Are you struggling to make money in the foreign exchange market? Do the wild swings drive you crazy while your account dwindles?
I know forex trades can be tough because, believe me, I've been there. I would place a trade and seemingly out of pure meanness the market would whip around and gobble up all my money.
Or sometimes I would have a nice profit, then the market gods would decide that I have made too much and shave off about half of my profits in just minutes.
If the apparently random moves of the market have got you down, don't feel bad. Studies show that 89% of forex traders lose money and eventually quit trading.
What secret do you suppose the 11% of the successful traders know that the other 89% don't know?
Actually there are several secrets. Over the years, I have (painfully) uncovered these secrets and become successful.
Here is my first secret. You have to trade in a time frame that smooths the randomness. Many traders think that day trading for a few pips here and there is the key to riches. Actually the forex market can provide very nice trends over longer time frames. These trends allow you to rack up big profits. But short term market moves will eat you alive.
Yet, I'll bet that many people you talk to about forex consider it a day trading vehicle. Little do they know that the big money is in the longer term trends. But now you do.
You can learn to trade forex profitably. But there are many more secrets up my sleeve that you need to know to be a successful forex trader. Follow me on my blog as we use little known tools to consistently take money out of the market.
I know forex trades can be tough because, believe me, I've been there. I would place a trade and seemingly out of pure meanness the market would whip around and gobble up all my money.
Or sometimes I would have a nice profit, then the market gods would decide that I have made too much and shave off about half of my profits in just minutes.
If the apparently random moves of the market have got you down, don't feel bad. Studies show that 89% of forex traders lose money and eventually quit trading.
What secret do you suppose the 11% of the successful traders know that the other 89% don't know?
Actually there are several secrets. Over the years, I have (painfully) uncovered these secrets and become successful.
Here is my first secret. You have to trade in a time frame that smooths the randomness. Many traders think that day trading for a few pips here and there is the key to riches. Actually the forex market can provide very nice trends over longer time frames. These trends allow you to rack up big profits. But short term market moves will eat you alive.
Yet, I'll bet that many people you talk to about forex consider it a day trading vehicle. Little do they know that the big money is in the longer term trends. But now you do.
