The biggest problem beginners face when trying their hand at Forex is that they have no system to follow. If you have zero guidance, it’s going to be virtually impossible to succeed. After all, it’d be like walking blindfolded into the woods. You won’t know what to expect. But of course, the purpose of this article is to show you what a good system should have.
A forex trading system for newbies should adhere to these three aspects at the very least.
It’s quite obvious, really! In my opinion, every single trading system out there should have video tutorials for its clients. Videos are by far the best way to get information across Online. Not only are they more engaging than eBooks and reports, but they’re also much easier to follow.
Think about it, would you rather have someone show you what exactly you should be doing when you’re buying or selling currencies? Or would you instead read about it? The former, of course!
Why should a system teach you strategies for all three types of trading? Shouldn’t it specialize in just one field?
Well, yes and no. If you feel you’re better adept to specializing in just one field, then go ahead. You’re not wrong to do so. But I’m a firm believer of the “never put all your eggs in one basket” concept.
For instance, if you opt to specialize in daily trading, you risk losing a lot if the market is extremely volatile, or not in your favor, for that particular day, or maybe a few days straight. However, the nature of volatility (most of the time at least) is such that it doesn’t last for an extended period. If not, you wouldn’t call it volatility now, would you?
Using this fact, wouldn’t it be safe to say that over a week, you’re much less likely to experience turbulence in the market? And wouldn’t that hence be much safer for you, as a trader?
Volatility can occur in any of the three different types of trading, which is why you should always choose to spread your money out and invest in the three different types.
This is probably one of the most valuable strategies a forex trading system for newbies should have. And try to make own strategy with free no deposit welcome bonus
You might think that I’m going bonkers, but I’m not. If the designer of a particular forex trading system is so confident in his work, Why would he be unwilling to provide his potential clients with a period (a week or so at least) for them to tinker around with the what he has to offer, at an affordable (if not for free) price?
It’s common sense! If I wanted to build my base of clients in this particular field, I’d want to show them that I know what I’m doing. So I’d let them try out my system for a week or so with an option of subscribing to it once the trial period runs out.
If the systems you’re looking at do not have such risk free trial periods, you shouldn’t bother considering them. It just shows that they, as forex traders, are not confident of what they’re doing. And it also suggests that they don’t profit regularly enough. Hell, it’s safe enough to say that they’re merely trying to make a quick buck from you!
So there you have. A forex trading system for newbies should, at the very least adhere to the points mentioned above. If the one you’re looking at doesn’t, then it isn’t worth a dime of your
Michel Kalib is an online forex trader and a mentor. He has been working for more than 8 years in the Forex industry.