The title looks like we are going to tell you about the cheat code of Forex trading. But, that would be an injustice to the others who didn’t read this article. The truth is we are just going to discuss the different position of a trader. If you are a novice trader or thinking of starting, it would be really interesting for you. So, stay tuned with us as we continue on this journey of mystery. By the way, it is not that much mysterious. Half of the readers would already know by now the qualities of different level traders. For them, this is just a recap of the same old story. We hope you will stick with us until the end.
The beginning is the main critical chapter for a trader. Although profit from trades is not certain for a trader, in the beginning, level it is more uncertain. Because beginners know knows very little about the market and they have a really week edge for trading. So, they have to face many loses from their trades. Some are even forced to quit from this profession.
But, the sun shines over them who stick onto their passion for trading. Those who can overcome the dilemma of the losses at the start of their trading can continue their journey to the next level. But they have to improvise. Otherwise, you won’t be eligible for the next level. So, keep on practicing and try to improve your trading edge.
The core concept
Before you read the rest of this article, you need to understand the core concept of trading. Everyone trades only to make money and secure their financial freedom. Even the professional traders are executing quality trades in their Forex trading account with precise risk factors. Trading is nothing but running the most sophisticated business in the world. If you do some research you will understand the majority of the successful traders are very good at managing their risk. They always look for high-risk reward trade setup since it’s the only way to save their investment. Even after losing most of the trades, you can easily make a profit by using proper money management.
The expert level
After the initial level is the expert level. We can say here traders become a semi-pro. Their instinct becomes sharp and adaptive to the market and they can sense the price change really well. Their trading plan becomes stronger than before and the trading edge becomes more profound. Overall, you will become a part of the trading business. You will have a proper schedule rather than an irregular one from the beginning.
Financially an expert trader is also established. Well, at least he or she doesn’t have to think about giving up trading for good. In fact, an expert trader can easily bear his or her daily monthly expense from trading only. Now your mouth would be watering for the test of trading of Forex. Just remember if you can cross the beginner’s level and improvise your strategy properly, you will surely become an expert in this business.
The master traders
Now, we come to the master trading level. Master traders are the legends of trading. If you ever search for a master trader on the internet, you would already know. Their lots are not like the typical trader’s one. They invest in million and the amount of profit in the same region. Their territory is so big that they have a significant trading technique. It is called ‘Position Trading’. A position trader keeps their trade live for almost six months to a year. You can understand how big their trading is by only looking at their setup. If you are willing to become a master trader, dedication is a must. And you have to be committed to our trading.