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Automated Forex Trading - I need any advice on how 2 become a more disciplined trader.

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autocurrency
14
autocurrency  
I have a good understanding of automated forex trading. Just need a bit of guidance on chart set ups, time frames, indicators etc. Theres a whole load of jargon out there. Just wondering if anyone fancied keeping it simple and showing me a few pointers on becoming a more disciplined trader ? better physcological control ?

Regards

ACT
investeo
4108
investeo  
autocurrency:
I have a good understanding of automated forex trading. Just need a bit of guidance on chart set ups, time frames, indicators etc. Theres a whole load of jargon out there. Just wondering if anyone fancied keeping it simple and showing me a few pointers on becoming a more disciplined trader ? better physcological control ?

Regards

ACT

You may start out by reading this classic book

 

http://www.amazon.com/Disciplined-Trader-Developing-Winning-Attitudes/dp/0132157578

 

jamesw
6
jamesw  

Thank you for sharing this useful book about Forex trading. It looks like a good one.  I am a newcomer on this topic and want to know more about it. I already read some information about Forex trading strategy , but I definitely want to gather more information before I will start! If you can share your experience this would be gladly appreciated!
investeo
4108
investeo  
jamesw:

Thank you for sharing this useful book about Forex trading. It looks like a good one.  I am a newcomer on this topic and want to know more about it. I already read some information about Forex trading strategy, but I definitely want to gather more information before I will start! If you can share your experience this would be gladly appreciated!

I can recommend NOT to learn on demo accounts. There are plenty of brokers available that allow to trade with 0.01 lot. Use it to see how you can control your emotions.

Do NOT increase lot amount until you become profitable for 1-2 months.

Have a written trading plan (this is the hard part).

You can read/hear/watch how others do it but remember one thing. Only your experience matters.

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