The Number One Reason that Most People Fail in the Forex Market

By: angelheld
95% percent of Forex Traders lose their shirts. What is it that successful traders have that the rest don't?

They have a system.

Unsuccessful traders trade with their emotions. Successful traders have a system and stick with it.

1) So your first step is to choose a system.

2) Your next step is to decide how much money you can risk in your portfolio.

3) You then need to decide what percentage of your portfolio you are willing to risk per trade.

4) Then you need to look at the pairs of currencies that you are trading and determine the historical correlation for success. Some currencies naturally trade parallel to each other.

5) Then you need to decide your buys and stop losses, ahead of time. This is one of the most important steps. Know when to pull the trigger before you have to and set it up to happen automatically.

Trading via the Forex trading system is not an easy task. The knowledge required to trade efficiently may take years to obtain. It is essentially a practice makes perfect situation. To avoid potential loss, you must do one of two things: hire a trading professional to handle trading for you, or spend thousands of dollars and possibly years learning the market yourself. Studies have shown that when new investors attempt to trade in the Forex market by themselves, there is about a 95% chance of failure.

We have tested several Forex systems online and have stumbled across one that seems to be the easiest for beginners and advanced trader - the FreedomRocks online trading system. FreedomRocks is a fully automated online trading system that actually does most of the work for you. The trading system works on statistics and numbers rather then human emotion, which is the most common reason why new investors fail. Of course the ultimate decision of how much of your portfolio to risk and whether you want to get into a trade is your decision. With all the other work done for you, all you have to do is buy and sell when the program tells you too. It is truly the easiest way to make money online.

Remember emotion can be the death of your forex trading. Choose a system that takes as much of the emotional component out of your trading, as possible. Go for small gains, instead of waiting for that "big score." Consistant small gains can make you wealthy.

Have patience and stick to your system.
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