A Professional Forex Signals Provider Tells His Story
by majid khan at/on 11:16 AM
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GFSignalsThat's the story told by one of our active and successful signals providers, who decided to remain incognito. We hope, that it will help all beginners to become professional and skilled traders. So, enjoy reading.
The beginning of my trading way was quite usual. Like many beginners I had no big money for opening a live account, and the level of my knowledge in trading was also not up to the mark. But I was eager to learn more about Forex. So, I have opened a demo account and began training. The first emotion I got was a passionate desire to open a live account as quickly as possible in order to start getting huge profit. Trading on a demo I made virtual earnings, therefore I was eager to trade more. Certainly, there were some doubts in honesty of the dealers, but, having run a number of experiments, I began to think, that trading on the demo account and on the live one is just the same. That was my first and great mistake. I tried to use different signals and trading strategies, and finally I made up my first own trading system. Sometimes I wasn't success, but most trades were profitable, which drove me to opening a live account after 3-months' Forex-training.
At first it was easy technically, but not psychologically. Losing money is always unpleasant. Therefore, my deposit wasn't big and I hadn't a great fear of losing it. I've put some money on my account and began trading. With the help of different guides' recommendations and signals I tried to keep to a spirit condition, which I had when trading on demo. But that was quite difficult. Beginning from my first steps, which seemed to me very accurate and logical, I started falling down. My deposit was ruined in a very short period of time, and the account was blocked. Now, being a professional and independent signals provider for 5 years, I smile remembering it. But at that moment it was a real shock for me. The only desire I had after such a shameful failure was to throw my plan away and to forget the word "Forex" forever. But I have not backed down. And that was the right decision.
After short training on a demo account I made a second attempt of trading. That time I spent a great amount of time on finding, understanding and analyzing my mistakes. I also tried to study successful traders' signals and methods of trading, which certainly had done me good. I began to look at the market from completely different side. Some time was also spent on learning to control emotions and studying psychology. As the result "composure" became my middle name. And the business has really become better. My trading system started to bring me my first profit at market. My trading system is based on getting profit at a minimum risk. I understand that using such methods of trading I won't earn millions, but it allows me to have quite good income. And a little advice for all beginners: be self-confident, never step back, and don't be ashamed of analyzing your mistakes.
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