How to Master the Art of Forex Trading Profession

This is one of the most popular articles on the internet but sadly no one gives you clear information to learn to trade the market. 

But if you read this article very carefully you will understand how to make a huge profit from this market without losing your investment. As an investor, you need to follow some basic rules. Trading is often called as the most complex business in the world. 

You need to fight with your emotions to execute the best trade at the most extreme market conditions. Now let’s learn about the key steps which will help you to become a profitable trader in the Australian trading community.

Do you really want to become a trader?

This is is the most important question you need to ask yourself? There are many challenges you need to overcome to become a successful trader. 

Can you really take this heat? If so, trading is the right profession for you. Though 90% of the traders are losing money there is nothing to be afraid of. 

Those who trade the market with 2% risk factors will never blow their account. But there a slight change to the universal 2% rule of risk management. Instead of risking 2% per trade you need to risk 2% per week. 

By this way, you will be able to stop overtrading the market. Focus on quality trade execution in the higher time frame.

Find a professional trader

Finding a successful trader is very hard. But if you want to become successful within a very short period of time you need to find an expert Aussie trader who will guide you the initial path. 




Things are really very easy in the Forex market but if you don’t trade with discipline it won’t take long to blow your account. This is where the professionals will help you. 

Forex trading is nothing but dealing with your emotions and managing your trades in a very organized way.

Demo trade the market for six months

You need to use the demo accounts for at least six months. Those who start trading with real money doesn’t really understand how this market works. 

Learning from your mistakes as a new trader by losing money continuously is very hard. But if you simply use the virtual dollar you can trade as long as you want. This is just like your practice field where you can learn about the complexity of this market. 

Some professional brokerage firms have limitations on the demo accounts but this is absolutely fine. Demo trade the market with the average brokerage firm to learn to trade. 

Once you develop a stable trading strategy switch back to your real account and start executing quality trades with managed risk.

Stop being a trade addict

You need to stop being a trade addict or else you will never succeed. Some traders always stick to their chart and things this will help them to better understand the market. 

But in reality, this things always make things worse. You have to trade in an organized way. Follow a trading routine and you will be able to learn the details of the market. 

Majority of the traders don’t know the importance of different trading sessions. They are always taking a huge risk at the wrong time. But if you chose the correct pair in the correct trading session you will have higher chance to win trades.

Forget about EAs and bots

Last but not the least you need to forget about EAs and bots. No bots have the capacity to predict the price movement with 100% accuracy. Those who will guarantee 100% profit, stay 100 feet away from them. 

Try to learn the manual trading strategy as it is one of the best ways to find good trades. Be a conservative trader and you will see significant improvement in your trading system.

How To Evaluate TD Ameritrade

When you are a day trader, one of the most important decisions you can make is to find the right online broker to use to make and execute your trades. There is no reason to just go with whatever one you start with or whatever your day trading mentors suggest. 

It pays to do you research and try to figure out the best online broker for your habits, your strategies and your trading style.

TD Ameritrade

TD Ameritrade could be that broker. The company has vast experience in the online trading space and could be just what you need in order to make real money as a day trader. 

The way that they organize the Thinkorswim platform for ease of use and the ability for users to customize their interface is vital to the platforms ability to attract users.

Day Traders

Day traders need to be able to react quickly and efficiently. Being able to customize your interface is a great way to make your broker work for you. Having hot keys in place that will help you make trades as soon as you can see the path is a great way to make sure that your broker makes you efficient as possible. 

Volatility is such an important way for day traders to make money in the market and being able to keep up with that vitality is essential to being a profitable trader.

Comissions On Trades

One strike against TD Ameritrade is the cost of the trades. Commissions on trades in TD Ameritrade can go from $6.99 to $9.99. Considering margins, the markup on those trades are not going to be good for your profits. 



Trade costs is just one of the factors that you need to understand when choosing a broker. The quality of the tools and the effectiveness of the research are two big items that need to be ticked off before you get to that level.

Thinkorswim Platform

The technical studies that TD Ameritrade can offer for its thinkorswim platform are some of the most numerous in the industry. That could be a real boon for day traders because of the way that those technical indicators can help inform trades. 

The real-time data available for TD Ameritrade users is robust as well. Another point for day trade users.

2 Trading Platforms

TD Ameritrade also has two seperate mobile apps for trading, one designed for casual investors and one designed for active traders. The range of options for mobile traders makes TD Ameritrade on of the most forward thinking companies in the space. 

Being able to trade on your phone gives traders great access to the market and allows traders to react quickly to breaking news and new information. Traders can even link the mobile app ro their desktop setup, so trading can be seamless and easy for those on the go.

Making the decision to go with a particular online broker can be hard for traders at first. But doing research and testing out the potential brokers is a fun and informative process.

What is Forex and How to Get Started?

Benefit from Forex

There are various trading platforms which an investor can employ in order to try and maximise profit when they deal in investments. One of these is forex/FX. Forex refers to the foreign exchange market and is by sheer volume the largest market for trading in the world, with the big international banks as the main traders. 

Private individuals as well as companies are also assisted by non-bank forex entities. Essentially, Forex is about trading currencies whereby one currency is bought and another sold, simultaneously. 

Speculation is often at the heart of forex deals, meaning that the buyers/sellers often have no intention of taking delivery of the currency they are trading in; the whole idea is to speculate with the currency and to try and make it worth their while that way.

Getting Started

When you want to start using forex as an investment tool forex as an investment tool, there are certain ways to go about the process – free webinars or you can attend seminars, which will be of great benefit. Often big companies will lead you through the process by showing you the ropes by way of a risk-free practise account. 

 The internet is also a very helpful tool to get you started and of course, well-known names in the world of investment markets will give great information. Some advice: Remember that past successes never guarantee success/profit in the future. Forex, like all monetary vehicles, depends on current conditions in the market, and should be viewed as such.

Trustworthy Brokers

To help you to get going, it is a good idea to choose a trustworthy broker such as CMC Markets that will offer you lower ‘spreads’ (i.e. the difference between buying and selling currency), someone who is registered with a reliable body that oversees his/her/their activities according to internationally accepted procedures and support as far as news and data are concerned.

Know the Terminology

Before you start trading, make sure you understand some basic terms such as ‘Ask Price’ (the price at which you can buy a currency) and ‘Bid Price’ (the price at which you can sell the currency) and ‘currency rates’ (the rate at which one currency trades against another, e.g. the rate at which the British Pound trades against the US Dollar).

These are available online, and with the help (if necessary) of a reliable broker, you should be able to get a good grasp of the terminology and processes before you commit. 

Once you begin, you will be able to follow which economies are strong and which are not; you will want to get rid of those currencies which are perceived to be weak and, vice versa, you will want to acquire the currencies of those stronger economies. On a daily basis follow the trends and ask for advice from the specialists when necessary.

Tips

As you are starting out, remember the following: Do not gamble, i.e. do not commit to trade more than you are willing to sacrifice. Make sure you have a reputable broker and search the internet for basic terms and their meaning before you start trading. Once you have a basic grasp of the process, start slowly until you feel comfortable to trade more aggressively.