Learning to Trade the Forex Market 2
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Flying a plane for real and trading forex for real are similar in many ways:
If you are reckless flying the plane you will get yourself killed. If you are reckless trading forex you will lose all your money
Flying entails taking off, obeying the rules of safe flying, and landing safely. Forex trading entails entering a trade, controlling your risk, and exiting safely.
When flying an airplane your success requires you get all three (takeoff, safety, and landing) right. In forex trading your success requires that you get all three (entry, risk, and exit) right
The best pilots always put safety first. The best forex traders always put safety first.
Flying a plane and trading forex for real are different in one key way
To become a pilot there is government mandated formal education and professional training requirements; as a result of this formal education and professional training, few pilots crash and burn. To become a real money forex trader there is no government mandated formal education and no professional training requirements; as a result, almost all forex traders crash and burn
Formal education and professional training
Whether you want to be a jet fighter pilot or a weekend recreational pilot of a two-seater, you need formal education and professional training to insure your safety and success. If you want to become a full-time forex trader, a part-time forex trader, or just dabble from time to time you need at least some education and training to insure your safety and success; especially if you're serious about making money from forex trading.
Jimmy Young
Source : eurusdtrader.com
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