Hi,
I have read lots and lots of strategies, books, quotes, etc. but one of the best quotes that I read is:
The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading... I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don't cut their losses short.
.................................................. .........Victor Sperandeo
Roadmap to trading forex successfully:
1. Entry/Exit strategy (lots of good strategies can be found at
www.strategybuilderfx.com).
2. Money & Risk Mangement:
Most of new traders come in the market with a view of becoming millionares in few months and they indiscriminately use the double edge weapon of leverage, mostly at 1:200, to be come rich overnight. It takes time to learn the importance of MM & RM, but most of the traders go broke and leave the areana before understanding its importance.
A great article on the importance of MM/RM:
http://www.moneytec.com/forums/showthread.php?t=19415
3. Emotional Control:
Quality of not being greedy, fearful or impatient. This is the hardest part of trading and like MM/RM it takes time to master this skill, provided the trader lasts long enough.
4. Discipline:
Discipline is sticking to all the above mentioned pre-requisites of success in trading ....
WITHOUT FAIL.
The best instructor of forex trading is experience and the most important lesson that can bring you on the path to riches is
LEARNING FROM YOUR OWN MISTAKES AND NOT REPEATING THEM.
A good place to read tutorials, info, analysis, etc. is
www.forextradersworld.com .