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How to Be A Profitable Trader

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For a great guide to earning from the forex market please visit http://tinyurl.com/77mc7hs

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How to Be A Profitable Trader

  1. 1. ==== ====Avi Frister Veteran Trader Reveals A Unique Strategy To Generate Great Income CHECK THISPLEASE :-)http://tinyurl.com/77mc7hs==== ====" Forex Trading is so hard. I seldom have a winning trade!"" Forex Trading is so easy. I just have another winning streak for the entire week!"Two Groups of Forex Traders - The Losers And The WinnersRead the two statements above again. These are two of the main statements I often hear fromfriends who are trading forex. Diametrically opposite, these two statements contrast greatlybetween themselves- one group of traders finding forex trading so very difficult for themselves,hardly able to get a winning trade. Traders from this group are fumbling at the ropes, trying tobecome profitable traders and to be able to bring home the roost. Traders of another group are thehappier ones. They are consistently profitable in their trades. They are the winners in the forexmarket.You look around- and you see others are doing so well in forex trading, and amassing personalwealth, even trading for a living- some of them making thousands of dollars each time they trade-and you think you should be one of them.Why 90% Of Forex Traders Are LosersSo why is it that 90% of the traders in forex not making consistent money? What is it that the other10% of the traders have that make them the superb winners?Currency trading was until recently the domain of the super rich and of the big time institutions.Unless you are well oiled, and have deep pockets or a huge sum of money as a capital support, itis not likely for you to even access currency trading.However, this changed with time, especially when forex mini accounts were created, leading to asurge in people wanting to trade in forex.This led to a problem...and the problem began to become bigger and bigger and exists till this day.Forex trading is just simply exploding, with over $2 trillion dollars worth of currencies transactedevery single day, with this accelerated growth bringing along problems.Many people are getting into forex trading without the proper training and proper education astraders. The easy accessibility of the internet made it worst. Many beginners merely scour theinternet based websites, picking up morsels of trading knowledge on forex here and there andstarted to trade. Not that self education is not enough, but the nature of forex trading is such that
  2. 2. those who are successful traders are simply not telling how they trade. Most successful tradersare traders, their time being occupied by their trading and research into trading setups and haveno time to promote their trading signals on the internet. To them, they are first and foremosttraders and not educators, and there is simply no reason to post their skills or give away theirsecrets of successful trading for free on the internet.The easy access of the internet has led to a proliferation of websites featuring some commontrading systems purportedly useful for forex trading. The popularity of forex trading has led to aviral duplication of these websites with almost similar content, until a big majority of forex traderswho gleaned their "education" and training from the internet to concentrate on such systems,without knowing exactly when they are suitable for use and when they should not be used at all.Among other factors, this is one of the main factors why a big majority of the self-taught forextraders are not making any money, or at best are inconsistent in their trading. Most of them arejust using the wrong tools or the wrong trading systems and have not gotten to master their tradesor themselves.Sun Tzu"s Art of War Provides The Solution To Your Trading BluesSun Tzus Art of War provides a key solution to successful battle, which can be extrapolated toforex trading.Sun Tzus Art of War called it: "Know Your Enemy"And your enemy in forex trading is merely the forex market itself and you- the person itself.To win in the forex market, you must know the forex market itself - in other words, you must get tounderstand the currency-pairs that you are trading on. Spend time to study their price movements.Know what trading patterns and setups occur time and again in those currency-pairs. Be familiarwith the risk-reward ratios of each specific trade pattern for those currency-pairs you are trading.Define and apply a specific trading strategy for those currency-pairs you trade. Know when toenter and exit the market and when to stay away. The best way to ensure you are doing itcorrectly is to get another experienced and successful trader to mentor or to show you the ropes.Budget to learn before you trade.As to the other part of the battle, you need to see the part of you, yourself who is the enemy. Forextrading involves decision making where your risk tolerance is put to the test, where emotions ofgreed and fear will play a daily tug of war within your heart. The solution to win this emotionalbattle is to trade with discipline. Adopting a winning strategy, a winning plan complete with riskmanagement and ensuring you do not deviate from that plan is a necessity for you to win. Again,have your mentor to show you and to fine tune that trading plan.You can join the 10% of forex traders who are consistent winners, and start to create a consistentincome trading from home, away from the rat race if you are prepared to learn.Need help to become a profitable trader?Stop becoming a losing trader. Discover how forex
  3. 3. trading can be your Cash Cow by tapping the experience of a professional trader and mentor."Click Here Now To Learn More In Part #2-Mini Forex Trading” [http://1forex-trading.blogspot.com] or visit http://forex-trading.cashflowpc.bizArticle Source:http://EzineArticles.com/?expert=Peter_Lim==== ====Avi Frister Veteran Trader Reveals A Unique Strategy To Generate Great Income CHECK THISPLEASE :-)http://tinyurl.com/77mc7hs==== ====

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