Phindulo Mbedzi

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HERE Are Two Categories Of Traders In The Forex Market;

1. Those who have just the basic knowledge of trading (beginner traders) and

2. Those who have mastered the technical and fundamental aspect of trading (professional traders)

Those with the basic knowledge are those people who understand what forex terminologies mean like: buy, sell, take partial profit, stop loss, take profit, stop loss at break even, spread etc

They don't know how to analyze the market and enter trades on their own, instead they end up paying the pro traders and depend on them for their signals.

Does this mean they don't make money?

Far from it, a lot of people in this category make money or even more than the pro traders. Why is because, your equity will determine how much you are willing to risk.

What about those with the technical knowledge.

This ones have gone ahead to learn how the market works, they understand chart patterns, candlesticks, support and resistance, price action etc and know how to position each one to make the right decision.

These guys are the one who painstakingly work day and night trying to understand market positions and when to enter a trade.

It takes years of practice to get to this level, and this is the reason why those who provide signals do so with a price.

The advantage of having this knowledge is that you don't have to depend on anyone for your trades, you trade whenever the market aligns with your strategy.

One good thing about forex trading is that, there is room for everyone to make money.

As a beginner, you can make as much money as a pro with the right information.

A lot of people trading the market just have the basic knowledge and they are doing fine.

Everyone mustn't be a pro, so don't wait until you have learnt everything in forex to take a shot at it.

If you aren't a pro trader, pay those with the skills to provide you with informations to trade with.

At the end of the day, how much you make depends on your EQUITY.

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