Forex Trades – How to Make Consistent Profits
Currency trading involves the global exchange of currencies and in most cases the major aim is to make gains and survive. The currency market has become more profitable as the years roll by, and we are seeing an influx of new investors every day. With a daily volume of around $4 trillion, the market has all it takes to accommodate everyone. You must have heard industry experts make mention of stuffs like forex brokers, forex robots, economic calendar, pips and so on. The business of forex trading is like every other business, with most forex traders not making consistent profits. It is also true that most traders never make profits at all in this business. Being a success in this business entails commitment and perseverance on your part.
Passion for this market is another thing so many people out there lack, the passion helps you learn all you can muster about currency trading. I am aware that some people look at forex trades as just nothing more but registering an account, downloading client software and then the big bucks keeps rolling. I’ll have to share with you some secrets about forex trades. As a forex newbie as well as an advanced trader you’ll find this very informative. I’ll start by saying that: nobody wins the market every day. In-depth market research has shown that 95% of forex investors lose money each day. If you nurture the simple notion that forex trades would always go positive, it would be wise if you stop and rethink.
As an expert trader, having the right and proper tools is the best way to become successful in this business. Of course, some of the tools would come with a price, but let me assure you on this one that having the right tools with you differentiates you from the losing crowd.
An investors trading account can be wiped out within minutes or even seconds, if he fails to apply a reasonable money management technique. The mistakes many traders make is that of too many forex trades, they tend to have numerous positions opened in the market and soon end up losing so much when the market jilts in an opposite direction. To survive in this business a veritable risk management strategy has to be developed alongside your trading system. If this is properly handled, then you’ll be sure of taking pressure off your equity.
You’ll require a trading system that is profitable to make consistent profits in the FX market. The system should be designed such that it fits your style and trading philosophy.
A positive mindset is what you need to be successful in this business; you would come in contact with days where your trades would be red. Knowing that even the pros have red on their screens, make you have the confidence to bounce back. There’s absolutely no 100% win ratio and thus don’t go looking for any trading system with bogus claims of such.
nice post dear very nice thread .
"As an expert trader, having the right and proper tools is the best way to become successful in this business. Of course, some of the tools would come with a price, but let me assure you on this one that having the right tools with you differentiates you from the losing crowd."
can you plz explain these lines and which type of tools you are taking that comes for some price.
http://www.xynafx.com/ Xynafx ... fund managers and forex signal service providers Minimum investment for our Forex managed Account service is $2k that will be managed individually in one investors account. XynaFx signals As low as $26 per Month.
I dont think that a newbie can perform better using good tools. That is one of the main reasons why even some very good EAs fail when used by newbies. Most of us agree that the best system is the one developed by our own experience.
Making profits consistently is not this easy. No doubt that managed accounts and signal following have made profit making easy. That is why EAs and strategies are becoming unpopular among beginner to intermediate traders who r striving for profits.
In-depth market research has shown that 95% of forex investors lose money each day. If you nurture the simple notion that forex trades would always go positive, it would be wise if you stop and rethink.
Yea. This research is valid if we talk about 2 years back. it was said that 90 to 95% traders loose money in forex. It was bcoz most of the traders tried to make profits manually. But now there are many technologies which include PAMM, EAs, signals and some many resources to learn different aspects of trading. So this percentage has decreased a lot. There is no confirmed research so far in this field. These are just ideas. So based on current circumstances, this 9% figure is too big.
Originally posted by ChampIn-depth market research has shown that 95% of forex investors lose money each day. If you nurture the simple notion that forex trades would always go positive, it would be wise if you stop and rethink. Yea. This research is valid if we talk about 2 years back. it was said that 90 to 95% traders loose money in forex. It was bcoz most of the traders tried to make profits manually. But now there are many technologies which include PAMM, EAs, signals and some many resources to learn different aspects of trading. So this percentage has decreased a lot. There is no confirmed research so far in this field. These are just ideas. So based on current circumstances, this 9% figure is too big.
There is still a major percentage of traders who r loosing on forex. Sites like fxstat r making some difference but it is just a beginning. I think that the loosers percentage is still above 80%.
very nice post i guess i have learnt alot.
Consistency in profits is only possible with good experience, good plan and a successfull strategy. Consistency doesnt mean that we shold win all or most of the trades. If we look at T0009 statement, he has around 40% winning trades but with good money and risk management, he is able to make very good profit. Not even a single month was of loss.
Danielswerd, when are you going to show us HOW to make consistent profits? I don't see any strategies or trade examples that show us how to do it.
Thanks.
I think Danielswerd's choice of words is right here '[...] 95% of forex investors lose money each day'. I think there is a difference between an investor and a trader. Anyone can invest, not everyone can trade.
The best way to make consistent profits is by having a profitable trading plan and trade with patience and discipline and also to make sure that we minimize our risks and losses and then aim to make some consistent and regular profits .
If you want to make a good amount of profit then you should have to be more careful while doing trading and trade with some discipline and never greed and just give you best all the time.