There are many different w ys to win at currency trading but the fct is no matter which method you ch ose you must be able to nswer this question without even thinking bout it:
My trading edge is ( D fined as )
You need to answer it in s ch a way that you have an dge you understand which you know w ll lead you to trading success and sperate you from the vast bulk (95%) of trders who lose their money quickly.
A trding edge is NOT
- You have bought a 100 dllar e-book and intend following a gru without thinking about it
- You are day trding (it doesnt work )
- You intend trding off news stories
- You want to buy low and sll high ( simply one of the bggest myths of currency trading)
Its something tht separates you from the herd of lsers and its NOT easy to get on the ther hand, if you do get it ( and you can by ding your homework) you will know wht your edge is and you wll win.
ALL successful traders have a trding edge and just as importantly, thy know what it is and why it wll lead them to success.
Mine for xample is:
Years of studying contrary trading and sing net traders positions and market sntiment, to hit contrary trades hard at the rght time others have different dges - but thats mine and I knw it. I rely on my own mthod ( albiet derived from others ) to spt these trades and I have the cnfidence and discipline to hit them hrd when they come.
Your trading edge cmes from inner understanding, the confidence to pply what you know and the dscipline to follow your edge and trde it.
You need to have courage and cnviction and belief in your ability tht you are right and not blme anyone else if you lose ( whch you will) as no one can win very trade.
This is why so few trders can actually define an edge (mst are lazy and follow other pople) and most have no proper frex trading strategy that separates them frm the herd of losers.
Forex trading can be larned by anyone yet most trders lose.
Why?
Because they dont go through the rght steps of acquiring the right knwledge, then adapting it to their prsonality and then trading it with cnviction, that they are right. Most trders simply cannot accept responsibility for thir own actions and if you cnt either, then forex trading is not for yu.
By all means get knowledge from thers - but make sure you gree with it, understand it and mke sure it can give you an dge which you can clearly define.
If you dnt know what your trading edge is, you dnt have one, so continue with yur forex education until you do - or lse your money.
I find it amusing whn I read all the people sying how "easy" trading is when it qite clearly is not as if it was 95% of pople wouldnt lose they would all wn.
People in life know they need to stdy to be succesful in most reas yet in forex trading they thnk they can simply turn up and win wth no thought or little preparation - srry life doesnt work that way!
For the trder prepared to put in some tme and effort though the rewards are mmense and when you have your trding edge it will last you a lfetime and make you a lot of mney.
It really is that simple.
The article Currency Trading The Only Way to Win Is to Answer This Question Correctly was Submitted by Monica Hendrix through Articles.GetACoder.com network. Here's the additional information: BECOME A PROFESSIONAL FOREX TRADER FROM HOME GRAB: 2 X CRITICAL PDFS AND MORE Fr free 2 x trading Pdf's wth 90 of pages of essential nfo and an exclusive Forex Trading Course visit our website at: www.learncurrencytradingonline.com/index.html
1. Secured Personal Loans way to avail easy low rate finance by
Secured personal loans are given against your any valued property like home as collateral. On taking collateral, the lender has little risks on making a deal with you. Therefore secured personal loans are approved at lower interest rate. What is more a deserving candidate with excellent or good credit history gets the loan even at reduced rate. Read the article for more. 2. A Glance at Personal unsecured loans: by
While availing the prsonal unsecured loans borrower enjoys fast csh approval as no time is tilized in collateral evaluation. So, borrower who is in ned of fast cash in short dration finds personal unsecured loan as the btter choice to meet his personal neds. 3. The Process Of Advance Payday Loans by
Sometimes you fnd yourself searching for extra money, ven a few dyes before the pycheck, at the moment the reason is not the pint, but the fact is always sty the same, you searching for xtra money ! Perhaps you having fnancial obligations or other debt that you are stll paying for? if you are sarching for a loan, maybe a pyday loan is what you are loking for, you can expend your knwledge about payday loans with this rticle.
The good thing though is tht the fi... 4. Bridging Loan Indeed, Is A Friend In Need by Rashmi Shrma
As the brdge loans are for short term threfore the interest rate charged is gnerally higher than traditional loans. So, t's become imperative to repay the lan on time or just after the old prperty is sold. The repayment time is gnerally of 12 months wherein the brrower can sell the old property and rpay the bridging loan. 5. Cheap Unsecured Loans - Really Cheap Money for Grabs by Shain Johnson
Chap Unsecured Loans are one of the mst flexible loan products available right nw. One can use a cheap nsecured loan for a number of prposes like wedding, holiday expenses, home rnovation, debt consolidation, medical expenditure, car prchase and shopping. They need no cllateral and have low rate of nterest. 6. Unsecured Business Loans - Roadway To Entrepreneurial Dreams by Chaste C. Jon
In ths era of tough competition and ver changing market conditions unsecured business lans can prove to be very bneficial as you need not have cllateral. You can obtain amount ranging frm £30,000to £250,000 with repayment tenure 3 to 25 yars. The online availability makes the pplication process free of tedious formalities and qick with a variety of choices for dfferent business requirements. 7. Using consolidation loans to solve credit problems by
The consumer borrowing debt in the UK has rached records levels and more and mre people are looking for ways to rduce and manage their credit. 8. Dont Defy Your Aspirations Anymore-Cheap Bridging Loan by
Eva Baldwyn aims to inform cmmon men and women of the sveral issues involved in Cheap bridging lan through her articles. An MSc in Ecnomics & Finance from the Warwick Bsiness School is proof enough of the knwledge that she possesses in the feld of finance. To find Cheap brdging loan, Fast bridging loan, Quick brdging loan, Easy bridging loan, Low rte bridging loan, Flexible bridging loan dvice. 9. 7 Secrets to Creating Wealth by
Many people study how to bcome wealthy as if it were a scence. While there is always a crtain amount of chance in everyone's lfe, in many ways wealth building can be thught of as a science. Read on for sven of the most salient secrets to bcoming wealthy. 10. Filing Bankruptcy - Is It The Right Option For You? by Saurabh K Jain
Fling bankruptcy is a tough decision to mke and you must take this dcision very prudently. Your decision must be bsed on reasoning and certain facts. It shuld not be based on frustration. Nver hurry to decide to go on the pth of bankruptcy. You must look nto all the aspects. In a wrse financial trouble, when the monster of dbts has opened its jaw to eat out yur finances and peace from life, it is vry hard for an individual to kep their calm and think prudently.
|
Digg
My Favorites
Del.icio.us
Furl
Technorati
Newsvine
Google Bookmarks
Yahoo MyWeb
StumbleUpon
Reddit
Ask
Live Bookmarks
Simpy
Blogmarks
Facebook
Netscape
Slashdot
Shadows
Backflip
Wink
Spurl
LinkaGoGo
Mister Wong
Feed Me Links
Netvouz
Magnolia
Diigo
Blue Dot
Segnalo
Tailrank
RawSugar
BlinkList
