THE TRUTH ABOUT FOREX TRADING
Trading is not rocket science”, you must have heard this statement millions of times already and
I bet you must be sick of hearing the same ‘mambo jumbo’ over and over again.So, let’s make it clear once and for all, so that you have a better picture of what trading really means. Trading is simply a game of probabilities. It’s just like flipping a coin where one side is your broker and the other side is you.The two outcomes most likely to occur are, you lose and the broker wins or, you win and the broker loses. The probability of using the above system is 50/50, a win or a loss. Thus all the systems that you may have come across relies’ solely on probabilities. They are not all-50/50 system, some have a very high rate of success, around 80%+ and some have a smaller rate of success but still provides good return.Whichever trading system you use, be it pivot points, Fibonacci, breakout, Divergence, swing… always remember that it is crucial to follow the rules. If you are using someone else’s system make it a point to understand all the ‘ins and outs’ of the system and stick to the rules that were laid out to you.The number one cause of failure for many traders learning someone else’s system is that they try to modify the set-up and bring their own touch to it before fully understanding the system. The best thing to do is to follow all the rules and master the system given before thinking of making any changes. “Do not fix what is not broken”Don’t get caught up in search of the ‘Holy Grail’ as it simply does not exist. Find a trading system that you like and that adapts to your personality, one that you are comfortable with. Stick to it and be consistent while following the rules with a disciplined mind.Don’t get caught up in this HYPE that are EAs. Think about it, if those so-called perfect EAs were so profitable, why do big banks not use them instead of having a human trader trade their money. Stay away from EAs that promise 100% to 200% returns in a month. Not all EAs are bad, I personally use some which are, believe it or not, very profitable.I wish you all the best. Happy trading. Ash Naeck http://www.forex-trading-domain.com
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