Most of the people that get involved in the forex market
lose money, 95% of them. But there are some others that
have been able to profit in a consistent way. I know
successful traders have no special talents or skills; anyone
can learn how to trade.
Many system sellers want you to think trading is
complicated; their job depends on that. They say: "if
trading is so easy why isn't everybody making millions?"
And I agree with them trading is not easy; but it is simple.
Just like saving money on a piggy bank it's not easy, but
the concept behind it is very simple. Here are some basic
ideas I want you to consider.
Not even the best traders of history have been able to win
on every single trade. If you try to profit all the time you
are going to lose. Learn to love your losses or, at least,
accept that they are part of the deal. You should expect
the occasional drawdown on you account from time to
time. As long as your losses are under control, and your
system has positive expectancy (makes more money than
it losses) you'll be fine.
To be a successful trader you need to find a good system.
Having the right information is very important, Your
decisions are only as good as the information on which
they are based. Look for a system that operates in a
mechanical way that has positive expectancy, and leaves
nothing to interpretation.
One of the main advantages of currency trading is the
minimal capital needed to open and fund your account.
But you must be aware that having enough money to
survive your losing periods is vital. Your bets should
always have a safe size. If your trading capital is limited
open a mini or a micro account. Every trade you make
should be based on sound money management principles.
To be a profitable trader is simple, as long as you are
disciplined. You should follow your rules with consistency;
never deviate. Don't let your emotions cloud your
judgment. I know it's hard but the rewards are enormous.
I know trading the forex market can be a rewarding
occupation. You could use, the forex market, to
complement your salary or as your main source of income.
Start-up costs are very low, the schedules are very flexible,
the potential profits are very eye-catching. I hope this was
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