Wednesday, July 23, 2014

Forex Traders Taking Responsibility

All good traders understand that every trading decision and action made, is his own responsibility. You'll never meet a successful trader who blames someone or something else for the consequences of his trading results.
 
You see, it's only when you begin to accept full responsibility for your results, that you'll rule out the convenient possibility of using excuses. After all, it's much easier to TALK about why it's not your fault when you make a losing trade. It's easier to say "hey, I didn't know there was an important economic announcement coming out tonight" rather than to go and check out the actual schedule of economic announcements for the week.
 
You can just blame bad luck, or even blame it on the weather. But whatever your "reasons" are, they're not going to help you trade better at all. Once you finally realize that the only way you'll make money in Forex trading is to look out for yourself, you'll never be a successful trader. I'm sorry for being so blunt, but it's the truth.
 
No one's going to fight your battles for you. The moment you realize that you are solely responsible for your trading results, you'll soon start looking into ways to improve it.
 
Let me ask you: Do you actively monitor your trades using some sort of trading journal or trading log? Do you spend time looking over failed trades and whether they could have been avoided? If you answered "yes" to both questions, great! If you're not already a consistently profitable trader, you're going to be one soon enough.
 
But if you answered "no" to either question, you might want to think about how serious you are about Forex trading... there's no middle ground here: You either work hard at it and succeed, or you continue to give "reasons" for losing your trades.
 

3 Reasons Why Forex Trading Is Better Than Stocks Or Futures

3 Reasons Why Forex Trading Is Better Than Stocks Or Futures
 
Low Account Start Up And Maintenance Account Balance
 
Forex trading allows traders to start with a smaller trading capital than in any other markets. In fact, there is one forex trading platform which has only a $50 minimum account size (you can find their link at the bottom of the page). Another nice feature is that they have no minimum trade size. That type of flexibility opens the door to practically anyone who wants to check out forex trading. This isn't to say that all brokers are that flexible.
 
Perpetual Motion
 
What is really nice in forex trading is that there's always something moving. There are a bunch of primary currencies interacting, each of which is constantly interfacing with all of the others. The other markets certainly cannot make this boast.
 
Trade on Your Schedule
 
The stock market is available for a little over 6 hours a day and that is it but the forex trading market is running 24 hours a day. How is that for convenient? As a trader you can wake up at 3:00a.m and make a trade or when you get back from the movies, etc.. This opens up the market to people that otherwise would not have the time to do so. The market is never really closed, it is very convenient.
I mentioned a forex trading platform that is very reasonable and extremely efficient. in fact it is the best in the business. If you would like to check it out click on the link below.