Three Steps to Becoming an Independent Trader:

Ok you now know what it would be like to be either a dependent trader or an independent trader and I’m sure you realize that being the latter will be the best trader to be, not to mention more profitable. Here are three steps to help you get there.

Step One: Make a trading plan or get a good one from a professional trader and decide how you will trade it. Is it once a week end of day trading, or is it a 30 minute chart type trading (Daytrading) you need to figure out what will work best for you. Once you decide this get the correct method to fit the time frame and be sure to include risk and money management into the plan.

Step Two: When you decide to learn how to become an independent trader you will need to find the best sources for education. There are lots here at global money tools the thing to do is find one that is going to work for you and that you trust. It should also be understandable and teach you a simple effective method to trade by. When you do this you will then apply it on your own as if it is yours.

Step Three: When you decide to undertake this profession you will have to find out what will work for you and you will need to know how to select proper methodologies. This will require testing different methods and it will mean you have to develop a bias to one or more and implement them for the best chance of success.

This will all require investment in your time and financial investment but like all education it has a cost. Here is a tip: if you lose money in the markets because you wouldn’t invest money in yourself you will still have to eventually spend money on your education. Do it from the start and get the odds on your side right away.

Follow the rules of your proven methodologies and plan it is the only thing you MUST do to truly become an Independent Forex Trader.