. As a trader, you should also work hard and learn all the basic details of the forex market since, in the long run, you are going to trade the market on your own.