Forex trading is one of the most lucrative professions in todayís world. Every day the number of retail traders are jumping into the online trading community to earn more money. But when it comes to real life trading, 95% of the traders are losing money. Having access to the online trading industry doesnít mean you will become a profitable trader. You have to understand the complex nature of this market to earn a consistent profit. The retail traders are always one step ahead of taking the risk. But the pro traders are always following the safe system to trade this market. In order to become a successful trader, you have to learn few things with an extreme level of precision. The retail traders often get emotional in live currency trading and lose a significant portion of their investment. But do you really think this is the perfect way to trade this market? You have to lock your emotions in an iron cage to become successful at currency trading.

Learn the chart pattern
There are many ways of trading this market but most of the new traders are busy with the indicator based trading system. They donít have enough knowledge to trade this market using the key support and resistance level. For this reason, they always follow the indicators reading to trade this market. But if you do so, you will never be able to catch the large market movements. Learning the different chart pattern is really easy. If you want to establish your career in the Forex market, you need to have a clear idea about the reliable chart pattern.

There are two basic types of chart pattern in the currency market. The first one is continuation pattern and the second one is a reversal. Being a new trader you should never try to trade the reversal chart pattern. Try to place your trade with managed risk by using the continuation pattern. You have to know the associated risk in fx CFD trading. However, if you still want to trade the reversal chart pattern make sure you have demo trade the market to develop a strong level of confidence. Without practicing hard it will be almost impossible for you to make money.

Study different time
You canít make a profit by using a single chart pattern. You have to study different time frame so that you can easily filter out the false trading signals. This type of technique is often known as multiple time frame analysis. Multiple time frame analysis is one of the easiest ways to filter false signals in the currency market. But when you study different time frame signals, you have to give more priority to the daily time frame data. Try to become a long-term trader and avoid lower time frame trading. Make sure you are trading with the market trend to save your investment.

Talk with the professional traders
The professional traders are always one step ahead in the retail trading industry. They know very well how to place a trade with managed risk. Being a new trader you should join some professional trading community to gain more knowledge. The expert traders are more experience and they will be able to give you a clear guideline. Many retail traders have become a profitable trader by seeking help from the senior traders. But before you do so make sure that the expert traders have a valid track record in the retail trading industry.

Donít follow aggressive trading system
The retail traders are always busy with placing trades. They often over trade the market to make more money. But this eventually blows their trading account. You have to follow the conservative way of trading to earn a consistent profit. Never try to become a rich person based on currency trading. Consider this profession as your business and follow the safe way of trading. Focus on proper education to become a better trader.