Forex can be rewarding and even a fun challenge once you have mastered the art of trading. Until then though, do not quit your day job. Since the advent of electronic trading, people have been flocking to forex brokers to open accounts. Most of these beginners struggle right from the start only to eventually surrender concluding that they cannot outsmart the market. Guiding tips on hitechchronicle.com.
The forex market is huge. It is massive considering the amount of money which moves through it daily – $5.3 trillion. The market is decentralized and retail investors (small investors) own just 5.5% of it, constituting $282 billion every day. The big banks and institutions control the lion’s share of the forex market. Read a relevant article, click dailyforexreport.com.
However, a retail investor can be very successful trading forex. Most simply need guidance. It would be nice if you could go to Wall Street and hire a trading coach, but that is probably not practical. What traders can do is take advantage of NetPicks. In 1996 expert forex trader Mr. Mark Soberman founded NetPicks to help people new to trading.
NetPicks makes use of their video-based training regimen to get traders to think about the forex market as the pros do. The program covers all the bases, from fundamental to technical analysis. NetPicks coaches are available to reinforce the information learned from the videos. Each coach is an active trader with years of experience as well.
The program encourages traders to understand that trading is all about managing risk (http://www.netpicks.com/trading-tips/). Preservation of capital and thinking defensively is contrary to the way most traders tend to approach the forex market. Mark Soberman is helping many new and aspiring professional traders to level up by adjusting their trading mindset.
NetPicks is not only useful for novices. Traders who have struggled in their trading have also benefitted by applying the concepts in the NetPicks training program. Sometimes it is just a minor fault in a trader’s approach which is holding him or her back. Your trading plan must first deliver what is known as “positive expectancy” if you are to succeed as a trader. With coaching and a solid system “positive expectancy” is what you can expect to achieve.
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