Forex Trading Strategies, To Beat The Odds
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Forex Trading Strategies, to Beat the Odds

This short article about Forex trading strategies is focusing on the attitude of professional traders versus punters to employing strategies while trading the foreign exchange market.

Is applying the right trading strategies the key to success in the markets?

Generally speaking the inexperienced traders who literally flock to the Forex market in multitudes nowadays have high hopes and start trading to become profitable quickly only to discover defeat. Why do they fail? If they stopped for a moment just to ponder about this fact it would already make them a lot better at the game. But as the saying goes hope dies last.

These people are very motivated to succeed but the stubborn determination alone is very little to offer in this business. Anyone wishing to start a career in information technology for example must first get educated in the particular field of discipline within IT. Firstly there are hardware experts and then there are software experts...not the same thing. To fulfil the goal does require proper education...

Quite astonishingly these novice traders (and not only complete beginners fit in this category) try and try again often suffering considerable losses. To be honest seeing the potential for very easy and huge profits is tempting and trading can be addictive in some sense... However I need to stop this thought here as my subject matter is not trading psychology.

What`s the truth about strategies then? Do they make that much of a difference?

Seemingly that is exactly what these beginners are made to believe. They think that success depends on trading tools and systems so they try hard to get their hands on the next hot things on offer... huge business indeed.

To cut this article short...

Yes, professional traders use strategies but they also have the discipline to apply the strategies correctly. It all comes with experience and knowledge about the market they are trading. Strategies matter, they are the framework of a precise methodology of market engagement providing the trader with high probability set ups to execute trades. Knowing when to buy or sell is only half success... you can`t always get it right but how long you keep a position open or when you take profit (target level) are a lot more crucial issues... along with other ones I do not have the capacity to touch on in this article.

If you give a novice trader an amazing trading strategy which has been proven highly profitable by professionals they will most likely change the system and never apply the core principles... This is one reason why trading so easily deceives beginners into thinking they are invincible... The strategy would work but the person implementing it is not qualified or experienced.

A good and experienced driver can`t just sit in a 40 ton truck for the first time and happily drive through a busy town with no problem. I am trained both to drive lorries and also to trade the financial markets...believe me, it would be disastrous. There are a lot more things to consider that meets the eye. If you ever qualify to drive trucks you will know that it takes a long time before they give you a license...

To get a grasp so to say... in the trading industry you must trade alongside an experienced trader to find out their secrets.

By the way proven systems or methods that incorporate strategies and also the tools required are not easy to come by... Ones that are worth any money at all are sold by established trading companies or individual traders who can prove they are successful with their results.

Do not fall for crooks... anybody can claim all sorts of things.


Street Talk

Yes, you are right :) It would take some time and lots of effort to learn trading and that`s exactly why I made my website and write these articles. People waste a lot of their hard earned cash to try something with minimal effort and they are surprised they lose their money.

Reply
  about 8 years ago

And this is way I don't trade stocks, love the idea of making money from it but wouldn't know where to begin. I am also not a gambling man, if there isn't at least a 60-40 ratio I'm out. Knowing what I'm doing before putting my money up is always a must for me.

Reply
  about 8 years ago

I agree with you Attila, That's like every job. You need to work alongside your teacher to learn the skills that he has learned from his master. But I've found people very greedy and not everyone wants to pass on the knowledge, and all the little trade secrets. It's as if they don't want their apprentice to do better than them. If you lucky you will get someone that is willing to show you everything, but they are one in a million.

Reply
  about 8 years ago

Good article, I guess what you're saying is learn the ropes before you jump in the deep end. Something that applies to any money making opportunity.

Reply
  about 8 years ago
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