When 95% of traders lose money, what makes you think you can win? To see your chances of succeeding as a Forex trader, here is a checklist for you to see and become one of the elite traders, who make tremendous long term profits.
Following are a few ways to lose money. You may wish to change your mind immediately if you are thinking of trying any of them. Do this to avoid losses and continue your Forex education!
1. Following a Forex Robot with Simulated Gains - You can apparently achieve success without any effort as promised by these. You are asked to accept their track records simulated going backwards. Your equity will get destroyed by trying them.
2. Day trading and Scalping - Due to the short term volatility, simply doesn't work. Like robots, even people selling these always have simulated track records.
Many more of these all fall into the category of trying to find someone else to give you success. This does not work in Forex markets.
Apart from needing a trading edge, you also have to understand ways and reasons of it leading you to success. Let's look at this in detail.
The combination of a simple robust helping you to understand and trade with discipline is what Forex trading is all about. Success comes from within.
You need to know what you are doing to trade with discipline. This translates into having confidence, which you definitely don't get from someone telling you what to do. You get confidence by your own knowledge and learning.
As you have to keep executing trading signals through losing periods, discipline is hard. This has to be continued till you hit a home run, even when the market is fooling you and taking your money. What separates out your Forex trading system from the 95% losers is your trading edge. You can ask what is your trading edge and how will it help you beat the majority? You don't have one if you don't know what it is.
Few succeed in simple looking Forex trading. These elements are present in the winners Forex trading strategy: Using simple robust Forex trading system - Having solid grounding in the basics of Forex trading - Knowing exactly why their system will lead them to success - Having confidence and discipline to stick with their plan - Knowing only they are responsible for their Forex trading success.
You have to stand alone, be confident of your actions and be disciplined to follow your plan in Forex trading
Sounds simple, however it is actually dependent on your approach to Forex trading - with the right mindset and getting the right education. The trader beats his or her self, rather than the market beating the trader in Forex trading. Learn the basic fundamentals, get a suitable system, become confident, get an edge and be disciplined. Do all of these to enjoy currency trading success.
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
Following are a few ways to lose money. You may wish to change your mind immediately if you are thinking of trying any of them. Do this to avoid losses and continue your Forex education!
1. Following a Forex Robot with Simulated Gains - You can apparently achieve success without any effort as promised by these. You are asked to accept their track records simulated going backwards. Your equity will get destroyed by trying them.
2. Day trading and Scalping - Due to the short term volatility, simply doesn't work. Like robots, even people selling these always have simulated track records.
Many more of these all fall into the category of trying to find someone else to give you success. This does not work in Forex markets.
Apart from needing a trading edge, you also have to understand ways and reasons of it leading you to success. Let's look at this in detail.
The combination of a simple robust helping you to understand and trade with discipline is what Forex trading is all about. Success comes from within.
You need to know what you are doing to trade with discipline. This translates into having confidence, which you definitely don't get from someone telling you what to do. You get confidence by your own knowledge and learning.
As you have to keep executing trading signals through losing periods, discipline is hard. This has to be continued till you hit a home run, even when the market is fooling you and taking your money. What separates out your Forex trading system from the 95% losers is your trading edge. You can ask what is your trading edge and how will it help you beat the majority? You don't have one if you don't know what it is.
Few succeed in simple looking Forex trading. These elements are present in the winners Forex trading strategy: Using simple robust Forex trading system - Having solid grounding in the basics of Forex trading - Knowing exactly why their system will lead them to success - Having confidence and discipline to stick with their plan - Knowing only they are responsible for their Forex trading success.
You have to stand alone, be confident of your actions and be disciplined to follow your plan in Forex trading
Sounds simple, however it is actually dependent on your approach to Forex trading - with the right mindset and getting the right education. The trader beats his or her self, rather than the market beating the trader in Forex trading. Learn the basic fundamentals, get a suitable system, become confident, get an edge and be disciplined. Do all of these to enjoy currency trading success.
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
