Sortfix is a tool that helps find the correct stuff on the web. They utilize a several search engines for searching (Google, Bing, etc.) and then offer ?power words? to make the search more precise.This method helps make the search more precise.
With Sortfix, I found that forex is correlated with easy money. Anyone that trades knows that it isn?t easy. Too many sites promising automatic or easy cash probably created
In normal life working hard and being clever can often mean you make more money but in Forex trading neither apply or will make you money, just understand the following if you want to win…
Why You don’t need to Work Hard
Anyone can learn Forex trading in a few weeks and make money in 30 minutes or less per day. You don’t need to work hard you need to work smart get the right Forex education and apply your knowledge with discipline.
It doesn’t matter how long you take to generate your trading signal you are judged only on the result.
Many traders work hard, lose and think the more information they have the better and there always swapping systems etc where they should just get one and stick with it.
Why You Don’t need to be Clever
It’s a fact anyone can learn Forex trading and simple systems work best as the market is based on odds – in fact its very similar to playing poker, you play the odds correctly and win.
Why Keeping it Simple and NOT Working hard is the Right Way
More top traders in the world come from a background of poker than they do mathematics and these guys make a killing – they keep it simple and play the odds and if you do to – you can win.
The Forex markets haven’t changed in 50 years and the same ratio of losers to winner’s remains, despite all the advances in forecasting and education which leads to an obvious conclusion it doesn’t help.
Forex trading is hard because you need the discipline to apply your method and this means keeping losses small as the market hands you a losing period – this is where most traders fail and you need to get the right mindset to succeed.
Its mindset rather than working hard or complicated methods which is the most important trait when seeking Forex trading success.
Work smart, keep it simple and have mental discipline and confidence and you can win at Forex.
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Sortfix is a tool that helps find the correct stuff on the web. They utilize a several search engines for searching (Google, Bing, etc.) and then offer ?power words? to make the search more precise.This method helps make the search more precise.
With Sortfix, I found that forex is correlated with easy money. Anyone that trades knows that it isn?t easy. Too many sites promising automatic or easy cash probably created
Forex day trading systems are popular and there are numerous ones for sale on the net and they make big claims but never have a track record that’s real, its always simulated in hindsight – why don’t they make money lets find out…
Here is the disclaimer you always see and it’s not worth the paper it’s written on in terms of helping you make profits:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.
All the track records you see on day trading systems carry this or a similar disclaimer.
All it means is – the vendor can make money by having the closing prices to hand and simulate (make up) an appealing track record. You never see a simulation lose!
The reason is you, me or my seven year old niece, could make money knowing the closing prices.
Of course this is why these systems never make money, because in real life you have to trade not knowing the closing prices!
You have to wonder why any forex trader would buy a forex trading system from a vendor, when the vendor hasn’t got the confidence to trade it himself – but they do, in huge numbers and are blinded by greed and fear.
So why doesn’t day trading work?
Common sense really, you have countless millions of forex traders who all think differently and this vast diverse mass make the price. You can’t possibly hope to measure what such a diverse base of people will do in a day or less.
Anyone who says they can – ask for their real long term track record to prove it.
Volatility is random in short time frames and as prices can go anywhere in a day session, therefore you can never get the odds on your side and never win.
How to Win
If you want to make money at forex trading do not base your forex trading strategy on day trading. If you want to win either, swing trade and look for moves lasting between a few days and around a week or long term trend follow.
Both the above can work day trading doesn’t.
So leave forex day trading systems to the na
Forex day trading systems are popular and there are numerous ones for sale on the net and they make big claims but never have a track record that’s real, its always simulated in hindsight – why don’t they make money lets find out…
Here is the disclaimer you always see and it’s not worth the paper it’s written on in terms of helping you make profits:
“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.
All the track records you see on day trading systems carry this or a similar disclaimer.
All it means is – the vendor can make money by having the closing prices to hand and simulate (make up) an appealing track record. You never see a simulation lose!
The reason is you, me or my seven year old niece, could make money knowing the closing prices.
Of course this is why these systems never make money, because in real life you have to trade not knowing the closing prices!
You have to wonder why any forex trader would buy a forex trading system from a vendor, when the vendor hasn’t got the confidence to trade it himself – but they do, in huge numbers and are blinded by greed and fear.
So why doesn’t day trading work?
Common sense really, you have countless millions of forex traders who all think differently and this vast diverse mass make the price. You can’t possibly hope to measure what such a diverse base of people will do in a day or less.
Anyone who says they can – ask for their real long term track record to prove it.
Volatility is random in short time frames and as prices can go anywhere in a day session, therefore you can never get the odds on your side and never win.
How to Win
If you want to make money at forex trading do not base your forex trading strategy on day trading. If you want to win either, swing trade and look for moves lasting between a few days and around a week or long term trend follow.
Both the above can work day trading doesn’t.
So leave forex day trading systems to the na
The rise of the internet has seen more news and FOREX education than ever before become available to traders and it?s available instantly, but it won?t help you make money.
In fact if you try and trade by utilizing news stories you will lose and a simple fact will explain why:
Fact:
Consider this:
50 years ago around 90% of traders lost all their money and this figure remains the same today 90%.
This is despite the huge range of new tools and breaking online news that is available to help traders ? the ratio still remains the same.
The reason for this is an important part of your FOREX education:
Markets move to the following equation
Market fundamentals + Investor Perception = Price movement.
We all see the news but it is the way all the investors interpret it that is important.
The market is a discounting mechanism and all the news instantly is reflected in the fundamentals.
If you see experts talking on the TV or writing stories, then this information is discounted ? The arguments may sound convincing, but that is what the media does sell stories.
The experts who put out stories are not traders and their more often than not dead wrong.
If it was easy to trade off news stories, a lot more traders would make money and the fact is they don?t.
By listening to the news and acting upon it you will lose.
Let?s go back to the equation:
Market fundamentals + Investor perception = Price movement
As the market is instantly discounting news we can simply assume all fundamentals and news is instantly reflected in price action.
All you need to do is follow price action and focus on investor perception of the fundamentals.
This makes a technical approach ignoring the news the best way to trade the markets.
As investor psychology is constant, repetitive chart patterns can be spotted and acted upon.
If you try and use the news you will simply lose.
Consider the fact that markets collapse when the fundamentals are most bullish and rally when they are most bearish and you will see that trying to act of the news is a waste of time.
How many times do you see a market ignore the news and go the other way?
It happens all the time.
Will Rogers famously said:
?I only believe what I read in the papers?
He was joking, but many FOREX traders actually do believe what they read and think they can trade off it and lose.
The market is a discounting mechanism and trying to trade off news stories will most likely see you fail.
So if you want to make money trading FOREX keep in mind this important bit of FOREX Education
Understand the past, think in the present and look to the future.
You can do this by simply following technical analysis and see future trend changes people listening to the news will never see.
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