The word “forex” comes from Foreign Exchange, and is often ab¬breviated to FX. Trading the forex market involves the buying and selling of currencies. In simpler terms, it’s the exchange of one currency for another at an agreed upon rate.
All the currency of the world is involved in the forex market. It may be confusing to choos... Read more
|
|||||||||||
As a trader, you understand that a good trading strategy is one of the single most important factors when it comes to your trading.
With a proven, reliable strategy, you'll have a map for your trading future and a guideline for your success. You'll have a plan. Believe me, most traders out there just open a trading account and start trading, without a clue as to what they’re getting themselves into. Only a few of them have a trading strategy, and because of that, many of them fail. In fact, the vast majority of them fail. According to a report from the North American Securities Administrators Association (NASAA): “Only 11.5% [of traders] might profitably trade [the markets]. At least 70% of traders lose money in the markets…70% of pub¬lic traders will not only lose, but will almost certainly lose everything they invest.” At least 70% will lose everything they invest. And only 11.5% of traders will actually succeed. That’s just slightly over 1 in 10. Not great odds. However, if you have a trading strategy mapped out, then that small step has dramatically increased your chances of belonging to the 11.5% of successful traders out there who are actually making money. But here's the thing about trading strategies: they're a dime a dozen. These days, you can find hundreds of books with different trading strate¬gies, along with countless websites that offer trading strategies for free. In addition, you’ll find “the trading strategy of the month” every couple of weeks in nearly every trading industry magazine out there. So, if there are so many trading strategies available, why do only 11.5% of traders make money? The problem is that strategies do NOT make a good trader. There’s more to trading that just having a strategy. Only time, knowledge, ex¬perience, and guidance can make you the trader you want to be. Being a successful trader is just as much about your mindset as it is about your strategies. That’s why it’s very important to solidify your trading education, along with your goals and guidelines. If you have the guidelines hammered out, you will be on the right road to getting the discipline you need, and a sound trading mindset will quickly follow.
Day trading can be simple, but don’t make the mistake of think¬ing that it’s easy.
There are many websites and late-night infomercials that try to tell you differently. They make you think that you just have to read a few pag... Day trading can be risky, but, with the right education and approach to the markets, it can also be your ticket to true wealth. And when I say wealth, I am not just talking about having a lot of money. “Wealth” to me means havin... Let’s keep it simple: money is made if you buy when the market is going up and sell when the market is going down. That’s why technical ana¬lysts hold to the motto "The trend is your friend.”
Support and resistance levels are... Let’s keep it simple: money is made if you buy when the market is going up and sell when the market is going down. That’s why technical ana¬lysts hold to the motto "The trend is your friend.”
The price chart of a security may... Having a trading plan is like having a solid blueprint to build your home, or having a map when traveling to a new location. Even a professional trader won’t survive in the markets without a good trading plan.
And once you’ve... Everyone that has intentions of starting a business or branching out an existing business into new fields will realize how difficult that is nowadays. The competition is fierce, well organized and with the development of the int...
|
|
