ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
10.10.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Forex Trading – a Valuable Character Trait in Life But in Forex Trading it Will Ensure you Lose!

Author: Monica Hendrix Author Ranking Gold | Posted: 01-08-2007 | Comments: 0 | Views: 10 | Rating:  (50) Article Popularity - Green (?) Got a Question? Ask.
Sign Up Now!

The character trait we are referring to will make you lose, yet it is one we all admire in all other aspects of life - so what is it?

The trait is being too clever.

This may sound odd, but working in a brokerage for 10 years and seeing thousands of clients, every time a trader tries to apply to much effort or be to clever they lose because:

Simple systems are best and the real key is the discipline to execute the method – not its complexity.

People who think their clever, try and build systems that are to complicated and they also have an ego - they refuse to accept their wrong and both these traits wipe them out.

Let’s look at this in more detail.

1. Keep it simple!

Today with all the advances in news, communications and software – the ratio of winners to losers remains the same as it was 50 years ago, so the appliance of knowledge for knowledge sake doesn’t help.

The fact is a simple system, is more robust than a complicated one and has fewer elements to break and is likely to be more successful.

2. An ego

Clever people often have an ego and think they deserve to win - because their smart.

This means they hate being wrong and their trading signals being made to look stupid by the market.

Problem is this happens to all traders, even the world’s best!

The market will make you and every trader look stupid and on a frequent basis.

What you have to do is accept it – the only right price is the market price.

It is always right no matter what you think, if you try and fight it, you will lose.

Don’t Fight!

The market moves the way it wants and is all powerful - try and fight it by refusing to take losses or over riding your system and the market will destroy your equity.

The Sensible Way

It’s a bit like being the captain of a ship – he knows the sea can smash his ship to bits, if he does not obey the rules - however if he is sensible and obeys its rules he can navigate his way safely and reach the shore intact.

You Decide!

Do you want to be clever or do you want to make money?

And do you:

Want to fight something all powerful or obey its rules?

The choice is yours and will determine whether you are a winner.

Work smart not hard, keep it simple and be humble and accept the truth the market presents to you win - you do this by obeying its laws and navigating correctly., it’s as simple as that.

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Source: http://www.articlesbase.com/currency-trading-articles/forex-trading-a-valuable-character-trait-in-life-but-in-forex-trading-it-will-ensure-you-lose-191946.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

NEW! 5 X Critical Trader PDF's & Much More

Claim your FREE PDF's and demo account and learn Forex Trading and also get: Breaking financial news, tight pip spreads, guaranteed stops $100.00 minimum investment and 400:1 leverage at http://www.freeforexguidesonline.com

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Forex free indicators,may I have your help??
By: tinu26 | 30-08-2008
Forex free indicators,may I have your help??

What are the best Forex Indicators and wher I can ...
By: tinu26 | 17-08-2008
What are the best Forex Indicators and wher I can find?? Thank you 

What is the technology and configuration ...
By: div | 31-07-2008
what is the technology and configuration requirements for installing FDR for CCIL connectivty?

Can a FOREX account be opened from a financal consultant working for a broker/dealer?
By: Ribs | 29-07-2008
I am a financial consultant working fo a broker/dealer. Can I open a FOREX account or as a financial consultant working for a broker/dealer I am barred from rules and regulations?

What is the strongest currency in the world?
By: buckeye | 16-06-2008
What is the strongest currency in the world?

GPS Software
By: tinu26 | 08-06-2008
Where I can find a good software for ""Web based GPS Management fleet"" ???

Q&A Powered by:
Powered by Yedda 

Latest Currency Trading Articles

Build Your Investments With Global Forex Trading
By: Rick Williamson | 10/10/2008
Global forex trading (forex, of course, meaning the foreign exchange market) has become more and more popular in the last few decades, mostly due to the advent of the global economy. Never before has our economy been so intertwined with every other country.

Forex Training - These Traders Learned Forex in 14 Days and Made Millions!
By: Kelly Price | 10/10/2008
Here we are going to look at forex training and a famous experiment when a group of traders with no experience were taught to trade in 14 days and then went onto make $100 million in profits. Let's see how they did it and what you can learn.

Forex Trading Tips - 4 Tips You Must Understand to Win at Forex
By: Kelly Price | 10/10/2008
Here are 4 Forex trading tips that if you understand them, can allow you to enter the elite 5% of winners who make big long term consistent profits. Anyone can learn currency trading and win but these 4 points need to understood - here they are...

Free Forex Trading System - the One Enclosed is Free But Does it Work?
By: Kelly Price | 10/10/2008
Yes it does and it's made countless millions, for savvy traders all over the world and beats most of the forex robots sold. In this article, we will show you how and why it works and why this free Forex trading, could bring you currency trading success.

Forex Trading to Success
By: Shawn Burgy | 10/10/2008
Forex Trading to Success: Learn the ins and outs of Forex Foreign Currency Trading. See the financial factors and how to use them to better trade in the Forex Market. Financial forecast's in the state's of the country's you are trading in have a big factor. Learn how to use these factors to your financial Forex Trading advantage.

Best Currency Trading System - Finding the Best for Profits
By: Sonia Kristina | 09/10/2008
Is there a single best currency trading system? The answer is no there are several, depending on your aims and risk tolerance. This article is all about finding the best ones and avoiding the bulk which lose money...

The Best Forex Education - Where to Find it
By: Sonia Kristina | 09/10/2008
The best forex education can mostly be found for free and here we will look at how to find the best and help you formulate a trading strategy for triple digit gains...

Trade Forex for a Living - Do You Have What it Takes to Succeed?
By: Samuel Leslie Berkovits | 09/10/2008
The fact is anyone has the potential to trade forex for a living not everyone will do what it takes to succeed. So what does it take to enter the group of traders who trade for a living? Let's find out...

More from Monica Hendrix

Erection Problems - to Get an Erection You Need Nitric Oxide Get More Naturally Now!
By: Monica Hendrix | 03/08/2008 | Men's Health
If you have erection problems then chances are you don't have enough nitric oxide and without enough of it you will never get an erection. The good news is you can it naturally without drugs.

Currency Trading Basics - the Best Currencies to Trade
By: Monica Hendrix | 03/08/2008 | Currency Trading
What are the best currencies to trade? Here we will answer this question and also look at a few over looked currencies and in particular one of the best for novice traders.

Forex Trading Education - How to Use Support and Resistance for Big Profits
By: Monica Hendrix | 03/08/2008 | Currency Trading
An essential element of your forex trading education is using valid support and resistance to time your trading signal. Here we are going to walk you through a live example of how to use it properly.

Make Money Fast - the Perfect Low Cost Way to Make Money Fast in 30 Minutes a Day!
By: Monica Hendrix | 03/08/2008 | Online Business
If you want to make money fast then you should consider the method enclosed, as it allows you to start with a small amount of money and use learned skills to make money fast in less than 30 minutes a day...

Starting an Online Business - This One is Easy and Builds Wealth Quickly
By: Monica Hendrix | 03/08/2008 | Wealth Building
If you are thinking of starting an online business, the one enclosed is a low cost business which requires no selling and is a great online business, anyone can use to build wealth quickly.

Learn Currency Trading - 3 Essential Character Traits You Need to Win
By: Monica Hendrix | 29/07/2008 | Currency Trading
Enclosed you will find 3 character traits that come together which will give you forex trading success. If you want to win and learn currency trading the right way, you need to have them so lets see what they are...

Forex Trading Knowledge - What I Learned Losing a Million Dollars
By: Monica Hendrix | 29/07/2008 | Currency Trading
Think you can't learn currency trading from someone who lost money? Think again this is the title of one of the best currency trading books of all time and any novice should read because it will show you why 95% of traders get scalped in the markets...

Forex Robots - Why Most are a Simple Route to Equity Wipe Out
By: Monica Hendrix | 29/07/2008 | Currency Trading
Forex robots seem like a great way to make money in the markets, there cheap, promise gains better than any fund manager I know and you need very little time and effort to use them. That's the story the reality is rather different and means a quick equity wipe out.

Article Categories

Forex Trading






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below