Forex Trading Strategies
When 95% of traders lose money, what makes you think you can win? To see your chances of succeeding as a forex trader, here is a checklist for you to see and become one of the elite traders, who make tremendous long term profits.
Following are a few ways to lose money. You may wish to change your mind immediately if you are thinking of trying any of them. Do this to avoid losses and continue your forex education!
1. Following a Forex Robot with Simulated Gains – You can apparently achieve success without any effort as promised by these. You are asked to accept their track records simulated going backwards. Your equity will get destroyed by trying them.
2. Day trading and Scalping – Due to the random short term volatility, simply doesn’t work. Like the robots, even people selling these always have simulated track records.
Many more of these all fall into the category of trying to find someone else to give you success. This does not work in forex markets.
Apart from needing a trading edge, you also have to understand ways and reasons of it leading you to success. Let’s look at this in detail.