I started to learn how to trade foreign currencies (forex) late 2002. Let me state right now that it is NOT easy, it takes time, effort & a great deal of patience & discipline to even have a chance to succeed.
However those who are willing to put in the time and effort and can learn to trade successfully have the opportunity to make a six figure income, working from the comfort of their own home, with hardly any overheads.
In the coming weeks and months we will also be looking at how to trade futures, stocks and options from home. There are many similarities between the methods and many common points of interest in terms of planning & psychology. If you already know how to trade forex then learning how to trade futures will not be so difficult and we have a very experienced trader & tutor to explain the process.
Fotis Papatheofanous is an ex hedge fund trader who trades futures, commodities, ets, bonds and other financial instruments. He also provides detailed analysis for high net worth clients as well as running a fund for private clients. Fotis has kindly agreed to give some of his time to share his knowledge with us here at the W.I.C
We also have one of my former forex students, Omar, who is now a full time professional trader, as well as being a bit of an expert when it comes to selling on Amazon.com. Omar will share his knowledge & experience with us here at the winners inner circle.
Before any of you get carried away its important you read the following: DISCLAIMER
To trade any currency or commodity you need to learn the basics. I have provided a complete 100% FREE forex video training course here at one of my other websites: Free Forex Training Course but if you are serious about learning how to trade then consider trying out my forex mentor program. You can do so for only $1 for the 1st seven days, here is the link for more information: www.forexmentorpro.com My colleagues & I teach how to use technical analysis to predict/calculate where the price of a currency (mainly the $USA) is going next, up, down or sideways. We then provide daily video updates showing what trades we are looking to take in the next few days. You can use the same type of analysis to trade futures, options the S & P etc.
However,THE biggest problem that all traders face is not the strategies but the lack of good business practises and the failure to master trader psychology.
Before you start to trade anything with real money I recommend you concentrate on the following articles on the physical preparations you need to make to give yourself a chance to become a successful trader and it is imperative that you study the articles that our trading psychologist Rich Friesen will add in this section. In Rich’s 30 years as a pro trader and educator for some of the biggest banks and hedge funds on the planet & my 10 years experience as a trader and mentor to home based, retail traders the failure to understand and master the psychological aspects of trading is THE biggest reasons both groups of people fail.
If you really want to succeed then plan your physical regime and office set up and also learn how to win the much harder mental game. I have written specifically about forex but these two disciplines are key to succeeding at any type of trading.
Author: Marc Walton