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Is forex trading profitable?

October 17, 2011

The simple answer for this question is “yes” but you have to work hard and get a good experience of at least 6 months is essential to become profitable and that is guaranteed. Really the behavior of forex market is very hard to predict and very risky. Also forex can make you a millionaire or a beggar in a few minutes. So it is not that easy to be successful in forex trading. Only 5% of traders are successful and the majority is losers. We must try hard to enter to that 5%.  In forex trading someone is winning means someone is loosing in somewhere in the world. The banks and big investors are the big players in this game and we should try to do what they do and should not do against them as we are ants if they are big elephants. Following things are the most important rules in forex as I have seen and If you are a beginner, you should always remember these things.

Knowing that you cant always win

I have seen in lot of websites that traders providing their trading performance sheets without any loosing trades. Probably they are fake and anyone cant trade for a long time without loosing even a single trade except central banks. Very experienced professional traders also sometimes loose two, three trades in a row. So you must understand that loosing is a part of this game and only thing that we can do is reducing the number of loosing trades and also the amount of loosing.

2  Strong determination to be successful

Determination is very important not only in forex but also in any kind of work we do. At the loosing time you might end up with loosing all the positions you had at that time in different pairs. This is normal because there are correlations among most of the pairs. So after a series of loosing trades it is very hard to make our mind and for many beginners it is the end of their forex trading. If you are like that, don’t try to trade in forex anymore because you have to understand that this is the nature of forex and also you have to learn a lot of things from loosing trades. Biggest looser become the biggest winner. If you want to be a successful trader, reading books, articles, being alert for news and global economy is very important. Nothing can be achieved if you don’t spend some amount of time to learn that.

3  Trading descipline

This plays a major role in forex trading. After a loosing trade, lot of beginners try to recover it as soon as possible. This is the worst case and when you enter to trades at that  time probably you cant recover and you loose further more. So controlling our emotions is very important specially after loosing trades. Also trading very big lot sizes to become rich quickly is seen often among beginners. This is greed and should try to avoid as much as you can. Always don’t risk more than 5% of your trading capital and for beginners it is very safe to trade minimum lot size until a good experience is gained.

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6 Comments
  1. You could certainly see your skills in the work you write. The world hopes for more passionate writers like you who are not afraid to say how they believe. All the time follow your heart.

  2. Awesome blog, it’s just like a game for me! It’s so infomative and usefull, thanks a lot! If you post more of this great stuff, I’ll visit your blog again!

  3. Your house is valueble for me. Thanks!?

  4. Really Appreciate this blog post, how can I make is so that I receive an update sent in an email whenever you make a new post?

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