Introduction On Forex

Trading forex is not for everyone. It involves risks. Part of your learning involves knowing how to control your losses and not just about profits making.

There is no gaurantee that you can become millionaire in trading forex or turn $2000 to $200,000 in less than one year. If you are willing to trade with large contracts and to undertake a big financial risk, you might get to somewhere there.

Trading results of each trader differs due to the difference in the level of knowledge about the market, trading styles, trading experience, psychology, the level of discipline and the ability to manage risks effectively.

There are no strategies that work 100% of the time. Do not be taken in by anyone who claims that they have a forex trading strategy that will guarantee you profits. It does not exist.

We can only talk about whether a particular strategy has a higher probability of bringing you profits and not which particular strategy is 100% accurate. One important rule of trading is that if it is a proven strategy that works more than 50%accuracy of the time, you have to stick to it. Don’t throw it away when it didn’t work on you once or twice. Accept the fact that there will be times when the setups do not go the way as planned. If every trade are to work out profitable all the time, then there are no risks in forex trading.

7 Habit of Successful Traders

1) Try demo account for 3 to 6 month before dealing with an live account.

2) Trade only when all the criteria for you to trade is meet.

3) Enter the market promptly at the entry point or you will loss it fast

4) Always put a stop loss for any trade

5) Accept that your wrong if your trade hit stop loss and move on to the next

6) Trade with system, not prediction; Never hope or pray that market goes your way

7) Remember that you don't have to be right all the time