By Nigel Banks
Listen there is an easy way and a hard way to go about any business.
You already know this from your own life experiences. The fastest way to get good is to do what has already been proven to work, to do the things that have already gotten results from others.
However in the currency markets there is so much hype and so little help that most beginners are confused about how to make money forex trading.
Here Are The Facts:
No
What it does mean is that most beginning traders will fall for just about anything because they do not know what it takes to trade successfully. However this does not mean that one cannot trade successfully. There are many traders who are taking profits from the markets as you read this page. And these are not just the traders with huge equity accounts, but simple every day folks.
What Is The Difference?
The difference between the 92% who will lose their funds and those that will continue to profit is how they trade.
First off they do not follow guru's. Most gurus profit off what is called "churn" which is the rate at which newbie traders enter the markets. Wide eyed and believing anything, these guru's can sell the newbies on their tools, tactics and strategies. So the newbie pulls out their Visa, slaps down the $145 USD per month membership fee and off to the markets they go to lose their equity account.
While real traders - traders who take profits from the FX every day - use simple (almost embarrassingly simple) tools to rake in profits every week.
The Tools To Make Money Trading Forex
These tools include simple trading indicators such as Stochastics and MACD which measure market momentum. They are a simple way to follow the trend of a particular currency pair.
The other tool that is used is software. The software comes under many names: Forex Expert Advisor, Trading Robots, Autopilot Software. There are various types of this software but the better ones all use very simple trading indicators to track markets 24/7 looking for small profit opportunities.
And because they are software based, they are excellent at taking the emotions of fear and geed out of trading decisions.
This type of software is, quite simply, the easiest way to make money Forex trading.
You already know this from your own life experiences. The fastest way to get good is to do what has already been proven to work, to do the things that have already gotten results from others.
However in the currency markets there is so much hype and so little help that most beginners are confused about how to make money forex trading.
Here Are The Facts:
- Traders take profits from the market every day
- 92% of investors will lose their money in the markets
- Most guru's are dead wrong in their predictions
- Commercial traders do not trade the same way as public traders
- Commercial traders have tools that public traders do not.
No
What it does mean is that most beginning traders will fall for just about anything because they do not know what it takes to trade successfully. However this does not mean that one cannot trade successfully. There are many traders who are taking profits from the markets as you read this page. And these are not just the traders with huge equity accounts, but simple every day folks.
What Is The Difference?
The difference between the 92% who will lose their funds and those that will continue to profit is how they trade.
First off they do not follow guru's. Most gurus profit off what is called "churn" which is the rate at which newbie traders enter the markets. Wide eyed and believing anything, these guru's can sell the newbies on their tools, tactics and strategies. So the newbie pulls out their Visa, slaps down the $145 USD per month membership fee and off to the markets they go to lose their equity account.
While real traders - traders who take profits from the FX every day - use simple (almost embarrassingly simple) tools to rake in profits every week.
The Tools To Make Money Trading Forex
These tools include simple trading indicators such as Stochastics and MACD which measure market momentum. They are a simple way to follow the trend of a particular currency pair.
The other tool that is used is software. The software comes under many names: Forex Expert Advisor, Trading Robots, Autopilot Software. There are various types of this software but the better ones all use very simple trading indicators to track markets 24/7 looking for small profit opportunities.
And because they are software based, they are excellent at taking the emotions of fear and geed out of trading decisions.
This type of software is, quite simply, the easiest way to make money Forex trading.
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