Forex and binary options trading south africa
For many years, I felt I forex and binary options trading south africa what I was looking at. I knew what a good set-up looked like. For some reason however, I was never able to show a consistent profit in my Forex or Binary Options trading. Until I finally realized that successful forex trading depends on the combination of the three elements.
They are all very important but trading psychology is in my opinion the most important element of trading. There is not much you can do to practice your trading psychology. I always used to wonder how I can improve my trading psychology.
What I finally realized was that mastering your trading psychology came with experience. It is not a topic you can read on. The first element of trading is the strategy itself. To find a strategy that works is an extremely time consuming exercise. When you first start out in trading, you typically do a hell of a lot of research. You watch every YouTube video on trading and you search for free forex training online.
There are of course some expensive not so useful weekend seminars that many of us got sucked into as well because we believed that if we pay for it, especially at that price, it then must work.
The more expensive forex and binary options trading south africa is; the more value we place on it. After a year or two, you tend to be quite competent in spotting opportunities. Another thing that most probably will be confusing is the different time frames you look at.
Which time frame do you actually execute these trades on? And is it ok to jump between time frames with any forex or forex and binary options trading south africa options strategy? For example, to execute a trade based on a set-up you see on the one-hour time frame, then the second opportunity you spot several hours or maybe a day or two later appears on the 4hr time frame.
Can you get consistent results with this approach? These are very important questions to which this forex and binary options trading course from FX Lounge will provide the answer to. Try us out for a week at no risk. FX Lounge South Africa. Website Hosting by Online Innovations. I considered myself a good forex trader running out of money time and time again.
I jumped from one time frame to another. From strategy to strategy. The elements are 1 Method 2 risk management 3 psychology. Account Sign Up Login.