Get Rich Quick Trading Forex - How to Do It In Simple Steps
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Isabella Fox
Apr 30, 2010, 3:41:27 PM4/30/10
to shares forex and the mar5kets
Many people want to get rich trading forex and there is no doubt it
offers the potential to do so but most fail. So is it possible to get
rich trading forex? Absolutely - but you need to keep the following in
mind before you try it.
When you read a lot of the material about forex trading writers almost
consider profits as an after thought and stress the risk above all
else. Well of course forex trading is risky we know that already but
with risk goes reward.
Risk also equals opportunity.
Your aim is to take calculated risks at the right time and profit from
them.
Anyone can learn trading and anyone can get rich but the facts state
95% of traders lose money quickly.
In 1983 trading legend Richard Dennis set out to prove anyone could
learn to trade and be successful even if they had no experience - in
two weeks he taught a group of all ages, both sexes and of varying
degrees of intelligence, to trade and then gave them accounts.
The result?
They made Dennis $100 million and went on to become some of the most
successful traders of all time.
So how did they do it?
Dennis realized that anyone can learn a method - but you must also be
taught to understand why the method works, so you can trade it with
confidence and discipline.
A simple equation for this is:
Robust Simple Method + Applied With Discipline = Forex Success
If you want to get rich quick trading forex it's not just your method
you need to concentrate on it's also your mindset.
You are responsible and need to have confidence in what you're doing
and then have the courage and conviction to take risks at the right
time.
Here are some simple points to keep in mind when constructing any
trading plan.
1. Get a simple robust forex trading method you can have confidence in
Forget complicated methods simple systems work best as there are fewer
elements. to break.
2. Trade lightly
Focus on long term trends the big ones that yield the big gains. These
only come around a few times at month at best but profits have nothing
to do with the amount of times you trade. You don't get paid for
effort in forex trading you get paid for being right.
3. Trade breakouts
Don't bother trying to "buy low or sell high" buy breakouts from new
highs or lows it's a fact that the majority of big trends start from
market highs NOT market lows.
4. Hit Them Hard
If you see a big opportunity hit it hard and that means risking 10 -
20% of your equity. Forget about the myth that you should only risk 2%
if you have a $10,000 account that's just 200 bucks and you won't make
much on that. There is nothing wrong with taking calculated risks - if
you want to get rich in forex trading it's a must.
5. Don't bank early
Accept that you are going to have to take dips in open equity to catch
a big profit.
This means having the discipline to hold and have the courage of your
conviction.
Forex trading is essentially simple, anyone can learn the basics - the
hard part is knowing when to take calculated risks.
Forex trading is as much mindset as method. You will only make money,
if you have courage, conviction, mental discipline and an ability to
be cool under pressure.
You can't buy success from anyone else, it's all on your shoulders and
how successful you will be, will depend on how you apply yourself and
how you deal with risk.
The fact is anyone can get rich in forex trading - but few have the
mindset to stand alone and have the guts to take calculated risks and
hold long term trends.
If you have the desire to make money, your halfway there - as you're
likely to work in the right way, to make forex trading work for you.
Forex markets don't defeat you can only defeat yourself.
The opportunity is there but it's up to you to make the opportunity
work for you.
Doubling Your Money Every Single Month...: http://fapturbo.key.to/
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offers the potential to do so but most fail. So is it possible to get
rich trading forex? Absolutely - but you need to keep the following in
mind before you try it.
When you read a lot of the material about forex trading writers almost
consider profits as an after thought and stress the risk above all
else. Well of course forex trading is risky we know that already but
with risk goes reward.
Risk also equals opportunity.
Your aim is to take calculated risks at the right time and profit from
them.
Anyone can learn trading and anyone can get rich but the facts state
95% of traders lose money quickly.
In 1983 trading legend Richard Dennis set out to prove anyone could
learn to trade and be successful even if they had no experience - in
two weeks he taught a group of all ages, both sexes and of varying
degrees of intelligence, to trade and then gave them accounts.
The result?
They made Dennis $100 million and went on to become some of the most
successful traders of all time.
So how did they do it?
Dennis realized that anyone can learn a method - but you must also be
taught to understand why the method works, so you can trade it with
confidence and discipline.
A simple equation for this is:
Robust Simple Method + Applied With Discipline = Forex Success
If you want to get rich quick trading forex it's not just your method
you need to concentrate on it's also your mindset.
You are responsible and need to have confidence in what you're doing
and then have the courage and conviction to take risks at the right
time.
Here are some simple points to keep in mind when constructing any
trading plan.
1. Get a simple robust forex trading method you can have confidence in
Forget complicated methods simple systems work best as there are fewer
elements. to break.
2. Trade lightly
Focus on long term trends the big ones that yield the big gains. These
only come around a few times at month at best but profits have nothing
to do with the amount of times you trade. You don't get paid for
effort in forex trading you get paid for being right.
3. Trade breakouts
Don't bother trying to "buy low or sell high" buy breakouts from new
highs or lows it's a fact that the majority of big trends start from
market highs NOT market lows.
4. Hit Them Hard
If you see a big opportunity hit it hard and that means risking 10 -
20% of your equity. Forget about the myth that you should only risk 2%
if you have a $10,000 account that's just 200 bucks and you won't make
much on that. There is nothing wrong with taking calculated risks - if
you want to get rich in forex trading it's a must.
5. Don't bank early
Accept that you are going to have to take dips in open equity to catch
a big profit.
This means having the discipline to hold and have the courage of your
conviction.
Forex trading is essentially simple, anyone can learn the basics - the
hard part is knowing when to take calculated risks.
Forex trading is as much mindset as method. You will only make money,
if you have courage, conviction, mental discipline and an ability to
be cool under pressure.
You can't buy success from anyone else, it's all on your shoulders and
how successful you will be, will depend on how you apply yourself and
how you deal with risk.
The fact is anyone can get rich in forex trading - but few have the
mindset to stand alone and have the guts to take calculated risks and
hold long term trends.
If you have the desire to make money, your halfway there - as you're
likely to work in the right way, to make forex trading work for you.
Forex markets don't defeat you can only defeat yourself.
The opportunity is there but it's up to you to make the opportunity
work for you.
Doubling Your Money Every Single Month...: http://fapturbo.key.to/
--
You received this message because you are subscribed to the Google Groups "shares forex and the mar5kets" group.
To post to this group, send email to shares-forex-a...@googlegroups.com.
To unsubscribe from this group, send email to shares-forex-and-the...@googlegroups.com.
For more options, visit this group at http://groups.google.com/group/shares-forex-and-the-mar5kets?hl=en.
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