Step-by-Step Practical Guide

Step Two: Do Your Homework First

The FOREX trading is one of the most excited and lucrative business you can be involved during your lifetime. You are going to enjoy all aspects of it, if you do your baby steps in the market carefully. Follow the lessons of your Mentor, as described in the Step One: Choose Your Mentor.

It cannot be stressed enough on the importance of enjoying trading. One cannot achieve success and proficiency in any business if there is no inner happiness and joy, coming from what you do and the way you do it. There are many reasons to experience that subtle inner feeling while dealing with currency trading.

FOREX market offers many incredible advantages, compared to any other business. It is available 24/7. Opens on Sunday, 2pm New York time and closes on Friday 4pm. You can work anytime you want within that period. Currency trading offers the best leverage for trading. You have control to assets up to 100 times larger then the amount of money invested in your account. And the list goes on

It all sound great and can be a perfect source of additional income, independent private business and the most important, to give you that deep inner satisfaction of what you do and the way you do it.

There is an important moment here though; FOREX will be really great for you if you do your homework diligently. The market is very risky for the people who enter it driven by their passion, only. Unfortunately, that is the reality for almost 95% of the new traders. They get in prematurely, get burned, back up and heel their wounds. Only few of them dare to come back again.

The only reason, you are reading that article is to be saved from entering that business unprepared. So, do your homework first. Prepare yourself for the battle.

You need to invest three things here: your TIME, your ENERGY and MONEY.

Lets begin with TIME. Look at your current daily schedule. Write down what kind of activity you go through during the day and how much time you spent for each one. Rank those activities, based on their importance for you and see what you can get rid of. Replace them with time for FOREX. 45 to 90 minutes per day is enough. Write down your decision.

Stick to the above decision for at least 3-4 weeks before to do any changes. Now concentrate on ENERGY. Every activity needs your personal energy in order to be accomplished. Energy includes not only your physical power, but emotional; and mental power, too.

We know from Step One: Choose Your Mentor, that FOREX market has no physical place of execution. It all happens in your mind. Here comes the importance of building all three aspects of energy; physical, emotional and mental in a proper way.

Lets start with mental preparation as the most important aspect. Deep inside of your mind there is a place where all the information about the past, present and future is stored. That has been thought for ages from the spiritual gurus and confirmed by the recent quantum physics discoveries.

That is correct; you have all the information you need in order to win in every trade. You just have to tune yourself closer and closer to that point within. How you do that? In one of the next articles youll find detailed steps on that aspect.

Consider every one of your FOREX session as a battle. To win that battle you need to build an ability to see clearly what is going on the field. That takes time and a lot of practice. Do not be in a hurry. Remember, you want to build a castle, not a tool shed. Build on a solid base. The base is within you. It consists of all your knowledge, understandings and practical experience.

The second aspect of your personal power deals with emotional preparation. Before to make any practical step, put yourself in a positive state of mind. Find a way to trigger that state again when you catch yourself down during the session. Creating a habit of switching to positive emotions during the battle is the secret key number one of every successful trader.

Physical preparation before every session, as a third aspect of your personal energy, is a must do habit. Even if you are physically challenged person you can train your eyes, at least. There is no excuse to miss it. By intensive exercising for 5-15 minutes before the session you boost not only your physical power but the emotional and mental power, too. It is very important step on your way to success in FOREX.

Here comes the MONEY. As you know it is all about the money, right? Wrong! To put the money as a number one goal is a sure way to loose all. Look to the money as a means to get you to your real goal. Your goal has to be defined very clear. The way to reach that point is to ask your self WHY?

Why you are getting in here? Why you need the money? Why you want to buy that thing? It is all about feeling happy, satisfied and completed. And those are all inside of you.

Now, the most important question is: If it is all inside, can I get it now? Yes, you sure do! Happiness is the way! Youll get detailed article on that matter, too.

Remember, MONEY will follow you as per your goals. Do not be afraid to raise the level of your goals.

Teo Gee