Why every forex trader should avoid love at first sight with a forex broker - forex news trading broker

Why every forex trader should avoid love at first sight with a forex broker ~ forex news trading broker

A few unscrupulous forex brokers have given the forex market a bad name and ruined the chances of traders hoping to trade forex successfully.

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Ten Pips per Day Do you love money - forex news market clock mt4

Ten Pips per Day Do you love money ~ forex news market clock mt4

The bottomline thing of playing Forex is the passion for money. This is the underlying drive for it. The source of our determination and persistence to carry on despite numerous obstacles.

Its the same analogy in life when people wants to be a successful businessman, doctor or engineer. It all started with the passion and desire to be one! In Forex, its the same thinking! With a planned and conscientious effort, this is the same thinking that we must have when facing Forex, as its a kind of academy by itself!

Some people think that Forex is for them, some dont really want to do Forex and they think they want to do Forex, because it is instant money and they fail!

Proceed on Forex if you think this is your utlimate desire to live a worry free , passive income driven life!
If you dont want to spend your effort and strength to do it, leverage by asking an expert to do it for you. You can hire a forex expert whom specialize in earning pips for you, you set a target for him and he will achieve it for you!

Lets say you are 30 years old, and you have a $2000 account, a pro can make that account in 2 years to a $250K and make each month from that account 20% which is $50K per month. Your investor will take money and you will take from and you will live with a very good income in your 32s.

I believe I have it, I sit all day and I only do Forex, (I have free time thats why), and I like it, I really like it, and becuase I know myself, If i didn;t like it I wouldnt sit all day to learn it, because I know my character!

I tried for example to learn Maya, Autodesk a program that makes animation, and I would love to be able to do it!
I sit one day and then I was making excuses inside of me not to do it!

The same thing with other stuff too!
My only advice to Forex Investors is to do it only if you really really like it, not because it is just a easy way to make money, but because u feel comfortable doing it!
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10 Pips Per Day Temptation - forex news market_clock_2

10 Pips Per Day Temptation ~ forex news market_clock_2

As a forex trader, you’re constantly fighting your inner instincts of fear and greed. We’ve talked about how fear can affect your trading, but what about greed?


Forex greed is one of the psychological aspects you’ll  come up against and need to deal with as you’re trading.  An example of when greed can rear its ugly head is when you’ve entered into a “buy” trade, and price has moved up nicely and hit your target.   You’ve taken your profit but then price keeps moving, up and up and up! You kick yourself and think: “man, if I had just stayed in that trade …”.

This is a natural way of thinking but it is the WRONG way of thinking when it comes to forex trading.  The most important thing you can do is to stick with your system, the system that you’ve tried and tested and you know to be profitable.  So, if you’ve taken your profit on the trade, pat yourself on the back and say to yourself “excellent, I made a nice profit and I stuck to my system!”.  If the price keeps going up and up once you’ve exited the trade, then you just need to take it in, unemotionally.  Think to yourself: “wow, look at that price go.  I hope some of my trading buddies are riding that wave up!”.

Something else you can do that is constructive, is to analyze the times that the price keeps going, do some backtesting and forward testing and see if it’s worthwhile changing your system to incorporate a “letting the profits run” factor.   If, and only if the probabilities for success are better off in the long run, then you can adopt your amended system where you let the profits run a bit further – perhaps with a trailing stop.
Control your forex greed and remember the old saying: “it’s better to be out of a trade that you wish you were in, than to be in a trade that you wish you were out of.”
Trade with discipline and Trade Seriously!
Mark Thomas

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