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Dec 2020

3 Simple Ways to Make Trading Your Top Priority

In his book The Science of Currency Trading, Forex Trader #2, Michael J. Webster indicated that he didn't call it The Science of Currency Trading a book for beginners because that didn't make sense. He didn't call it The Science of Currency Trading a book for investors because that would be too obvious. And he definitely didn't call it the Proper Study of currency trading or the Practice of currency trading or the Study of currency trading psychology and discipline or anything else that would imply that it's a complicated subject to get into and master. Why? Because you don't need to learn all the complicated stuff. You just need to understand the basic concepts.

If you've never made any money on the stock market, I don't need to tell you that you've been awfully mistaken if you think that the only way you can make money in trading is by learning complex computer software programs like the Forex Megadroid or the FAP Turbo or the Forex MegaDroid. Those are trading robots with artificial intelligence that will automatically make trades for you based on a pre-programmed set of rules or strategies that they've been programmed to follow. Once you set up those robots and make use of them, you have to continue to follow their strategies. And most traders are totally disheartened when that happens and even exclaim: "Why did I ever try to make money trading using those stupid robots?" The answer is that you just need to start following a few simple currency trading systems psychology and discipline.

Basic trading psychology says that traders need to trade in currencies based on three specific trading strategies: technical analysis, fundamental analysis, and psychological or behavioral trading. Technical analysis is a study of price action, which means that the prices move in patterns which repeat themselves. Fundamental analysis is all about choosing a currency based on its relative strength and weakness according to some psychological or behavioral indicator. Last, but not least, traders should make trading their top priority as it is easy money.