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Thread: How to Take Control in Forex Trading

  1. #1
    Samuel23 is offline Senior Member
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    Default How to Take Control in Forex Trading

    Forex Trading is not that easy, all FX traders before they enter this business, they think that they will be rich very quickly and make $20 000 in one or two weeks, but when they begin trading currencies they discover it is not true, it is not easy to make money especially when we work with money. Very tricky business, many of us think that there is a conspiracy planned by "THE BIG GUYS", they know what we think what we plan to do and they do the opposite to steel our money, many times we think to make the opposite of our decision (if I see the market is going up then I will sell). And we begin searching for someone to help us making at least 200 or 300 pips a month, probably many of us work with signals advisors who simply took our money and probably do not help us making decent profit. Many of us thought stop trading many of us quit FX trading but I think most of us will not quit easily because we see in it a golden opportunity to have our own business and make our fortune!

    Foreign exchange is an opportunity to make a fortune and in same time it is an opportunity to loose our money, we can make a fortune if we knew how to handle Forex, if we don't know how to control Forex it will destroy us, so we must be stronger than it, and if we don't know how to control it with our own hands it will destroy us too. So how I can be stronger than this ferocious beast? It is simply by learning, observing, and practicing. The FX market will not go anywhere it will be trending and ranging for ever, so learn from experienced traders how they became that good, observe charts and look for common points look for the reason why the price change direction, and when you discover the reason which influence a currency you will have in your hand the first tool that gives you control. And each new thing you discover, try it on a demo account, see if it is valid and develop it. In this Forex article I am helping you to find your way, this Forex article does not give you the fish but it teaches you fishing. There is no conspiracy theory in this business, no big or small guys, we loose because we don't know, and the first thing we must do to become good traders is to admit that we don't know and we must always learn.
    johnstarks likes this.

  2. #2
    johnstarks is offline Member
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    thanks, Great article........

  3. #3
    Sng
    Sng is offline Member
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    Good points. Big players earn big money. Small players liker us earn small money.

  4. #4
    Samuel23 is offline Senior Member
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    Exactly, big player earn big and small player earn little. This is how it is - big player do have capital to invest in this market and if you trade with big money the income will be bigger. However, it a 2 ways system, if they invest big they can also lose bigger. As from our part we small traders we make sure that we earn a little and we make good of it. We are somehow better than them as we invest little and learn a lot and this make us more discipline in the forex market.

  5. #5
    Samuel23 is offline Senior Member
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    We should not quit easily forex but we should not quit only if we know forex completely. Some of us find it hard to trade forex and i unable to understand it at all. However, if we do know and have a good knowledge about trading. I have come across many traders who is actually trading almost all the day and they have made this their job as well. It is a risk but if we know Forex well then we can tackle it and make it our profession.

  6. #6
    Sng
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    Yes. some are successfull and trading full-time. But some not that lucky and blown out many account. Always remember there is risk in forex trading and only trade with what you can afford to lose.

  7. #7
    biz4tech is offline Junior Member
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    I am very happy to read your thread and I am looking fx article help, but how I don't know where?
    http://www.sfinances.com/

  8. #8
    Samuel23 is offline Senior Member
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    Quote Originally Posted by Sng View Post
    Yes. some are successfull and trading full-time. But some not that lucky and blown out many account. Always remember there is risk in forex trading and only trade with what you can afford to lose.
    Thanks for sharing such post sng, we should know how to trade and should trade wisely as our money will be involved. If we seems that we can invest an amount of money in this market we should also make sure that we try our best to double instead of losing it in one trade.

  9. #9
    Samuel23 is offline Senior Member
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    Quote Originally Posted by biz4tech View Post
    I am very happy to read your thread and I am looking fx article help, but how I don't know where?
    There is many forums and websites who provide FX Articles, i will advice to go on babypips as tey provide basic learning about Forex and also dailyfx which is also really helpful. Try them out and let me know how you find it.

  10. #10
    mdenamul is offline Senior Member
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