Getting a Forex trading education is the most important choice you make before you decide to trade the Forex markets. If you want to trade successfully find a mentor that will give you the technique, the knowledge and teach you the discipline it takes. Robots do not work and signals can come too late or stop all together. Having a Forex trading education can never be taken away from you by anyone.To get you started on the Forex trading education here are five quick tips for you.1. Trade within your means. Think about it this way, have you heard the term ‘risk vs. reward’? Risk is the first word used. Ask yourself what is my risk? How much am I willing to lose? You can never trade well with the mindset that you ‘have to trade’… it never works. Have funds set aside and keep your head about how much you can risk.A good rule of thumb here is to risk up to 3% of your account per trade. For example if you have $5,000.00 in your account you should only take a loss up to $150.00 on a trade.2. Know your trading platform and your methodology. How fast you can get into a trade, out of a trade or how well you can see ‘it’s time to trade’ is critical.Practice, practice and practice, you want a Forex trading education golden nugget? Know it so well you don’t have to think about it. Do you have to think about blinking? No, you just do it… trading should be the same.3. Avoid being the emotional trader. Trading is not easy, and emotions can really get in the way. Get a trading plan, follow it, cut your losses when it’s time and take your profits on time too. Not following your trading plan can make you emotional and traders that feel as though they must trade never trade well.4. Stick with the majors. Traders are looking for fluctuations in the markets. Finding an exotic currency is risky. Another Forex trading education golden nugget… keep the high risk, low reward trades up to the novice trader. Trade in markets where the spread is low (they can add up) and stay on the more steady currencies.5. Learn your trading personality. You need to be as comfortable as possible. Do you want to stay in a trade for weeks or months or are you looking to get in and out in 30 minutes or less? Are you a pattern trader, trend trader or a counter trend trader?If you are looking to trade in a short time frame, then you should not be trading on daily charts. If you are a trend trader and I teach you a counter trend trade will you see it as well? As a mentor we need to figure out your trading personality and teach you methods to fit your style.There is a lot to getting a good Forex trading education. You will need much more than just a few quick tips to be successful. It takes experience, knowledge and the willingness to do it. The rewards are worth it!
It can require a lot of strength for children to resist peer pressure and media influences. When it comes to alcohol and drugs, the most useful weapon that your children can have is facts and knowledge, instead of scare tactics and threats from their parents.Children’s trust in parents can go way up on the scale when they actually researched the topic of drugs with their parents. Many successful parents decide that one of the best ways to avoid their children being drawn into drugs, is to educate them, and learn together, rather than simply condemning the topic out of hand.Children usually believe things that they figure out for themselves, rather than things that they have head from their parents secondhand. Also, as most parents know, teenagers want to do the exact things that their parents say is “bad for them”. So, taking the time to research together with your children will encourage them to absorb what they are learning about, rather than simply giving out parental warnings and threats that they can shrug off.It’s not uncommon that the more that parents say “don’t do it”, then the more their kids want to. Many of the children who do use alcohol and drugs, in fact had very strict parents who would not even speak of such habits in the household. And thus these are the children seem to fall prey to a taboo effect.The psychology of taboo means that children often try something simply because they are not supposed to. Don’t add the mystique of just saying “no”. Research the effects of drugs, alcohol, and smoking with your son or daughter.If you do not want to create that taboo effect in your household, while you do not wish to condone alcohol and drugs, you should make sure that your kids know that they can talk to you about these issues at anytime they wish. Although many parents may disagree, but other say that if their kids are going to try alcohol then they might as well try it in safety at home. One advantage of this liberal approach is that in children’s minds, if it does not seem like things are “off limits” then they will not be attracted to doing it just because they are not supposed to.In short, talk honestly with your children about these issues. Do not make using alcohol and drugs outside of the home appealing by condemning the subject and banning all discussion of it. You may be surprised at just how well adjusted and mature, your children can be, when given the opportunity, and how well that can help resist peer pressure.