Trading Education - Becoming a Pro Trader

Most beginner forex traders lose a lot of money and wonder how the pro traders do it. A pro forex trader is not necessarily someone who never loses any money whilst trading, they just make much more than they lose. How do you move from the over 90% of the people that are losing money to become a professional trader that makes money? This article will focus on three things you need to do to become a pro forex trader.

Education
Your starting point in the journey to become a professional trader is knowledge. You don't really need any kind of professional qualification but you definitely require training. You have to get a good source to learn the basics of forex trading. There are many good sites online that offer free training. You will also need to find an experienced trader to help you.

Get familiar with the terminologies, trends, support, resistance, candle sticks etc. Learn how to read all types of charts. Take your time to learn well. It could take you anything from one to three months to get a good grasp. Get a good understanding of the different trading strategies swing, day and so on then choose the one that is the simplest for you to understand and practice.

Practice
Open a demo account and start trading using the strategy you have selected. Remember choose the simplest for you. After using the demo account and you feel you don't like the strategy then stop using and start with another one. Do this until you get the one that fits your make up. Stick with the demo account for at least 3 months until you have mastered one trading technique before moving to another one. Mastery of one strategy is enough to make you a pro forex trader.

Emotional Conditioning
The third vital thing in becoming a professional forex trader is emotional conditioning. Forex trading requires discipline and commitment. You have to learn to control your feelings when trading. The market can get very volatile and you need a good emotional handle to be steady and not trade against best practices.

Start emotional training in the months you are using the demo account. Imaging vividly that the money is real and let yourself feel the greed, the temptations all the emotions that lead to loss of control. This experience is invaluable when you start trading with real money.