If you want to learn to trade the forex or stock markets it takes discipline and patience. All beginning traders need to learn what the markets do and how news can effect the trends in the forex markets. You should understand that to be successful you need a trading plan and as much education that you can get before trying to trade these markets. You should look for all the knowledge and wisdom you can find from older experienced forex or stock traders. Preserving your capitol should be your first concern before entering a trade. By having experience you will gain an advantage over the new traders who trade without any discipline.

New forex traders that are not experienced can lose all their capitol in a short time. You need to learn what to do and when to make trades. There are not good trades to be made everyday so you need to learn patience and discipline in your trading. This is the mistake most new forex traders make. They take trades that are not good and end up losing money by trading out of boredom. It takes time to learn the markets and you need to set aside the time to learn. Charts and technical indicators are the most important things to learn first. Pick a couple indicators like the MACD or CCI and learn them inside and out.

Most forex and stock brokers have very good trading platforms that you can learn these types of indicators on. Take the time to learn when it is time to buy and when to preserve your trading capitol. How much time you spend is up to you but the more time spent learning how to trade the better. You need to understand the losses are part of trading the forex or stock market. Write down why you took a loss and learn from the experience. This is how you will become more profitable in your trading. Make sure to understand the use of stop losses and how to use a trailing stop which will lead to more profits.

It is totally stupid to try and start trading without some kind of trading plan. Learn what you need to do to make yourself successful and put it in your stock or forex plan and review it weekly. Adjust your trading plan as needed this will make you a better trader overall and keep emotions out of trading. Make sure to write down your successes and what made that trade earn money. This is key to continuing to have profitable trades. You should make sure that you work in percentages and not money. An example would be to try and make 2% on each trade and set your stop loss at 1%. If you are in the money move your trailing stop 2% at a time. This is all part of having a trading plan and preserving you money on each forex or stock trade.