Currency Trading Is Easy To Learn But Most Fail Why

If you look at the adverts online there all about how easy it is to learn currency trading and it is - ANYONE can do it but paradoxically 95% of traders get wiped out so why is this and how can you avoid the errors of the majority?

Let's look at the reasons why most forex traders lose. The first reason is they believe forex myths and here are the main ones:

- You can predict forex prices

- You can follow a forex robot with a simulated track record and make money

- You trade news stories

- You can day trade or scalp the market for regular profits

- You take expert advice

- You believe the markets move to a scientific theory

Believe any of the above and you will kiss goodbye to your equity.

Now let's assume you don't believe any of the above, you're sensible, level headed and want to win now, you still have one major obstacle to hurdle:

Applying your forex trading strategy with discipline.

Discipline is really what sets apart the winners from the losers.

Its talked about a lot - but most traders don't realize how hard it is ( until they do it ), to keep executing your trading signals when your losing and the market makes you look a fool - its hard, very hard.

Most traders lack the discipline to keep their losses small - but have even more problems accepting big gains. Again, this may sound like a paradox - as we all want big gains.

So why can't we accept them?

Let's look at an example:

A trader gets a profit and is pleased and the bigger it becomes the more he wants to take it "before it gets away" what happens open equity eats into his open profit and it becomes too much, he moves the stop up to close and gets taken out the market by random volatility.

What happens next?

The position goes back the way he though piling up huge profits and the trader's not in, because he didn't have the discipline or courage, to hold the position and accept short term losses to get the bigger prize.

Look at a forex chart and you will see forex trends last for weeks, months or years and many can make you tens of thousands of dollars for you on a small deposit - but you must have the discipline to lock into them and hold them - its hard - but it can be done.

You need a robust simple forex trading system you have confidence in which you have the courage to apply with discipline.

If you want to make forex profits you can and a lot of them and its achievable - but don't be deceived, it's not easy and you wouldn't expect it to be with the rewards on offer.

This article has given you a brief insight in what the majority 95% do wrong and what you can do right to enter the elite 5% who pile up the big forex profits year in year out - Want to joint them? Well if you do, we hope this article has helped put you on the road to currency trading success.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf's, with 50 of pages of essential info and more on Bigger Forex Profits visit our website at: http://www.learncurrencytradingonline.com.

Article Source: http://EzineArticles.com/?expert=Kelly_Price

Forex Currency Trading System - Your Own Personal ATM

There is a lot of talk these days about the exploding forex currency trading market. It has become a major area for more and more people to invest in and reap the maximum benefits financially. There are tons of people everyday who take up forex trading as their number 1 money making hobby. There are literally fortunes being made while you read this article.

The basic concept of forex trading is that you are trading the currency of one nation against the currency of another nation. There is a lot of money to made in this because the exchange rates are ever-changing. They fluctuate at all hours of the day and that is what allows people to be able to trade them just like you would the stock exchange.

If you to get involved in forex trading there are several aspects of it that you need to learn. Currency trading systems, forex trading strategies, forex trading signals and the forex alerts are some of the major factors that are causing the market to gain a considerable profit through trading volumes.

Forex is by far the largest exchange of foreign currency out there today. It is considered the most frequently rising transnational markets in existence today. The Internet has opened the possibility for everyone from all across the globe to take part in the forex market.

There are several strategies that you need to be aware of to start trading in the foreign exchange market.

1. There are foreign exchange rules and regulations that everyone needs to be aware of.

2. It is also vitally important that as a trader you adopt a reliable and effective forex trading strategies. If you enter the market and just try to follow you instincts you will end up wondering what happened to your money.

If you keep these two principles in mind when you try your hand at the forex market you should be able to make a tidy profit. The good news is that there are professionals that do this for a living that already have strategies in place for you to take advantage of.

How would you like to start trading in the forex market and do it profitably at the same time?

If you want to discover how to make massive profits from the forex market...

http://www.squidoo.com/bestforexsoftwaretrading

Article Source: http://EzineArticles.com/?expert=Jake_Adams

Venture Into Currency Trading Through Forex

Maybe you have heard from other businessmen that investing is the latest trend in the market. This is true however you should make sure of what you are doing before you invest on something. There are various things which you can put your investment on. There are some individuals who invest on small businesses like an arts and crafts store. On the other hand, there are some people who place their money on huge businesses like real estate. When you want to invest on something, make sure that you will be able to earn from it. This way, all the money that you have put in will not go to waste. One of the most common venues where people put their capital investment into is stock market.

If you are still deciding where to invest your money, you can try forex currency trading. This market is easy to understand, as long as you are equipped with the proper set of tools and knowledge. When you venture into this, you will be selling and buying currencies from different countries. Among the currencies that you can invest on is the Euro. If the value of this specific currency rises, you will be able to earn a profit. When this goes the other way around, you will lose some of your earnings. But if you know how to handle your business well and you have backup plans, you will not lose so much cash.

But before you get into forex currency trading, you might want to look into current forex news and headlines. This way, you will know which currency is always inflating against the dollar. It is hard to find a certain site which provides this kind of information, since there are a lot of them over the web. The best thing for you to do is visit forexlisting.com. This is an online site which offers links to hundreds other sites that concentrate on forex information and details. Through the forex directory of the site, you will know which provider can serve you with the most useful information on forex trading.

If you want to determine the current trends in the market and how these trends are changing, you can check out sites which offer currency charts. There are some websites which provide free charts, while there are some which asks for fees. You will find a comprehensive list of companies that offer currency charts when you use the directory of forex Listing. You can also find links to currency calculators or currency conversions. There are even currency historical graph and data. You will be able to understand the forex market more when you read analysis forecasts. The directory of forex Listing has links to websites that offer this information.

Forexlisting.com can provide you with a comprehensive forex directory. Through this directory, you will be able to search for a site from where you can get information or help regarding currency trading. Take advantage of this in order for you to guarantee the success of your investment.

Through the forex directory of the site, you will know which provider can serve you with the most useful information on Forex trading

Article Source: http://EzineArticles.com/?expert=Mike_Sauer

6 Common Novice Mistakes That See Traders Lose

Currency trading education is all about getting the right information but most traders believe myths or base their trading strategies on logic which is not correct and lose. Here we look at some common mistakes, you must avoid to enjoy currency trading success...

One of more of these mistakes are made by the majority of novice traders so lets take a look at them, there in no particular order of importance to avoid - there all important!

1. Forex Robots and Expert Advisors make Money

You have seen them advertised, promising to double your money each month with no effort and all you do is pay a hundred dollars or so for an income for life.

They don't work and if you use one these systems you will lose very quickly. If making money was as easy as the robot vendors claim, no one would work and everyone would trade for a living.

2. Day trading and scalping Work

All short term volatility is random and there is no way you can get the odds on your side and win because of this. Trading short term moves is a loser's game - it looks low risk but you are guaranteed to be wiped out.

3. Markets can be Predicted

Prediction is hoping or guessing and you won't get far doing that in any venture in life and that includes Forex. The far out investment crowd love the theories of Elliot and Fibonacci which claim they can predict the future - but if they can do this, why do they ever get a trade wrong? Never predict, trade the reality of price change and you will have the odds on your side.

4. You can Trade breaking News Stories

News is discounted by the market instantly.

The news itself is not important it's the investor's view of the news which is and everyone may see the same facts but they all draw different conclusions from them. Markets always fall when the market is most bullish and rally when it's most bearish so never trade news stories.

5. Working Hard or Being Clever Guarantees Success

Forex trading suits a simple approach as it's an odds based market. Over complicate your trading and your Forex trading strategy will have to many elements to break. Don't work hard, work smart - effort may make you more money in a normal job but not in Forex.

6. Leverage is the Key to Big Gains

Yes it is but more novice traders wipe themselves out due to over leverage than any other reason. You can get 200:1 leverage with any broker now but novices should start with NO leverage at all, until they are comfortable with there trading and use no more than 10:1 after that.

Work Smart and Win

The above are all common and avoidable mistakes, so if you want to enjoy currency trading success, avoid them and get a good solid currency trading education which is based on sound logic and avoids the myths of Forex.

NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf's, with 50 of pages of essential info on Successful Forex Trading Strategies visit our website at: http://www.learncurrencytradingonline.com

Article Source: http://EzineArticles.com/?expert=Kelly_Price

Reasons Why Currency Trading is So Popular

If you have heard about forex trading and have been interested to learn more about why it is so popular, you will want to read this article. We will explain the key advantages of trading forex, including the fact that it offers high liquidity trading opportunities 24 hours a day where you can profit if the market is rising or falling, where trades are commission free and streaming prices, news and charts are also provided free. After you read this article, you will understand five reasons why forex trading is popular.

First we need to explain just what forex trading involves. Forex is short for foreign exchange. It is also known as FX. It means exchanging one currency for another. Buying one currency and selling the other at the same time. Why would we want to do this and how can we profit? By buying one currency and selling another, we will profit by movements in the value of the currencies. For example, we may buy Euro EUR and at the same time sell American Dollars USD. In March 2009, if we buy 10,000 Euros, it will cost around $13,500 dollars, as 1 Euro is worth $1.35 USD. If the Euro strengthens so that 1 Euro is worth $1.40 USD then if we sell our 10,000 then we will receive $14,000 and make a profit of $500.

So now that we understand the basic idea of forex trading, we can now explain some of the reasons why so many people trade currencies. The first reason is that the market is open 24 hours a day. This means that you can trade when you have the time, after work for example. If you trade stocks, you face the problem that the market is open when you are at work and you are not able to monitor the market. The forex market opens in the Asian region on Sunday evening and trades 24 hours a day until it closes on Friday afternoon New York time when the last trades are completed for the week.

The second reason that will explain why the forex market is so popular is that it is free to trade. There are no commissions. Brokers make money by charging a spread, but not a commissions. A spread is the difference between the buying and selling price. For example, a broker may offer you to buy Euro for USD 1.35, but if you then want to sell the Euro you will receive USD 1.33. This difference is called the spread.

Another important reason why people are attracted to trading forex is that brokers offer prices, news and charts for free. To trade, you will need real time prices and a charting package will help to understand the prices in a graphical format. Brokers will offer a free charting package that includes the latest prices, charts and often news.

Currency trading has high liquidity. This means that there is a ready market if you wish to buy or sell. If you want to buy a currency there needs to be a seller that is willing to sell. If you wish to sell your currency position, you need a buyer. The market is large enough that there will always be a buyer or seller for any currency.

The last reason why forex trading is popular is that you can profit from rising or falling prices. Currencies can rise or fall in value. In Forex trading, you are able to buy or sell currency depending on your expectation. So now we have explained five advantages of trading forex. It is an opportunity to trade when it is convenient for you, with free pricing information, charting packages and news, with no commission costs, you can profit no matter which way a currency is moving and you will always be able to find a buyer or seller.

But that's not all you need to know

If you visit http://www.abc-of-forex.com you will find forex trading explained, and the BEST way to get started or improve your trading today.

Article Source: http://EzineArticles.com/?expert=Mark_Green