Traits of Successful Forex Traders

If you want to become successful and survive in forex trading then there are some essential traits that you need to adopt. These traits are the characteristics of the most successful traders who have made millions in the forex market:

Discipline

Discipline is one of the top qualities that you will find in any successful forex trader. They always stick with their system and follow a plan. Discipline protects you from greed and fear by constantly keeping a proven trading strategy.

Acceptance

Acceptance of inevitable wins and losses is a valuable trait in forex trading. A successful trader develops a detachment from the market and remains calm no matter which way the market moves. He accepts losses as lessons and looks forward to future trading opportunities.

The successful trader realises that it is impossible to control the market and that losses will happen despite the best plan. Successful traders understand that a loss is not a market conspiracy, incompetence on behalf of the broker but is the reality of trading.

Mind control

A successful trader never gets driven by greed or fear but keeps his mind under control and follows the system that he has tested and proven to work. He avoids being impetuous and chasing market fluctuations, or giving up in the event of losses. The successful trader has developed detachment and treats trading as a game rather than an emotional matter.

Playfulness

To successful trader, trading forex is an intricate and challenging game. Money is not the goal, but only a way of keeping track of success.

The best traders revel in pitting their mind against the market. They apply their skills in a similar way to how a top ranked golfer tackles a new golf course. Top traders love trading, and they live, eat and breathe the market. This enthusiasm is what sustains their involvement in trading, even after they have attained massive financial rewards from the market.

Accountability

A successful trader accepts responsibility for his trading results. He never blames a third party for any losses. This means that he is open to learn lessons from the market. Refusal to accept responsibility and attempting to blame someone else would deny the trader the opportunity to fine tune his trading strategy and personal response to the market.

Follows long term trends

Following long term trends is the basic strategy for a successful trader. If you trade short term market movements then you will find it very difficult to survive in the market as these movements are very much random and can reverse any time. But the long term trends show much more consistency so they are the safest option to trade.


About the Author

Jubair Ahmed is a senior writer/analyst for My Forex Trading Help, an information site offering free tutorials on becoming a successful forex trader.

Article Source : http://www.goarticles.com

A Quck Look at Automated FAP Turbo Robot

Automated FAP Turbo Robot A Honest Review


A Profitable Forex Trading Tool you Need to be Successful in the Forex Today ..Watch LIVE trading Now...CLICK HERE

The advantages of trading Forex are obvious:

Low Startup - You can start with as LOW as $50!
Huge Market - $3 TRILLION traded around the world every day (Actually, the Forex market is bigger than ALL the world stock, bonds, and futures markets combined!)
24/5 - Non stop action, 24 hours a day 5 days per week (Monday through Friday)
Volatile - The most volatile market in the world...what does that mean? HUGE opportunity every moment of the day
Low Cost - While with stock trading, futures and options you pay spread plus commission, with Forex your only "cost of trade" is spread (that can add up to ALOT!)
No Cornering - Unlike any other markets, it is IMPOSSIBLE to corner the Forex market....and, no matter how many people trade with the same robot its efficiency and profitability will remain intact (HUGE plus)!
Up & Down - Profit from rising and falling prices...you don't care which way the market goes. Ohhh...and, unlike with the US stock market, you don't have to wait for an up-tick for shorting!
No Size Limit - Trade as BIG or as SMALL as you want! This is something that ONLY the Forex market allows you.

A Profitable Forex Trading Tool you Need to be Successful in the Forex Today ..Watch LIVE trading Now...CLICK HERE

In November of 2008 forex traders had mixed emotions before the lauch of the FAP Turbo Robot, it was just another attempt at automated foreign exchange trading.But what happened was clearly the opposite. The Robot converted the skeptics to avid users and these people are now recommending the product to others.

With so many advantages attached to the Robot, any forex trader (experienced or not) will definitely gain something should he decide to shell out $149 for the package.There is nothing to worry about losing this amount though, since there is a 60-day money back guarantee just in case the buyer doesn't find the product effective for his trading.

The sales site is similar to many other automated forex robot sites. But look closely and you will observe a LIVE account trading and being updated. The Live feed section has been running for some time and is very impressive.

The use of tight stop losses is a feature that impress many forex traders. Many other forex trading software utilize large stop losses with smaller profits.You need a system that provides tight loses to limit failures results to a minimum.

Those who are still having second thoughts about the program can just visit the website and check out the live account that is trading, which appears to be totally legit. It would be natural to have reservations, since the impressive results being shown seem too good to be true for a somewhat affordable package price of $149.

Come to think of it, if the actual results would be just as eye-popping as those seen in the website, wouldn't it be a reason for the developers to place a higher tag price on their product? The price is right considering the research and developement investment.

Some people veiw this as another online scam devised by Gurus who know how to tweak websites into luring your hardearned money into purchasing false tools.

Marcus Leary developed the Forex Autopilot, the three developers are forex traders themselves and took the challenge from Marcus to better his system...they did. the three developers improved the shortcomings of forex autopilot and enhanced the strengths of the software. The results are an Automated FAP Turbo Robot that has a winning LIVE average of 95% and a loss rate of about 0.35%.

Constant upgrading of algorithn, logic and technical specifications occur routinely. The three developers are improving the software continuously making the software more efficient and more productive and profitable for the successful trader in the forex market.

For $50 you can start a live account...or a mini account for $250... or Free Demo for 30 day with an active broker...start small ..see how FAP Turbo can increase your profits.


A Profitable Forex Trading Tool you Need to be Successful in the Forex Today ..Watch LIVE trading Now...CLICK HERE


Hands down...FAP Turbo is the absolute best and most complete income solution for people who:

Want to trade with the most accurate and profitable Forex robot in the world - 95% Winners.
Can't Monitor the Forex Market because of a day job, commitments, etc and want an automatic software to do it for them.
Want to trade Forex profitably but don't know how (no need to know, the robot does everything for you...from A to Z!)
Want a secondary or primary income source that's consistent.
Want to be amongst the 1% of forex traders who grow their trading account like wild mushrooms.
Want to break out from the boring and frustrating routine of hard work and no money (but frequently a lot of debt!)
Want to Start making money today, not 2 months from now!

A Profitable Forex Trading Tool you Need to be Successful in the Forex Today ..Watch LIVE trading Now...CLICK HERE

Other sites worth checking ourt
Feb092009-23:19
Forex Automated FAP Turbo Robot - Review
Automated FAP Turbo Robot Review
A Quick Glance at the FAP Turbo


automatedfapturborobot45

About the Author

Eduardo Hoover writes regularly about finance related topics. I hope you enjoy this article.

Article Source : http://www.goarticles.com

Automated Forex Trading Systems - Tips on How to Find the Best

he vast majority of Forex robots lose money and only a small minority win. If you are looking to buy an automated Forex trading system, simply follow the tips enclosed...

Forex system trading has got a bad reputation in recent years with the rise of the get rich quick Forex Expert Advisors which are sold for a hundred dollars or so and of course they don't work.

If you see a heavily advertised system, claiming it can predict the market, double your money each month with less than 1% drawdown, pass it by or you will lose money. These systems are put together by marketing companies, with made up track records and claims which are obviously too good to be true.

So how do you find a good Automated Forex trading system?

The best automated Forex trading systems make around 50 - 100% per annum. When you find one look for an independent audit of gains and don't take the vendors word for it - always get verification from an outside source.

Next you need to check the drawdown and typically, an automated trading system will drawdown 20 - 50% depending on its risk profile. Make sure you are prepared for this.

You need to trade the system through losing periods with discipline and to do this, you need to have an understanding of the logic and agree with it. This will give you the confidence to trade with discipline.

Long term Gains in 30 Minutes a Day

Automated Forex system trading is long term and you need to ride out short term drawdown.

Judge your system over years not months, trade with confidence and discipline and you could soon be making big profits in 30 minutes a day or less.

About the Author

FREE ESSENTIAL FOREX TRADING PDF's! + FREE PROVEN FOREX ROBOT!

For 2 essential free trading Pdf's and for more on a successful FREE Currency Trading System and an exclusive RISK FREE Forex Trading Course visit our website.

Article Source : http://www.goarticles.com

Technical Indicators Forex Trading

Technical Indicators In Forex Trading - Understanding Their Limitations

Have you ever wondered what exactly is up with Forex, Technical, Indicators? This informative report can give you an insight into everything you've ever wanted to know about Forex, Technical, Indicators.

Forex traders often look at indicators such as Bollinger Bands, Pivot Points, MACD, Moving Averages and the such to help them determine where to enter or exit trades. Using technical indicators is fine, however many traders overemphasize their importance or just plain misunderstand them.

Many forex traders think that they can simply download an indicator and then mechanically apply it into their trading and do so profitably. This is just a plain illusion. Successful traders realize that there is a lot more to using indicators than just asking them to generate buy/sell signals or pin-point exact entry points. Technical indicators for them represent just one part of their trading strategy.

Let¡¯s take a look at some of the reasons why you should not put all your faith into those sometimes confusing little indicators.

Take Moving Averages (MA¡¯s) for example. They are "supposed" to show the direction of the trend. The most common and often used are the simple 200day MA, 100day MA, 50day MA, 35day MA and the 21day MA but they are only valid on daily graphs. Some forex day traders say that a good signal is when the 50day MA is crossed by the 13day MA and that when this occurs you should trade in the direction of the cross.

You may not consider everything you just read to be crucial information about Forex, Technical, Indicators. But don't be surprised if you find yourself recalling and using this very information in the next few days.

The problem with this (apart from the fact that it only works on daily graphs) is that these types of ¡°crosses¡± do not occur often enough for traders to exploit them. This can often lead to a situation where traders are seeing what they thought was a cross now reverse and uncross. Even worse, it can lead to a situation where day traders are "chasing" and trying to anticipate a cross. If you are doing this, you are distancing yourself from the market which you are trying to trade. Not only are you trying to guess what the price is going to do next but you are guessing what the indicator, based on the prices, is going to do next.

Other problems with technical indicators involve issues with the quotes and prices given to you by your broker. Forex brokers are market makers and as such different brokers will give you different quotes and prices at a specific point in time. Naturally, a different price could lead to a situation where different traders, trading the same market have the same indicators giving them different responses. That¡¯s how arbitrary technical indicators can be.

Finally, a lot of these technical indicators were developed by people trading the stock market. With the growth of computers and software packages that incorporate these indicators, technical analysis has become very popular and spread to other markets such as the forex market. What currency traders should be aware of however, is that as these indicators were developed in a time where real time information did not exist. As such, the limitations of technical analysis becomes even more exaggerated in forex trading ¨C not only is technical analysis an interpretation of historical events but it becomes even more so in the forex market, a market moved by real time events.

Conclusion:

Successful forex traders understand the limitations of technical indicators and realize that technical analysis should incorporate just one part of their trading strategy. In a recent international Forex market event visited by the major banks and institutions - the main players that influence the foreign currency market ¨C a survey was done to better understand what analysis they use. The results might be surprising to some tarders. The survey showed that a mere 26% use technical analysis and indicators compared to 41% who said they use fundamental analysis.

So now you know a little bit about Forex, Technical, Indicators. Even if you don't know everything, you've done something worthwhile: you've expanded your knowledge.

Forex Trading Systems - Robots or Rubbish!

Today the Forex Market has become very saturated and confusing with all the choises and options, both online and offline to begin your research on trading and making money. Where do you start, and unless you have several free hours I couldn't list all of them here.

In the market place today we can find seminars, articles, workshops, video tutorials, and books on the topic of how to make money currency trading. Everything from honest forex trading ideas, forex reports to Forex Scams. So if we are new to the market how do we not get ripped off?

If you decide to go with a broker, it's wise to consider all the various brokers' systems available to you before making your choice. If you are looking for the best Forex Broker have a look at the CFD FX Report they have recently reviewed all the forex brokers in the market and come with who they believe to be the best you can view here The CFD FX REPORT

A well designed trading system will reduce your work dramatically. This in turn gives you time to focus on studying the market and plotting your strategy.

If you're like me however, there never seems to be enough time in the day between my family obligations and work to put in the serious study it takes to master the Forex market.

It is a pretty steep learning curve, and it can be pretty daunting at first for someone just learning how to trade.

There is one more way to make money currency trading. It's probably the best bet for beginners and those of us who are pressed for time. The process is an auto-trading system, generally called a Forex Robot.

There are many of these Forex Robots out there, but they aren't all created equal. Many of these so called automated systems are nothing more than scams.

In other words, all Forex Robots are not created equal.

I recently had a friend call me who had been trading on the currency market for some time, and was making some pretty good money trading Forex the traditional way. He excitedly told me that he had recently found a Forex Robot that was recommended by a fellow trader.

He went on to tell me that although he was skeptical of these automated Forex Robot systems, and believed like I did that most of them were scams, he decided to give it a try. The results were nothing short of phenomenal.

However you need to find a product that you feel comfortable with.Feel free to visit the The CFD FX REPORT as they may some some good systems to look at.

Before you invest in any of theses products however, make sure you find out what the risk/reward profile is with the trading software you are looking at.

As an example, some of these software products come with risk/reward ratios of 2:1, while some even have a risk/reward ratio as high as 35:1.These ratios are not acceptable, and you need to look elsewhere, otherwise you'll lose all your trading funds pretty quickly.

Any automated trading software that comes with more than a 1:1 risk should be avoided like the plague.

I want to emphasize that there are great Forex expert advisors and trading Robots that can make you good money, but you need to know how to recognize them, I have suggested a couple of places to start your search, but please do your own research.

It has been conclusively proven that automated products which adopt strict and professionally set guidelines and that will never allow you more than a 1:1 run, reduce the risk of destroying your trading account.

Did you know that there are average people out there making between 00.00 to 00.00 per month trading in the Forex market? How are they doing it? Find out how a powerful and "smart" Forex Robot is creating life-changing incomes for many people who have never traded the Currency market before.

Enjoy the Forex Market and all that it has to offer and have fun trading.

happy Trading
About the Author

The CFD FX REPORT is a real time trading tool that offers clients free trading reports, with trading ideas, stock market and forex market education as well helping them with. Also if you are looking for a Forex Broker, then feel free to visit our broker section as we recently reviewed all the forex brokers and have found the best on the market.

Currency Trading - 8 Rules to become a Forex Trading Millionaire

If you want to succeed in Forex, you need to experience what your doing and do it right. This is not like going up on a bike and starting to cycle. It's more like get in the driver's seat of a motorcar with an teacher at her side, help them understand the rules of the road while moving safely through the traffic. successful traders live by the 'road rules and avoid heading in the wrong way for access to the examples of the past, sometimes yes, sometimes more.

When you get a chance to go to a seminar where the success of Forex traders are talking about, jump on the opportunity to learn all the details on what led to their succeeder. Meanwhile, follow these guidelines to get the engine and mind into the busy road of exchange operations.

1. Advice. In That Respect are thousands of people who have gone before and not so much the succeeder or seen a amount of both. Read books, collect information, the formation of free trial. The more you know and understand about the foreign exchange, the better their potential for success.

2. Not enticed to trade more than they can afford. Forex is dangerous and even the most seen brokers and traders may have unforeseen losses. The main trouble is not going beyond their means and then risk turning a loss the money needed for life, either now or in the future.

3. It is not used outsmart the market. Interpreting and forecasting of trends in the movement is something that even the professionals and had to spend years, if not decades, fathoming. Always sell to markets that are not performing and which are signs of weakness. Trying to be intuitive and make rash predictions only lose money.

4. I understand that in world is just a game. It may seem like a wrong comment, but it is necessary to obtain results that are not too serious. Considering that the next one million dollars because the man has only one triumph, and feelings can lead to more skills that you become the next Pedro Pinch cent. Have the high and low trying to avoid.

5. Draft victory away. Whatever happens in the short term must be good for the long term. Low may help you understand where it has failed, while high can help you determine what to duplicate next season. Trading in the Forex Market, you will see a multitude of changes in the market on a daily basis. What really matters is the long-term results. You must keep Chipping away from them and reinvesting its "champion" toward greater succeeder.

6. Ending loss positions. Not continually throw money into a hard trade is expected to improve. Probably not. experience out while you can. Are you sure you lose money, but the loss of "some" is better than losing everything.

7. Be controlled. When you finish your homework, stick to your system. Do not try to outdo yourself for being cocky and throwing more money into the market and just watch closely.

8. Keep a cool brain during services. Before making a transaction, you use and the assessment to decide what to do.

When trading begins, it may be attractive to include the flow of adrenaline and do more than what was planned. Stick to the plan and avoid trying to do under pressure. If you participate in exchange operations and see that it is not for you, but persevere is keep awake at night. Market volatility in foreign exchange trading can be so intense that it could send a dizzying. Note that There are other forms of trade that is not so involving her immediate attention.

Now that you have the rules you will need to find a great broker so feel free to contact us for the CFD FX REPORT or email us at support@cfdfxreport.com
About the Author

The CFD FX REPORT is the Report that Traders need. With Forex Trading Ideas, education, real time sms elerts and latest froex news or forex if your looking for a Forex Broker visit us as we recently researched the brokers. What Traders use.I highly recommend visiting here for more info about forex singapore

CFD Trading 95% Lose - How To Win

Everybody starts out in CFD Trading wanting to make money but a whopping 95% of Traders lose, which leaves 5% winners. So what is it that the 5% of CFD Traders are doing to make them win in CFD Trading. What are the mistakes that the 95% of people are making, and how can you avoid them!

One of the major reasons that so many people lose when it comes to CFD trading is that they believe they have a sure fire winning CFD trading system or CFD robot that is going to make them rich. The first thing to take from this is that making money from CFD Trading is not easy, and it does take some skill.

Think about this for minute if it was so easy to win, everybody would be CFD Trading and if a Robot was so successful would you in fact sell that robot? Probably not! More often than not people that develop these CFD Robots sell them and this is how they generate their income and not from CFD FX REPORT. So be very careful when it comes to buying a CFD Robot especially off the back of all the claims they make.


The second group just don't understand the unique skills you need to win and they have the following misconceptions:

If they work hard they will win but effort counts for nothing in CFD trading, just being right does and this means you have to work smart - not hard.

Some people believe that they need to have a highly complicated trading system to be successful, however the opposite is more likely, the less complicated the better.

Another portion of this group, believes the myths that can be found all on internet which include:

- Scalping and day trading is a way to make massive money

- You can predict CFD markets in advance

- Buy low sell high is a great way to make money

- CFD markets move to science and a mathematical theory

There are many more and the above are just a few myths.

This group wants to put in effort but they do so in the wrong areas and lose, because they simply get the wrong CFD education.

How to be successful

To learn to trade CFD is easy anyone can learn a logical robust system that can make gains but that is not all you need for success - you need the right mindset to apply it and this means trading with discipline. It is not just matter following these systems.

Discipline is the key to success and you have to understand that you will have losing streaks, so you must stick to your rules and trading plans.

Discipline comes from the right CFD education and having confidence in your trading plan. For further educational information feel free to visit the CFD FX REPORT, as they have a lot of educational information and can help you find the best CFD Broker.

To be a successful CFD Trader you don't have to just work hard, work smarter, use simple systems and have discipline.
About the Author

The CFD FX REPORT is a real time trading tool that offers clients free trading reports, with trading ideas, stock market and forex market education as well helping them with. Also if you are looking for a Forex Broker, then feel free to visit our broker section as we recently reviewed all the forex brokers and have found the best on the market