You need to understand that hedge fund managers are always on their nerve’s edge. They constantly look for strategies that work.These are the steps that a hedge fund manager takes to train new traders. Watch this Freedom Forex Formula video that shows a simple FREE forex method that makes 7,913 pips from just one market move. Download this special manuscipt that explains this forex method in step by step detail FREE. Download these Swing Trading Informants FREE. Master these Forex Charts!
You should decide whether you want to range trade or trend trade? Many hedge fund managers are trend following traders. If you want to become a trend trader than you need to become a master of predicting and anticipating trends in your favorite currency pairs. If you want to be a contrarian trader and range trade, than you should understand how to scalp.
Learn the art of entry and exit. You will need to learn technical analysis for this. Technical analysis is essential for your success. Should it be multiple entry, multiple exits? Should it be single entry, single exit? Should it be multiple entries, single exit? Should it be single entry, multiple exits?
You should learn money management principles in depth. It is good money management principles and their consistent application that will make you survive in the long run. Never ever try to put more than 3% of your equity at stake at one time. Understand how to calculate the reward/risk ratio for each trade. Never trade if the reward/risk ratio is below 3/1.
Open a mini account and try to test it live with a small amount of money. This way you will not lose much money but will be playing against your emotions.
The key here is to know exactly what type of market environment your strategy performs well in and what type of market environment your strategy fails in, because only then will you know when it is time to pull the plug.
The last step of thinking or trading like a hedge fund manager is self reflection. Often times we become so absorbed with trading that we do not notice the obvious.
This is why it is important to spend some time on a weekly or monthly basis to go over or reflect on your trading. You need to establish a certain ROI level for yourself and keep on tweaking your trading strategies until you start achieving that figure .