Tuesday, June 2, 2009

Currency Trading For Beginners - Most Novices Make This Mistake!

If you make the mistake enclosed you will lose at Forex trading and here is the mistake that causes the demise of more new accounts than any other. If there is one lesson for currency trading for beginners that you need learn.

Most traders believe that currency trading is easy and they think they can follow a guru, expert advisor or forex robot with a back tested system and enjoy currency trading success and of course, they lose their money. If you could win by buying $100 buck robot the amount of traders who lose wouldn't be so high.

Understand This!

Forex Trading is NOT easy. That's why 95% of traders fail to make money and get wiped out. That's a huge percentage of losers however:

The Good News However is

If you understand that big gains don't come without effort, you are prepared to get the right forex education and the right mindset the gains can be life changing - but you need to make an effort and get the knowledge you need, to give you confidence to trade with discipline.

Why You can Succeed

You wouldn't expect Forex trading to be easy with the huge rewards on offer - but you can succeed as forex trading as it's a learned skill. You don't need to have a college education and you don't need to work hard - you need to work smart, get the right Forex education and you can win. Anyone can learn currency trading in a few weeks and make money in 30 minutes a day. The effort you make will be well rewarded just simply understand the following combination for currency trading success:

Knowledge + Discipline to Execute the Knowledge is the Key to Success

Knowledge by itself is not enough to make money.

Having a logical robust forex trading system, needs to combined with the discipline to execute it.

You need to have the confidence to keep putting in your trading signals and ride out losing periods where the market is hurting your ego and giving you losses and your emotions are trying to tell you to veer of course.

Losing periods are part of trading ( don't believe anyone who tells you otherwise) and they can last for weeks and you must say on course until you hit a home run.

If you don't execute your signals though these losing periods with discipline, you have no system!

Success Comes From Within

Success comes from within. Someone can give you the knowledge and education and even though it may be sound education, it's your discipline and mindset which will turn it into profits. In forex trading many traders get the wrong education and lose and many others simply cannot trade with discipline and lose. In conclusion the trader doesn't get beaten by the market he gets beaten by himself.

Understand this and You can be a Winner at Forex

Understand Forex trading is not easy and success comes from within and the pillars of knowledge, confidence and discipline and you are on the road to a great second or even life changing income.

No other investment offers you such great profits in terms of effort to profits, it's not easy of course - but understand the above and you can win and your efforts will be well rewarded.

By: kelly price

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