Tag: trading psychology

Why Do Most Traders Fail?

Trading Articles
It is often said that 95% of retail Forex traders fail and end up losing their entire accounts and while I can not confirm what the actual statistics are I can see no reason to seriously doubt these claims. Whatever the failure rate in retail Forex is I can tell you this, it is the vast majority who fail. If you were to ask a broker how many of their accounts were profitable however you may get a very different answer, they might tell you, for example, that 33% of their traders were profitable. But this wouldn’t mean that 33% of people who tried retail Forex trading were successful; because many more people would have failed and would no longer even have an account as a result and they would not even be counted. So why are so many people who try their hand at Forex trading so unsuccessf

4 Crucial Principles a Forex Trader Needs to Follow

Trading Articles
If your decision to join Forex trading family is adamant then you must know that for trading this biggest market in the world you need the same qualities which serve us in life. Don’t lie to yourself After you missed a trade or placed the one which is totally out of your trading plan criteria, take a necessary break: try to identify the reasons for those actions or non-actions. What emotions lead to this ending? Being truthful to yourself in finding mistakes and correcting them is a big deal of a mature trader’s thinking. Admit that even robots fail, so common mortals leave by mistakes and should learn from them. No taking personally Remember that trading is business and this kind of market appreciates no greed or fear. You must be detached from all of your emotions, opinions,

Top 3 Things You Should know for Forex Trading Success!

Trading Articles
Top forex trading takes a few things if you want consistent and lasting success in this market. This is especially true if you are just beginning your trading journey: Have a look a few things you ought to know: Top 1: Know how to best apply your capital I think for new traders on a somewhat of limited capital base forex is the best market for you to trade. The beautiful thing is it provides the most opportunity for traders with less than a large amount of capital.There are three different types of accounts for a diverse range of traders. The standard account, provides large amounts of leverage for those who are well-capitalized. I would only recommend it to traders with at least $10,000 or more. For traders who don't have that or less there are mini and micro accounts in which the pi...

Forex Trading: A Disciplined Approach Means Treating It Like a Business

Trading Articles
Achieving success in the complex world of currency trading can be a daunting task. Newcomers to the genre are frequently discouraged by the apparent length of time that must be invested in acquiring knowledge and free demo experience before active trading with real money can commence. Forex trading is high risk under high stress conditions. Specialized training is a must, but many beginners stumble early on in their learning process due more to psychological factors than most anything else. Next to knowledge and experience, controlling one's emotions is paramount. Studies in trading psychology have continually confirmed that our minds can become our worst enemy, especially when the conditions involve real money and high stress, as with forex trading. Even Warren Buffett, who most likely...