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Forex-trading---mindset-of-the-millionaire-forex-pro-s
By kelly price
Forex trading can be learned by anyone yet few succeed so what separates winners from losers? While a method is important, so to is the right mindset and here we will look at 3 character traits all the top traders have.
1. Success Comes From Within
Top traders do their homework and devise a trading logic and forex trading strategy they know backwards in terms of how and why it works and why it will be successful.
Contrast this with the amount of losing traders who buy an e-book from a vendor and then blame them, when the few hundred bucks they spent, didn’t make them rich! – what did they expect?
Other traders blame anyone they can - from the market, to their broker and squeal like babies when they lose – They are forgetting that they are responsible for their destiny, no one else.
Winners accept this and rely on themselves and so must you.
2. Confidence
If you have done your homework you will have confidence in your forex trading strategy and confidence is essential, as you have to follow your method through losing periods and know in your own mind, that you can emerge from periods of losses and emerge a winner longer term.
All successful forex pro’s have this trait and you need it to, as it leads onto a trait that is absolutely vital to forex trading success:
3. Discipline
This trait is needed to execute a method rigidly and not deviate from it.
Keep in mind if you can’t follow your method with discipline, you don’t have one in the first place.
If you think it is easy, think again – it’s tough even for seasoned pros.
Many
Forex Flash: EUR/USD may rally to 1.3500 on Greek debt deal - BNP Paribas
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<a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=a9d13009-a4ba-499f-9fff-c4e5f7c17bec" style="font-size:1.2em">Forex Flash: EUR/USD may rally to 1.3500 on Greek debt deal - BNP Paribas</a>
<br> <span style="color:#888888;">FXstreet.com</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">FXstreet.com (Barcelona) - The Euro has largely priced in an almost done agreement on an aid package for Greece, says Rob Ryan, G10 currency strategist at BNP Paribas.</div>
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EUR/USD: Trading The European Central Bank Interest Rate Decision
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<a href="http://www.thestreet.com/story/11409181/1/eurusd-trading-the-european-central-bank-interest-rate-decision.html" style="font-size:1.2em">EUR/USD: Trading The European Central Bank Interest Rate Decision</a>
<br> <span style="color:#888888;">TheStreet.com</span> - <span style="white-space:nowrap">5 hours ago </span>
<div style="width:80%;">By DailyFX 02/08/12 - 04:10 PM EST By David Song, Currency AnalystMichael Boutros, Currency Strategist Although the European Central Bank is widely expected to keep the benchmark interest rate at 1.00%, the policy statement accompanying the rate ...</div>
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Fed to Devalue Dollar by 33%?
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<a href="http://wallstreetpit.com/89368-fed-to-devalue-dollar-by-33" style="font-size:1.2em">Fed to Devalue Dollar by 33%?</a>
<br> <span style="color:#888888;">Wall Street Pit</span> - <span style="white-space:nowrap">6 hours ago </span>
<div style="width:80%;">By Chuck Butler Feb 8, 2012, 3:14 PM Author's Website The currencies began to get some wind in their sails yesterday midmorning, and soon an all-out rally was taking place.</div>
<a href="http://www.thestreet.com/story/11409120/1/euro-complacent-after-european-troika-releases-draft.html">Euro Complacent After European Troika Releases Draft</a> - <span style="color:#888888">TheStreet.com</span><br>
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Dollar Stuck At 2-Month Lows Despite No Resolution For Greece
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<a href="http://www.nasdaq.com/article/dollar-stuck-at-2-month-lows-despite-no-resolution-for-greece-20120208-01341" style="font-size:1.2em">Dollar Stuck At 2-Month Lows Despite No Resolution For Greece</a>
<br> <span style="color:#888888;">NASDAQ</span> - <span style="white-space:nowrap">7 hours ago </span>
<div style="width:80%;">(RTTNews.com) - The dollar was generally weaker versus other major currencies on Wednesday, as Greece struggled to pass austerity measures that may trigger relief funds from its neighbors and the IMF.</div>
<a href="http://www.reuters.com/article/2012/02/07/greece-tbills-idUSL5E8D724720120207">Greece sells 812 mln euros of T-bills, yield eases</a> - <span style="color:#888888">Reuters</span><br>
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No EURO Freeze, Just A Squeeze
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<a href="http://seekingalpha.com/article/350731-no-euro-freeze-just-a-squeeze" style="font-size:1.2em">No EURO Freeze, Just A Squeeze</a>
<br> <span style="color:#888888;">Seeking Alpha</span> - <span style="white-space:nowrap">8 hours ago </span>
<div style="width:80%;">By Dean Popplewell A Greek deal is almost here again, maybe tomorrow or Friday or next week. It's like dealing with an adolescent teen and their irreverent actions.</div>
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Banks' Addiction to ECB Cash May Stymie Bond Sales: Euro Credit
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<a href="http://www.businessweek.com/news/2012-02-08/banks-addiction-to-ecb-cash-may-stymie-bond-sales-euro-credit.html" style="font-size:1.2em">Banks' Addiction to ECB Cash May Stymie Bond Sales: Euro Credit</a>
<br> <span style="color:#888888;">BusinessWeek</span> - <span style="white-space:nowrap">9 hours ago </span>
<div style="width:80%;">By John Glover Feb. 8 (Bloomberg) -- The European Central Bank may be making it harder for the region's banks to revive bond sales by giving them access to unlimited cheap cash.</div>
<a href="http://www.bloomberg.com/news/2012-02-08/bank-addiction-to-ecb-cash-may-stymie-bond-sales.html">Banks' Addiction to Cheap ECB Financing May Stymie Bond Sales: Euro Credit</a> - <span style="color:#888888">Bloomberg</span><br>
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The euro question has been answered
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<a href="http://www.moneyweek.com/online-trading/spread-betting/sb-blog/spread-betting-The-euro-question-has-been-answered-20600" style="font-size:1.2em">The euro question has been answered</a>
<br> <span style="color:#888888;">MoneyWeek (blog)</span> - <span style="white-space:nowrap">11 hours ago </span>
<div style="width:80%;">First, I don't know whether you saw it, but there was a dramatic move in the EUR/USD yesterday. We'll look at the charts in a moment.</div>
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Wednesday Worries: Yentervention, Euro Style
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<a href="http://seekingalpha.com/article/350111-wednesday-worries-yentervention-euro-style" style="font-size:1.2em">Wednesday Worries: Yentervention, Euro Style</a>
<br> <span style="color:#888888;">Seeking Alpha</span> - <span style="white-space:nowrap">11 hours ago </span>
<div style="width:80%;">The yen finally got back to 77 and EUR/CHF back to 1.21 so my theory that the BOJ has given up on the dollar and moved to boosting the euro is playing out nicely.</div>
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Euro Rally At Risk, Sterling To Falter On More QE
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<a href="http://www.thestreet.com/story/11408158/1/euro-rally-at-risk-sterling-to-falter-on-more-qe.html" style="font-size:1.2em">Euro Rally At Risk, Sterling To Falter On More QE</a>
<br> <span style="color:#888888;">TheStreet.com</span> - <span style="white-space:nowrap">12 hours ago </span>
<div style="width:80%;">By DailyFX 02/08/12 - 09:35 AM EST By David Song, Currency Analyst The Euro climbed to an overnight high of 1.3287 as European policy makers prepare to release the EUR 130B rescue package for Greece, and the single currency may appreciate further ...</div>
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CFR uses EUR 500 mln for railway modernization
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<a href="http://business-review.ro/news/cfr-uses-eur-500-mln-for-railway-modernization/13316/" style="font-size:1.2em">CFR uses EUR 500 mln for railway modernization</a>
<br> <span style="color:#888888;">Business Review</span> - <span style="white-space:nowrap">12 hours ago </span>
<div style="width:80%;">National railway operator CFR will modernize the railway infrastructure using nonreimbursable funds from the EU totaling EUR 479 million.</div>
<a href="http://www.romania-insider.com/romania-revamps-railways-and-train-stations-with-eur-500-mln/48388/">Romania revamps railways and train stations with EUR 500 mln</a> - <span style="color:#888888">Romania-Insider.com</span><br>
<a href="http://www.thediplomat.ro/articol.php?id=2565">CFR has signed contracts worth EUR 479 million for modernization of railway <b>...</b></a> - <span style="color:#888888">The Diplomat Bucharest</span><br>
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traders have great methods but fail due to lack of discipline.
Confronting the Beast
Trading forex is hard as only you can be wrong (it’s always right) it will make you look stupid (it does this to all traders) and it moves where and when it wants and there is nothing you can do about it!
However you can win you just need to obey its rules.
You are like a ships captain on the ocean. You need to obey its law and understand everything about it to travel on it safely.
For this you need to have knowledge, confidence in your ability and the discipline, to plot the right course – If you can do this - just like the ocean has unlimited riches so does the forex market.
If you respect it and confront it with the right mindset you can win if you don’t you will drown – it’s as simple as that. Article Source: http://www.upublish.info About the Author:
kelly price
GRAB 3 X FREE TRADER PDF'S NEWSLETTERS AND MUCH MORE! On all aspects of becoming a profitable trader including features, downloads and some critical FREE Trader PDF's and more FREE Forex Education visit our website at http://www.net-planet.org/index.html Ready to copy Article in either text or html format:
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Canadian dollar ends little changed; traders watch Greek talks
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<a href="http://ca.reuters.com/article/businessNews/idCATRE81728R20120208" style="font-size:1.2em">Canadian dollar ends little changed; traders watch Greek talks</a>
<br> <span style="color:#888888;">Reuters Canada</span> - <span style="white-space:nowrap">5 hours ago </span>
<div style="width:80%;">By Andrea Hopkins TORONTO (Reuters) - Canada's dollar ended little changed against its US counterpart on Wednesday with the currency stuck in a tight trading range as investors awaited resolution on a second Greek bailout and central bank meetings on ...</div>
<a href="http://www.euro-exchangerate.com/canadian-dollar-cad-08021365.html">Exchange Rate Partner Services</a> - <span style="color:#888888">Euro Exchange Rate News</span><br>
<a href="http://www.reuters.com/article/2012/02/08/markets-canada-dollar-bonds-idUSL2E8D8ENS20120208">CANADA FX DEBT-C$ ends little changed; traders watch Greek talks</a> - <span style="color:#888888">Reuters</span><br>
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Loonie Mixed After Canada's January Housing Starts Fell Less Than Expected
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<a href="http://www.thestreet.com/story/11408163/1/loonie-mixed-after-canadarsquos-january-housing-starts-fell-less-than-expected.html" style="font-size:1.2em">Loonie Mixed After Canada's January Housing Starts Fell Less Than Expected</a>
<br> <span style="color:#888888;">TheStreet.com</span> - <span style="white-space:nowrap">12 hours ago </span>
<div style="width:80%;">By DailyFX 02/08/12 - 09:32 AM EST By Trang Nguyen, Canadian housing starts unexpectedly retreated in the first month of 2012 as a result of considerable decline in urban single units and slowdown in multiples.</div>
<a href="http://www.forexpros.com/news/economic-indicators/canadian-housing-starts-fall-less-than-expected-230070">Canadian housing starts fall less-than-expected</a> - <span style="color:#888888">Forex Pros</span><br>
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British Pound Sterling: Currency set to Outperform EUR in 2012 suggest BarCap <b>...</b>
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<a href="http://www.euro-exchangerate.com/british-pound-vs-eur-currency-latest-08021364.html" style="font-size:1.2em">British Pound Sterling: Currency set to Outperform EUR in 2012 suggest BarCap <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">14 hours ago </span>
<div style="width:80%;">Three factors matter for EUR/GBP: the risk from Greece; the UK's relative economic performance; and valuation. Looking at today's spot exchange rates, British Pound Sterling (GBP) in Euro (EUR): GBP/EUR is 0.17% lower at 1.1966.</div>
<a href="http://www.forexpros.com/news/forex-news/forex---usd-cad-in-tight-range-as-markets-await-greece-news-230073">Forex - USD/CAD in tight range as markets await Greece news</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.bestsyndication.com/?q=20120107_forex_signals_trading_gold_silver_oil_prices.htm">Gold and Silver Prices Advance ? USD Up vs JPY but Down vs EUR ? Crude Oil Higher</a> - <span style="color:#888888">Best Syndication</span><br>
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Canadian Dollar (CAD) Technical Major Currencies (2012-02-08)
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<a href="http://www.ibtimes.com/articles/294887/20120208/canadian-dollar-cad-technical-major-currencies-2012-02-08.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-08)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">19 hours ago </span>
<div style="width:80%;">Trading has been very slow lately, moving within tight ranges however with a downside bias within the short term down trend. The main short term descending channel continues to confine trading and price is approaching the latest low at 0.9928, ...</div>
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Forex - USD/CAD erases gains on Greece deal speculation
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<a href="http://www.forexpros.com/news/forex-news/forex---usd-cad-erases-gains-on-greece-deal-speculation-230025" style="font-size:1.2em">Forex - USD/CAD erases gains on Greece deal speculation</a>
<br> <span style="color:#888888;">Forex Pros</span> - <span style="white-space:nowrap">Feb 7, 2012 </span>
<div style="width:80%;">By Forexpros | Forex News | Feb 07, 2012 02:36PM GMT Forexpros - The US dollar erased gains against its Canadian counterpart on Tuesday, as market sentiment was boosted by speculation that Greek officials were working on the final draft of an agreement ...</div>
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Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)
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<a href="http://www.ibtimes.com/articles/294134/20120207/canadian-dollar-cad-technical-major-currencies-2012-02-07.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 7, 2012 </span>
<div style="width:80%;">The pair has been fluctuating with narrow ranges recently, within the descending short term channel shown on image, while MACD indicator continues to provide a bullish divergence over the four-hour timeframe, and momentum indicators are within oversold ...</div>
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Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b>
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<a href="http://www.euro-exchangerate.com/canadian-dollar-cad-06021354.html" style="font-size:1.2em">Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 6, 2012 </span>
<div style="width:80%;">The US dollar to Canadian dollar exchange rate (USD/CAD) is 0.54% higher at 0.9987. The euro Canadian dollar exchange rate (EUR/CAD) is 0.39% lower at 1.3018, the pound Canadian dollar exchange rate (GBP/CAD) is 0.22% higher at 1.5746.</div>
<a href="http://www.torfx.com/blog/the-gbp-cad-exchange-rate-showed-signs-of-a-revival-over-the-past-seven-days/11539/">Pound to Canadian Dollar Exchange Rate Forecast ? The GBP CAD exchange rate <b>...</b></a> - <span style="color:#888888">TorFX Foreign Currency Exchange (blog)</span><br>
<a href="http://www.dailyforex.com/forex-articles/2012/02/USDCAD-Daily-Outlook-Feb-7-2012/10802">USD/CAD Daily Outlook Feb. 7, 2012</a> - <span style="color:#888888">DailyForex.com</span><br>
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Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b>
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<a href="http://www.euro-exchangerate.com/canadian-dollar-exchange-rate-non-farm-03021348.html" style="font-size:1.2em">Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">Canadian dollar exchange rate: Global markets have been caught by surprise following the release of strong US Non-Farm Payroll data.</div>
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Canadian Dollar (CAD) Technical Major Currencies (2012-02-03)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/292363/20120203/canadian-dollar-cad-technical-major-currencies-2012-02-03.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-03)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 3, 2012 </span>
<div style="width:80%;">The pair has been trading within a narrow range above the 200-days SMA; the pair is having difficulties breaching this support area around the average as see on chart, while price is clearly oversold as seen on Stochastic.</div>
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Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b>
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<a href="http://www.euro-exchangerate.com/canadian-dollar-exchange-rate-02021342.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The CAD was not a participant in the overnight push up in risk currencies, with USD/CAD remaining well-entrenched in familiar ranges.</div>
<a href="http://www.forexpros.com/news/forex-news/forex---usd-cad-up-on-jobs-data-229907">Forex - USD/CAD up on jobs data</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.actionforex.com/index.php?option=com_content&view=article&id=158866:mixed-reactions-in-the-us-dollar-to-the-non-farm-payroll&catid=191:daily-forex-technicals">Mixed Reactions in the US Dollar to the Non-Farm Payroll</a> - <span style="color:#888888">Action Forex</span><br>
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the international exchange market, the market for conversion exchange operations of specified amounts of one country’s currency into the ...
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