Forex Methods – Forex Academy

Let’s be honest, if we could, the majority of us would do everything the lazy way. Why put in the effort and time if you can do it much quicker and with half the effort? This isn’t any different when it comes to forex, with the accessibility that it has now, there are a lot more new traders coming into the trading world, and many of them are not here to put the effort in. Instead, they are here to simply try and take some profits. There is nothing wrong with simply wanting profit or to trade for only the money, many people do this, but when you come into something as huge as forex, you will most likely expect to put in a bit of work, but there are things that you can do that take away a lot of the effort and time that it takes to trade. So that is what we are going to be looking at today, how you can trade, the lazy way.

Gambling

The first and most obvious way to trade the lazy way is to do something that is not recommended at all, and that is to simply place trades without doing any analysis. Doing it this way allows you to trade with very little effort, all you need to do is actually place the trade and it also saves you time from having to do all of the analysis, something that can potentially take a long time to do. Trading this way is a sure-fire way to a loss of your account and let’s be honest, it is simply gambling. So no matter how lazy you are, we would recommend simply not trading this way, instead, go and do some sports betting, you will have more success gambling that way.

Social Trading

Something that has really started to take off in the last few years is social trading, this is where you go onto one of the many platforms that are available, look at the traders that are currently trading and then find the one you like. Once you have found them, you simply subscribe to their profile and your account will start copying their trades. The reason why this is known as a social platform is that you are able to message and communicate with them in order to get some feedback and give your ideas, you can chop and change who you follow at any time from the available traders. This saves you time and effort because all that you are doing is signing up, selecting a trader to follow, and then pressing a single button, all the trades and everything else will then be simply copied from the trader, no effort on your side. The downside to this is that you are fully trusting the other trader, you have no control over the trades so you are effectively giving your account to the other person to trade.

Signals

Another thing that a lot of people seem to be doing lately is to follow signals, this takes little more front than simply copying someone, but signals are where a trader has basically done all the research for you, they then publish the trade that they recommend that you take, it is then up to you to actually put on the trade. So while there is a bit of effort, you are saving a lot of time in avoiding the analysis side of things. Of course, you are trusting that the analysis done by the trader is correct as you are simply blindly following the signal. You can of course do your own research to help confirm it, but then it isn’t quite as lazy is it?

Expert Advisors

There are also expert advisors, these are bits of software that people also refer to as bots. They are often based around an indicator or a number of different indicators and will then take action and open and close trades based on those indicators. So unlike indicators themselves, the EA will actively place and close trades rather than just show you information. This takes away all of the work and time that it takes to trade as the machine will do it for you, it will also trade when you sleep which makes them very desirable. Of course, you are putting your trust in the robot, they cannot think or adapt very well so when the markets change you will need to be there to make changes or to turn it off to avoid larger losses. There is also a startup cost to this method as you will need to purchase torrent the EA, but once that is done, you do not need to put much effort or time in at all.

Using Single Indicators

When it comes to trading, many traders will recommend that you use a lot of different indicators, this brings you a lot of different bits of information that can help you to work out what to trade. The problem is that with each new indicator, it is adding to the amount of time that you will be spending looking at the info and working out how it relates to your trade. So what you can do instead is to take a single indicator and trade with that. It will mean that your trades won’t be quite as reliable or accurate as with more but you will be saving time as you only need to look at that one indicator instead of many. This can be a little risky, and could even be considered as a gamble, but at least you are having one indicator rather than going completely blind, so it is one step further than gambling itself.

Those are some of the lazy ways to trade, if you are planning on doing this then ensure that you look into who you are copying and what EA you are buying, you also need to be comfortable with the fact that you will have very little control over your own trading account as you are trusting someone or something else. It will however give you a lot of time to do things for yourself rather than trading, these methods work well for those that are not really interested in trading themselves or the experience of it, but for those that are simply looking for the profits that come with trading.

We have seen people burning up on jobs, screaming “I can’t work on this job anymore I have to get out!” We’ve also seen people losing large sums of money trading on Forex. You could see the desperation and you could read on their faces. “How do I get this money back?” or “My expenses are $2,000 dollars a month, how long do I have to trade to make that sum?” Most people don’t understand that answer to these questions comes with – patience. Which is critical in the trading game.

The lack of patience, it’s something that we all are affected with, more or less. There is one feature of impatience, that is the killer – desperation. That is what is blocking us from achieving success. Something that we need to discard. It is, more than anything, negative that is impeding progress in trading. Desperation causes us to make irrational decisions. Extreme decisions. What would you do if someone would offer you a job that would satisfy you professionally and economically, but only after 5 years building on it with lots of crashes and self-doubts? Would you still be interested?

This article is conceived in such a way to help you get there faster, relieved from impatience. Understand that when you start trading professionally, even after all tests from trading firms, it is just the beginning and there is limited money for the trading accounts. It takes a strong work ethic. That is not to torture you for fun, it is there with a purpose, to see how you handle real money, as training with demos is worlds apart from real trading. You cannot rely on luck and trading firms are there to make money, thus, they are good at managing risks, so you have to get the right to be able to earn more, to show them you are a good investment, consistently. And being consistent is really hard, as the market itself, is always fluctuating. That’s a big step, reliability.

Acknowledge that 90% of traders cannot escape that constant, dull tick of desperation in their heads, that interferes with their trades. Being able to place calculated, disciplined trades with low risk, at the right moment with constant desperation chaining you is impossible, and it gets worse with years. You have lost accounts again and again, but you know Forex is a place where millions can be made, and you are getting anxious and frustrated with your Forex trading endeavors. That gets people in a panic mode, pushes them into making irrational decisions and, not just, financial mistakes.

Impatience, creating unrealistic expectations for yourself, the desperation to get good results, it all leads to disasters. Don’t invest more money that you can’t handle, hunger is good when it is calculated. For those that endure and survive, those disasters can be a catalyst to expand their knowledge on trading. And don’t believe in the myth of quick recovery. Sure, some people are very lucky, odds are that somebody has to win lottery eventually, but that’s not a smart move. Desperation for funds recovery leads to even more losses, like gravity pull into the losers pit.

To some degree, traders who in the beginning use the emotions to resist the acceptance of failure are the ones who win at the end. After a while, they become more like scientists, objectivity, research, experiments, tests, and trying out new things are infused in their minds. But, it cannot be done instantly. Train yourself, stop being desperate. Try to think in this manner “So, you lost an account, man up, don’t cry about it and don’t chase it, learn from it.” Most other problems in trading can be fixed by placing a good system to work and learning how to uphold it. It is great to have the drive, to look forward to something when you wake up in the morning, but that has to be backed up by having realistic expectations. Motivation is great until it turns into desperation, when that happens, it is just a push in the wrong direction. Always think about what went wrong, analyze your trades, trade based on rules that keep you emotionally solid.

This all applies to all stages in life. If you are young, and you heard that trading on Forex is easy money, and you are desperate for independence, that is great motivation, but it can mislead you. Go to college instead if you can, you can practice Forex and learn something in college. At the end of school, you can be ready for a Forex job. If you are contemplating leaving your day job and desperate on living a luxurious lifestyle, you are digging into every chance to make trades on Forex. Stop and think, am I having realistic expectations, am I being hazardous? If you are a pro Forex trader, in a streak of bad trades you will become desperate to compensate losses.

This is the game where you cannot cheat to be successful, it is long. It needs time invested and it is rough. If you see yourself living off Forex trading, you must learn to deal with desperation and maintain healthy motivation. That is the way to be responsible with your money and money entrusted in you. You have no options here.