by George Kramer

forex t forex traders ave to know these 7 things before they can start trading:

1) Don’t use indicators – They are just blocking your view of what’s important. Learn price action and you’ll be miles ahead of the competition.

2) Use sound money management principles – The more conservative a trader you are, the better off you are going to be. Don’t try to hit a home run with every trade, because it never works out that way. You’ve got to be prepared for the long haul, if you want to make it in this business.

3) Don’t stay on demos too long – It’s normal to trade on demos when you are first starting out. But you’ve got to cut the chord quickly. trading ith fake money cannot prepare you what its like when you’re trading for real. There are emotions involved when real money at stake.

4) Keep your emotions under control – There as may traders with unbelievable potential. They can really take apart the market. But unfortunately they don’t know how to control their feelings. The moment you panic, is the moment you realize you are not cut out for this.

5) Use Mini Accounts When First Starting Off – You need to know what it’s like playing for real money, when you get done with demos. But playing with full lots is not the way to do it. Make sure you start off nice and slow.

6) A Margin Ratio of 200:1 – I thinks that gives you enough room to trade comfortably without having to worry about getting a margin call.

7) Prepare for news – There is always news happening every single day in the world. You have to be prepared. Know what analysts are expecting and what happens if actual results don’t match expectations.

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