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Saturday, 14 March 2009 |
By Ben Needles
 Growing up you heard the saying, Anything worth doing is worth doing well. When it comes to day trading Forex currency, this is even more true.
With day trading Forex currency, being simply a trader wont do. Being a trader is something anyone with a bit of money can do. All you need to do is open an account, deposit some money, then begin placing trades. Instantly youre now a trader.
The average trader loses money or makes very little for the time invested is the problem. The 90-95% failure rate in trading is no joke and these people are failing and losing their money. The average traders certainly arent making the six-figure income that will allow them to realize their dreams.
When you got into day trading Forex currency, you were not looking to strain your relationships, lose money, add stress to your life or grow grey hair. Most likely you were intending for something quite different. Enjoying a respectable income stream, building a nice nest egg and having control of your time are probably more like it.
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Last Updated ( Saturday, 14 March 2009 )
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Friday, 13 March 2009 |
By Roberto Garabell
 Many new currency traders think that successful traders have successfultransactions all the time. Most successful traders, in fact, trade with success rates about fifty percent and seventy five percent. Because of this it also means that they also fail fifty to twenty five pecent of the time.
If you add up all the losses made by a successful trader (in dollar terms) the losses are often much larger than the gains or losses made by an unsuccessful trader. Therefore good Forex traders are not only the biggest winners but also the biggest losers (in dollar terms). Trading activity is sometimes much more important to trying to get a hundred percent record all the time.
Good traders have accepted the fact that losing is part of Forex trading. They therefore process and accept loses in a very positive way. They are not distracted by failures or become emotionally upset. To get most value from their losses they view them as learning experiences They also know that a trader's success rate is only one of the components to a financially rewarding |
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Last Updated ( Friday, 13 March 2009 )
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