Why Some Fail At Forex And Some Win Like A Landslide

Foreign Exchange is the largest of the global financial markets.

It's about exchanging one countries currency for another. Trillions of dollars are traded each and every day. In the early days it was used by large banks, multinational corporations and extremely wealthy currency speculators. The influx of online brokerages has created a large retail foreign exchange market. Banks and large multinational corporations generally trade foreign exchange transactions simply as a function of doing international business or to hedge themselves to protect their base currency from devaluation.

Forex speculators exploit fluctuations in the foreign exchange market for profit. Currency trading happens throughout the day, as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends. Forex markets provides strategies and instruments to the investor and corporate companies that look to have better value from their international risk exposures. Because foreign exchange is an OTC market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house.

Forex is all about making money with foreign currencies, buying at a lower price and gaining profit by selling at a higher price. Discipline is the key to most business ventures. Foreign currency trading is no different. Currency trading is a venture that you need good information about. A lot of traders make it hard on themselves by not getting the correct information. Currency trading can easily done, but 90 percent of traders lose money. Why do they lose at this? When the system you are working with becomes to complicated you lose valuable time getting bogged down with unnecessary information. So how can it be done successfully? A proven simple system or platform plus discipline will give you trading success. Keep the system simple. A complicated system is hard to understand and tends to be stressful. With a simple system a person is able to understand better and in turn trade with discipline. Take a bit of time to research a few systems. It will be beneficial to you.

You need your strategy mapped out. This is very important to any business venture. It really doesn't have to be mind boggling. Find the simple platform for you or find a person who knows this market. Keep in mind success comes with tight money management. Do you want success in forex trading? Understanding is needed and belief that you can be a success is extremely important. You can be a winner in the field of currency trading. Use the tools available to you. Have fun and make some good money..

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Trade, Compete, and Win - Begins the 1st of Every Month!
ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest

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All prizes are CASH prizes with no restrictions on withdrawing the prize money! How Do I Enter?
You don't have to pay any fee to enter this contest, all [ForexGen] mini Accounts with a balance of "$1000" and a default leverage of 1:200 are entitled to participate in this contest upon their account holder request by sending an e-mail request on live.contest@forexgen.com

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Why Demo Account Performance Is Better

Over the past several years, the popularity of online currency trading has grown substantially.Each day, online ForexGen attract new investors - each of them lining up with a glint in their eye, lured in by promises of easy money.

Most of these companies allow you to sign up for a free demo account which lets you place mock trades using their trading platform to get a feel for the excitement of currency trading. In the casual world of free demo accounts - many young traders find they are able to garner impressive profits without a significant amount of effort. It almost seems too good to be true.

But transferring this success from a demo account to a real account is far less common. Why is this? The actual trading platform behaves the exact same way, the market doesn't care whether you're a demo or real trader - so what is different? It's you who has changed. Not your personality, not even your trading style - but the factors that affect you are different.What is the key factor to trading success?The search for the "Holy Grail" of trading has been a common theme throughout the history of markets. There are a variety of different techniques. Those whom are inclined towards number crunching and pattern recognition may prefer technical analysis, whereas those more focused on the big picture, logical macro perspective prefer fundamental analysis. Then there are specific methodologies like swing trading, trend following or even more esoteric ideas like the Elliot Wave theory. Which one is best? There are examples of very successful traders using each methodology.

Since most new traders lose money - perhaps the more appropriate question to ask is, "What is the key factor to trading failure?"Greed and FearTrading is an atmosphere rich in the porous emotions of greed and fear. The current price of a given security or financial instrument at any point in time can be thought of as the confluence of greed (bulls) and fear (bears). These two emotions make up the core of humanity itself.

When market information is released, trading can be a high intensity experience. Sensing danger, your body releases adrenaline that acts to accentuate both your greed (fight) and your fear (flight). Because these emotions are so strong, they can cause you to act irrationally, ignore your system, stated set of rules or trading plan and to act upon impulse. Indeed, this is a genetically programmed response - but it is often also the trader's downfall, especially when he's playing with much better capitalized, more sophisticated and experienced foes that know how to manipulate those emotions.

When you are a trader - you are always under the influence of at least one of these two emotions, even if you don't have any trades on.Impact of fear and greed on your tradingIf the market's going up and you're in - greed is telling you to buy more and fear is telling you to take your profits while you still can. If it's going down, fear of being wrong makes you hold onto a losing position - and then greed sometimes convinces you to "average down" your position (and buy more) so it'll be easier for you to come back.

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