OUTLINE OF CURRENCY TRADING EDUCATION: THINGS YOU SHOULD KNOW ABOUT FOREX TRADING

Forex brokers agree that 90% of traders end up losing money, 5% of traders end up at break even and only 5% of them achieve consistent profitable results. With these statistics shown, I don’t consider trading to be an easy task. But, is it harder to master any other endeavor? I don’t think so, consider musicians, writers, or even other businesses, the success rates are about the same, there are a whole bunch of them who never got to the top. Now that we know it is not easy to achieve consistent profitable results, a must question would be, Why is it that some traders succeed while others fail to trade successfully in the currency market?

There is no hard answer to this question, or a recipe to follow to achieve consistent profitable results. What we do know is that traders that reach the top think different. That’s right, they don’t follow the crowd, they are an independent part of the crowd. A few things that separate the top traders from the rest are:

Education: They are very well educated in the matter; they have chosen to learn every single and important aspect of trading. The best traders know that every trade is a learning experience. They approach the Forex market with humility, otherwise the market will prove them wrong.

Currency trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success. Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.

Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.

Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual tradehas two probable outcomes, not just the winning side. These are, among others, the most important factors that influence the success rate of Forex traders.

We know now that it is not easy to make money trading the Forex market, but it is possible. We also discussed the most important factors that influence the rate of success of Forex traders. But, how much time does it take to have consistent profitable results?

It is different from trader to trader. For some, it could take a life time, and still don’t get the desired results, for some others, a few years are enough to get consistent profitable results. The answer to this question may vary, but what I want to make clear here is that trading successfully is a process, it’s not something you can do in a short period of time.

Trading successfully is no easy task; it is a process and could take years to achieve the desired results. There are a few things though every trader should take in consideration that could accelerate the process: having a trading system, using money management, education, being aware of psychological issues, discipline to follow your trading system and your trading plan, and others.

Forex Day Trading Signal

Traders and investors see the daytrading as a new speculation or diversifying opportunity.

In the past, the tools for day trading were available only to professionals. Matching a method of trading with your personality is the only way you will ever feel comfortable in the markets.

There is no fool-proof daytrading system. Accessibility to the data is a unique and important tool in your trading arsenal.

In contrast with other financial markets where you require the full deposit of the amount traded, in the Forex market you require only a margin deposit.

Your best chance to make money trading is by following the path of the best traders.

Day traders will holdi a stock until it goes up to about five or six cents and then start selling. Before you can put even stellar day-trading ideas to work, you must have a way to get price data to you and your order to the floor.

Some of the more commonly day-traded financial instruments are stocks, stock options, currencies, and a host of futures contracts such as equity index futures, interest-rate futures, and commodity futures.

Keep in mind, that it takes approximately $100,000 to day trade successfully and see profits. Daytrading can be fun, but also stressful.

Day traders depend heavily on borrowing money or buying stocks on margin. Day trading is a location-independent activity. People who operate in the day trade markets are known as day traders.

Day trading strategies demand using the leverage of borrowed money to make profits.

Traders and investors see the daytrading as a new speculation or diversifying opportunity. In the past, the tools for day trading were available only to professionals. Matching a method of trading with your personality is the only way you will ever feel comfortable in the markets.
There is no fool-proof daytrading system. Accessibility to the data is a unique and important tool in your trading arsenal. In contrast with other financial markets where you require the full deposit of the amount traded, in the Forex market you require only a margin deposit.
Your best chance to make money trading is by following the path of the best traders. Day traders will holdi a stock until it goes up to about five or six cents and then start selling. Before you can put even stellar day-trading ideas to work, you must have a way to get price data to you and your order to the floor.
Some of the more commonly day-traded financial instruments are stocks, stock options, currencies, and a host of futures contracts such as equity index futures, interest-rate futures, and commodity futures. Keep in mind, that it takes approximately $100,000 to day trade successfully and see profits. Daytrading can be fun, but also stressful.
Day traders depend heavily on borrowing money or buying stocks on margin. Day trading is a location-independent activity. People who operate in the day trade markets are known as day traders. Day trading strategies demand using the leverage of borrowed money to make profits.