How To Be Successful In Forex

[ForexRouteOne]

Hello,

My first thread on this forum and I thought I'd talk about starting out in Forex. I remember when I first started out. It's very exciting and there are many ways of making extra income with Forex trading. My only problem when I started out was the amount of sales clutter on the net. There are too many people out there, trying to part newbies with their hard earned cash, in exchange for a Forex bot, or magic formula system. They misguide people with sales tactics and cover the truth with persuasive language. This is why I started my own site which helps people get on the right track in Forex. I'm always transparent with the methods I use. I don't promote unrealistic approaches and I simply give newbies and novice traders real honest methods of trading. I don't intend to be promoting my site endlessly on Forums such as this. But being my first thread, I thought I'd tell people what I do etc. I enjoy Forex and if learnt properly it can provide an income stream for life. It's never smooth, there are always peaks and dips but it's an exciting career nonetheless. I encourage anybody struggling to find their way to visit my site and request the free resources available. I really enjoy hearing back from people as I like to feel like I did help them along the journey to success. Anyway that is my brief introduction. If you are SERIOUS about Forex trading, then at least make your first steps in the RIGHT direction.

David

 

[upshotsignals]

nice ad

 

[bathu]

wonderful

 

[jen]

Hello,

My first thread on this forum and I thought I'd talk about starting out in Forex. I remember when I first started out. It's very exciting and there are many ways of making extra income with Forex trading. My only problem when I started out was the amount of sales clutter on the net. There are too many people out there, trying to part newbies with their hard earned cash, in exchange for a Forex bot, or magic formula system. They misguide people with sales tactics and cover the truth with persuasive language. This is why I started my own site which helps people get on the right track in Forex. I'm always transparent with the methods I use. I don't promote unrealistic approaches and I simply give newbies and novice traders real honest methods of trading. I don't intend to be promoting my site endlessly on Forums such as this. But being my first thread, I thought I'd tell people what I do etc. I enjoy Forex and if learnt properly it can provide an income stream for life. It's never smooth, there are always peaks and dips but it's an exciting career nonetheless. I encourage anybody struggling to find their way to visit my site and request the free resources available. I really enjoy hearing back from people as I like to feel like I did help them along the journey to success. Anyway that is my brief introduction. If you are SERIOUS about Forex trading, then at least make your first steps in the RIGHT direction.

David

Well said. however, I would like to know how you intend to get this 'direction' you need to succeed in the forex industry? Apart from the free resources on your site of course!

 

[forexpot]

Forex Trading Solutions Guide

Forex Trading Solutions
Forex trading solutions are sold in many forms, such as forex classes, books, and ready-made systems.In fact, there are an increasing number of sellers willing to sell you a complete system, with the trading rules completely, partially on not at all revealed.
If the rules of the system are not revealed, the system is called a “black box” system, where you have to rely on the signals the system gives without knowing how they are generated.Constructing a profitable system is not cheap and thus you’ll find many of the systems sold for $3,000+. However, despite the system being profitable in the past, nothing guarantees that any buyer will make any money with it in the future.

Forex Trading Solutions - Strategies
When purchasing a solution for forex trading, one of the first things you have to think about is the strategy that you want the system to use.The major strategies in forex trading have to do with fundamental analysis and technical analysis.With fundamental analysis, you make your own view as to where the markets are headed based on economic and other indicators. Or, you rely on fundamental analysis of a third party. Based on this view, you then make your trading calls.As for technical analysis, you make your trading decisions on historical data (price, volatility etc.) of the forex currency pair. Technical analysis gives you signals whether you should be short or long of the currency pair or stay in the sidelines.Fundamental analysis is much harder to teach of these two because it can place extraordinary weight on appearances and interpretation of situations. To assist in the analysis, many use a variety of econometric tools.Some traders use a mix of the two, with fundamental analysis sometimes overruling the signals given by technical analysis.You can purchase solutions for both of these approaches. There are many technical analysis solutions sold as PC software, books and taught in seminars and classes. As for fundamental analysis, possibilities are to look for good books on the subject or enroll in a mentoring program that teaches you to analyze the fundamental information.

Forex Trading Solutions - Techniques
Once you have a trading strategy in place, learning about trading techniques will show you how to place actual intraday trading calls, how to use market stops and other orders and how to choose the best forex dealer.What techniques you use in placing trades can make a difference in your trading results. This is particularly true for day trading, where slippage (difference between intended trade price and actual price) can easily make otherwise feasible system useless.You can learn techniques from trading books, seminars, and mentoring. In fact, mentoring is probably the best way to learn how to effectively make trades. However, mentoring is also the most expensive of the trading solutions to learn techniques.

Forex Trading Solutions - Systems
Forex trading systems are turnkey forex trading solutions. The system gives signals for the selected currency pairs and the profits and losses are made by following these signals.There are many ways to purchase or subscribe to systems. Some companies offer subscriptions to trading signals via emails based on their system. Others let you buy their software, which is used with selected currency pair’s data to get the trading signals.Some systems are sold with all of the trading rules revealed. Others will be sold as black box systems, where you just get trading signals, but no detailed information what triggers the signals.

 

[goldrush]

Very interesting post. Thanks. I"m new to forex so I'll try putting this to good use.

 

[fxtrue]

I am new to forex, I follow you .Thanks for nice thread

 

[Rambo35]

Don't just blindly follow everyone. It can cost you too much.

 

[mr forex]

Forex trading is not for fun. Many people treat it as such and that's why they lose. For me trading forex is supposed to be treated as a real profession. It's my profession at least. Trading forex is what feeds me and my family. And nothing comes easy, it takes hard work and dedication and years of practice to get there.

 

[DennisWeiss]

Forex something difficult, especially for beginners who are looking for a big profit margin

 

[Dmitriy Enrst]

Forex something difficult, especially for beginners who are looking for a big profit margin

You should just start, even if you find it difficult to do. All successful traders were newbies in the past.

 

[Dmitriy Enrst]

And also I want to notice. The time will show if you are successful or not. Just begin and do smth. and try your best - 100%. So there is a great probability that success will come.

 

[triplet]

One way to be successful in forex perseverance is very important. It will help you to want to still trade and plan out new strategies that might be profitable even after a loss in forex.

 

[Dmitriy Enrst]

I agree too, you'd better not give up with first troubles. It is necessary to analyze the errors and try again to trade. I think many people have left the forex because they gave up quickly, although there were good prospects in the trade.

 

[chriswhite010]

Hey...I am a newbie in Forex trading market. And I want to become more and more successful and make more money through this. And after reading your posts, I think I can go to the RIGHT direction and secure myself from scams.

 

[pinbar]

For me there are two important things if you want to be successful in trading and those are knowledge and then practice. Without practice all the knowledge will not help you at all

 

[capitalvia01]

It is important to choose a broker who offers a trading platform that will allow you to do the analysis you require. Choosing a reputable broker is of paramount importance and spending time researching the differences between brokers will be very helpful. You must know each broker's policies and how he or she goes about making a market. For example, trading in the over-the-counter market or spot market is different from trading the exchange-driven markets. In choosing a broker, it is important to read the broker documentation. Know your broker's policies. Also make sure that your broker's trading platform is suitable for the analysis you want to do. For example, if you like to trade off of Fibonacci numbers, be sure the broker's platform can draw Fibonacci lines. A good broker with a poor platform, or a good platform with a poor broker, can be a problem. Make sure you get the best of both.

 

[assaad747]

I think that to be a successful trader you must have :
* A good trading strategy
* a strategy to overcame fear and greed
* risk management

3 things

 

[harissi]

to be successful in trading you just have to simply follow all the news and stay updated be on your computer on the right time and you will be able to benefit from all the opportunities out there

 

[Dawn Anthony]

I think that to be a successful trader you must have :
* A good trading strategy
* a strategy to overcame fear and greed
* risk management

3 things

Thanks Assaad, It is simple but helpful. These three key terms are the road map of gaining a great achieve! As per the AuthenticFx, the most successful tradings are:

#1: The Bladerunner Trade
#2: Daily Fibonacci Pivot Trade
#3: Bolly Band Bounce Trade
#4: Forex Dual Stochastic Trade
#5: Forex Overlapping Fibonacci Trade
#6: London Hammer Trade
#7: The Bladerunner Reversal
#8: The Pop ‘n’ Stop Trade
#9: The Drop ‘n’ Stop Trade
#10: Trading The Forex Fractal

However, good luck everyone with your trade!