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Forex » Lieutenant - Strategize
 
 

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Strategize

So now you know how to fire your weapon. You know whom to take to battle with you, and you know when the conditions are right for you to wage war.  Now it’s time to learn how to hit a target.

Strategy is a must. You don’t want to just run into the battlefields like a mad man firing your weapon at anything you think is a moving target. You’ll leave yourself exposed and the enemy will take you out.

You don’t need to stand out. The greatest of traders are unknown faceless warriors. They fight for themselves. They fight for their family. They don’t need recognition or prizes. The have their goals in mind and they accomplish them successfully.

So when you enter the field, you will first survey the ongoing battle that is being waged. Carefully, you will find a target. You will then move in swiftly on that target and you will do your absolute best to return to the sidelines unscathed.

So how do you find your target? You must first pick the specific battlefield. Some traders fight on numerous fronts. And it’s a common mistake for a lot of new traders. And for many of these, they fail hard and fast.

It is the recommendation of the FX Trading Network that you start with one currency pair. When you become consistently profitable on that one pair, then you can consider adding another pair.

More Lessons

1. Recruit - What is Forex?
2. Private - How does Forex Work?
3. Private First Class - Selecting a Broker
4. Corporal - Pick a Chart, Any Chart
5. Sergeant - The Fundie vs The Techie
6. Lieutenant - Strategize
7. Captain - Indicators
8. Major - Playing with Price Action
9. Colonel - Developing your Plan
10. General - Putting it all Together