It`s amazing to hear all over the place the tremendous opportunities presented by forex trading and the financial leverage it has provided to people the world over.
As wide as this market is, it can be said that it could as well consume a considerable amount of losses just as it could give to wise traders an enormous amount of profit.
Trading forex could turnout to be sad and bitter most especiallly when the folk involved isnt well prepared.
Forex trading like everyother business has its tricks which sincerely is neglected by a larger percentage of new traders and some old traders. It is good to make it clear here that recording heavy and unbearable losses in forex is controllable.
Now thhat you ve chosen to trade forex, you should have reached a resolution to breakaway from the chains of lack and the apron string of poverty which to a large extent has ravaged the entire earth.
You are sincerely welcome to the global market where we all could fish and fish succesfully without hurting one another.
With a daily traded volume of about $2.3trillion dollars echanging hands, you need to ask your self what portion of this global cake will always become yours at the end of the day.
This is where you start the trading from. Not when you click the mouse to place the first trade.
Many people want a larger percentage of this share which ofcourse isnt a crime, but this exactly is where the first sin is committed.
GREED is the number-one sin of forex.
Before you place the first order you ve got to come to a conclusion on what you want to make at the end of the day which on the other way round wont be injurious to your capital.
Greed in forex is a normal thing. The better you work on it the best you get from the market.
While it has sent so many people out of the market, many people are on the other side smilling to the bank.
Until you realise that forex is a trading and not a scam or a get-rich-now-now business you will play into the waiting hands of forex traps_Losses.
Just before your first trade, you need to breakdown your expected monthly or weekly profit into a daily achievable target. Aspriring to hit at a thousand dollar profit isnt bad, but how you get it without wounds ( i mean losses), is what matters. If your target is to make a thousand dollar profit at the end of the month, you should be wise to know that what you need to target weekly should be $250.
Achievable isnt it !
Yes it is, but there is a better way to even get at it without knowing.
$250 dollars weekly means you can streamline your target daily to $50.
So easy isnt it?
Yes.
Success in forex could be as easy as this. This profit management/money management idea (as simple as it appears) seems to be the major thorn-in-the-flesh of many old and new forex traders.
The fact that greed is major factor in forex trading calls for discipline on the part of traders. If greed has eaten deep into the hearts of traders, discipline shoud be a respite.
Without discipline in forex you will never land on the board of success.
Forex market is so unique that it reveals the person of a trader. Everybody trading forex could be described by simply weighing their money management apetite against their risk-apetite.
All of what is discussed aboved plays a wonderful role in preparing you for the market. It is advisable to get yourself fortified with all the necessary information needed to make headway in forex.
70% of successful forex traders today had their hands burnt losing at one point or the other but getting the hard blows from forex isnt a good experience. So a prospect coming into this business should be prepared.
So what preparation do you need?..................we will get you posted.
As wide as this market is, it can be said that it could as well consume a considerable amount of losses just as it could give to wise traders an enormous amount of profit.
Trading forex could turnout to be sad and bitter most especiallly when the folk involved isnt well prepared.
Forex trading like everyother business has its tricks which sincerely is neglected by a larger percentage of new traders and some old traders. It is good to make it clear here that recording heavy and unbearable losses in forex is controllable.
Now thhat you ve chosen to trade forex, you should have reached a resolution to breakaway from the chains of lack and the apron string of poverty which to a large extent has ravaged the entire earth.
You are sincerely welcome to the global market where we all could fish and fish succesfully without hurting one another.
With a daily traded volume of about $2.3trillion dollars echanging hands, you need to ask your self what portion of this global cake will always become yours at the end of the day.
This is where you start the trading from. Not when you click the mouse to place the first trade.
Many people want a larger percentage of this share which ofcourse isnt a crime, but this exactly is where the first sin is committed.
GREED is the number-one sin of forex.
Before you place the first order you ve got to come to a conclusion on what you want to make at the end of the day which on the other way round wont be injurious to your capital.
Greed in forex is a normal thing. The better you work on it the best you get from the market.
While it has sent so many people out of the market, many people are on the other side smilling to the bank.
Until you realise that forex is a trading and not a scam or a get-rich-now-now business you will play into the waiting hands of forex traps_Losses.
Just before your first trade, you need to breakdown your expected monthly or weekly profit into a daily achievable target. Aspriring to hit at a thousand dollar profit isnt bad, but how you get it without wounds ( i mean losses), is what matters. If your target is to make a thousand dollar profit at the end of the month, you should be wise to know that what you need to target weekly should be $250.
Achievable isnt it !
Yes it is, but there is a better way to even get at it without knowing.
$250 dollars weekly means you can streamline your target daily to $50.
So easy isnt it?
Yes.
Success in forex could be as easy as this. This profit management/money management idea (as simple as it appears) seems to be the major thorn-in-the-flesh of many old and new forex traders.
The fact that greed is major factor in forex trading calls for discipline on the part of traders. If greed has eaten deep into the hearts of traders, discipline shoud be a respite.
Without discipline in forex you will never land on the board of success.
Forex market is so unique that it reveals the person of a trader. Everybody trading forex could be described by simply weighing their money management apetite against their risk-apetite.
All of what is discussed aboved plays a wonderful role in preparing you for the market. It is advisable to get yourself fortified with all the necessary information needed to make headway in forex.
70% of successful forex traders today had their hands burnt losing at one point or the other but getting the hard blows from forex isnt a good experience. So a prospect coming into this business should be prepared.
So what preparation do you need?..................we will get you posted.
