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Forex-trading---anyone-can-learn-the-skills-to-win--but-95-percent-of-traders-lose--why-
By kelly price
It's a fact anyone can learn the skills needed to win at forex trading - but they don't and the reason why is, they neglect the major factor they need to learn to achieve forex success. Understand this factor and how important it is and you can win.
This is a simple equation for forex market success:
Correct Knowledge = Understanding = Confidence = Discipline = Forex Success
What's obvious about the above?
That your forex trading system or the system you use is not important, providing it's logical and based on trading the odds - but your understanding, confidence and the way you apply it is. You can have a good forex trading strategy and fail here's why:
How do most forex traders learn to trade?
They day trade, or they trade mechanical systems sold by vendors, with simulated track records and we have two problems here that are the route cause of trader losses:
1. Day trading is not the correct knowledge to learn - it doesn't work!
It's based on ridiculous assumptions i.e. you can predict what millions of traders will do in a day!
2. If you use a mechanical system you cannot follow it unless you understand how and why it works (ok most the forex trading systems sold on the net are junk) but even if you do find a successful one, you still have to follow it with discipline through periods of losses. You won't follow it, if you don't understand it or have confidence in it!
Learning the correct forex knowledge and getting a robust forex strategy together is easy - the hard part is applying it. Understand this - success rests with you, not your broker, friends, vendors or anyone else - YOU.
Many forex traders hate taking responsibility and cry like babies when they lose, its everyone's fault but theirs - but it isn't.
If they lose it's their fault.
Successful forex trading involves you getting and applying the right knowledge and applying it is the hard part.
Gold Prices Dropped while Silver was Unchanged ? USD Up vs JPY but Down vs EUR <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.bestsyndication.com/?q=20120206_futures_forex_signals_gold_euro_dollar_yen.htm" style="font-size:1.2em">Gold Prices Dropped while Silver was Unchanged ? USD Up vs JPY but Down vs EUR <b>...</b></a>
<br> <span style="color:#888888;">Best Syndication</span> - <span style="white-space:nowrap">20 minutes ago </span>
<div style="width:80%;">(Best Syndication News) Brent crude oil advanced today as tensions between Iran and the United States continued to fester (see forex and commodities charts below).</div>
</div>
Lack of Greek Deal Sends EUR Tumbling
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexyard.com/en/market-analysis/lack_of_greek_deal_sends_eur_tumbling-2012-02-07" style="font-size:1.2em">Lack of Greek Deal Sends EUR Tumbling</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt.</div>
<a href="http://www.forexpros.com/news/forex-news/forex---euro-finds-support-on-greece-deal-hopes-230012">Forex - Euro finds support on Greece deal hopes</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.bestsyndication.com/?q=20120205_forex_signals_usd_jpy_eur.htm">Forex Trading and Currency Exchange Rates ? USD/JPY rises as EUR/USD drops</a> - <span style="color:#888888">Best Syndication</span><br>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)
<div style="padding:0px; margin-bottom:1.5em;">
<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">4 hours ago </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>
</div>
British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/british-pound-eur-safe-haven-06021355.html" style="font-size:1.2em">British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">21 hours ago </span>
<div style="width:80%;">The Pound continued its advance against the Euro this morning, but the UK currency declined for a second day versus the US Dollar, as market speculation escalates over the prospect of further quantitative easing from the Bank of England this week.</div>
</div>
Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<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">21 hours ago </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.forexpros.com/analysis/usd-cad:-canadian-dollar-down-on-greek-concerns,-weaker-oil-prices-113296">USD/CAD: Canadian Dollar Down on Greek Concerns, Weaker Oil Prices</a> - <span style="color:#888888">Forex Pros</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>
</div>
Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<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>
</div>
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>
</div>
Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<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>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/291619/20120202/canadian-dollar-cad-technical-major-currencies-2012-02-02.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The pivotal support around 0.9965 is still providing the pair with a good support as seen on the provided four-hour chart. The struggle around the middle line of the descending channel that dominated the movements from 1.0285 zones continues fixing RSI ...</div>
</div>
Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-vs-australian-dollar-01021335.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 1, 2012 </span>
<div style="width:80%;">The pound Canadian dollar exchange rate is 0.02% higher at 1.5810, the euro Canadian dollar exchange rate is 0.22% higher at 1.3148, the US dollar to Canadian dollar exchange rate is 0.5% lower with 1 USD = 0.9971 CAD.</div>
<a href="http://www.thestreet.com/story/11394595/1/usd-cad-susceptible-to-weakness.html">USD-CAD: Susceptible to Weakness</a> - <span style="color:#888888">TheStreet.com</span><br>
</div>
All forex trading systems lose, for sometimes weeks on end (and that includes the best) so you have to accept responsibility and have the confidence and discipline to follow your plan.
Why Its Forex Trading is so Hard and The Rewards so High?
You are trading against the market and it is always right and only you can be wrong. Your success is down to your market timing and how accurate you're trading signals are and that's it. Sure, the market will prove you wrong and sure the market will make you look stupid - but that's trading.
So if you understand the above, then your forex education is all about:
Getting a logical method that puts the odds on your side, having confidence in it and trading it with discipline, through good times and bad times.
It's easy to learn trading - but it's harder to get discipline however, if you accept this and want success, forex trading can reward you with a fantastic and sometimes even life changing income. trading success is in your hands - are you up for the challenge?
If the answer is yes - welcome to the exciting and lucrative world of global FX trading. Article Source: http://www.upublish.info About the Author:
kelly price
Live The Dream
Become A Professional Forex Trader From Home!
NEW 2 X FREE Forex Trader PDF's Get 2 x free trading guides and discover more on Successful Forex Trading visit our website at: http://www.learncurrencytradingonline.com Ready to copy Article in either text or html format:
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Gold Prices Dropped while Silver was Unchanged ? USD Up vs JPY but Down vs EUR <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.bestsyndication.com/?q=20120206_futures_forex_signals_gold_euro_dollar_yen.htm" style="font-size:1.2em">Gold Prices Dropped while Silver was Unchanged ? USD Up vs JPY but Down vs EUR <b>...</b></a>
<br> <span style="color:#888888;">Best Syndication</span> - <span style="white-space:nowrap">20 minutes ago </span>
<div style="width:80%;">(Best Syndication News) Brent crude oil advanced today as tensions between Iran and the United States continued to fester (see forex and commodities charts below).</div>
</div>
Lack of Greek Deal Sends EUR Tumbling
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.forexyard.com/en/market-analysis/lack_of_greek_deal_sends_eur_tumbling-2012-02-07" style="font-size:1.2em">Lack of Greek Deal Sends EUR Tumbling</a>
<br> <span style="color:#888888;">Forexyard</span> - <span style="white-space:nowrap">2 hours ago </span>
<div style="width:80%;">The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt.</div>
<a href="http://www.forexpros.com/news/forex-news/forex---euro-finds-support-on-greece-deal-hopes-230012">Forex - Euro finds support on Greece deal hopes</a> - <span style="color:#888888">Forex Pros</span><br>
<a href="http://www.bestsyndication.com/?q=20120205_forex_signals_usd_jpy_eur.htm">Forex Trading and Currency Exchange Rates ? USD/JPY rises as EUR/USD drops</a> - <span style="color:#888888">Best Syndication</span><br>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-07)
<div style="padding:0px; margin-bottom:1.5em;">
<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">4 hours ago </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>
</div>
British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/british-pound-eur-safe-haven-06021355.html" style="font-size:1.2em">British Pound Sterling: Currency continues advance against EUR, safe haven <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">21 hours ago </span>
<div style="width:80%;">The Pound continued its advance against the Euro this morning, but the UK currency declined for a second day versus the US Dollar, as market speculation escalates over the prospect of further quantitative easing from the Bank of England this week.</div>
</div>
Canadian dollar exchange rate (CAD) falls back vs USD as risk aversion takes <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<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">21 hours ago </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.forexpros.com/analysis/usd-cad:-canadian-dollar-down-on-greek-concerns,-weaker-oil-prices-113296">USD/CAD: Canadian Dollar Down on Greek Concerns, Weaker Oil Prices</a> - <span style="color:#888888">Forex Pros</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>
</div>
Canadian dollar exchange rates (CAD) are a big winner following strong Non <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<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>
</div>
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>
</div>
Canadian dollar exchange rate: CAD finds risk environment unconstructive <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<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>
</div>
Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.ibtimes.com/articles/291619/20120202/canadian-dollar-cad-technical-major-currencies-2012-02-02.htm" style="font-size:1.2em">Canadian Dollar (CAD) Technical Major Currencies (2012-02-02)</a>
<br> <span style="color:#888888;">International Business Times</span> - <span style="white-space:nowrap">Feb 2, 2012 </span>
<div style="width:80%;">The pivotal support around 0.9965 is still providing the pair with a good support as seen on the provided four-hour chart. The struggle around the middle line of the descending channel that dominated the movements from 1.0285 zones continues fixing RSI ...</div>
</div>
Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b>
<div style="padding:0px; margin-bottom:1.5em;">
<a href="http://www.euro-exchangerate.com/canadian-dollar-vs-australian-dollar-01021335.html" style="font-size:1.2em">Canadian dollar exchange rate: CAD is cross currency under-performer <b>...</b></a>
<br> <span style="color:#888888;">Euro Exchange Rate News</span> - <span style="white-space:nowrap">Feb 1, 2012 </span>
<div style="width:80%;">The pound Canadian dollar exchange rate is 0.02% higher at 1.5810, the euro Canadian dollar exchange rate is 0.22% higher at 1.3148, the US dollar to Canadian dollar exchange rate is 0.5% lower with 1 USD = 0.9971 CAD.</div>
<a href="http://www.thestreet.com/story/11394595/1/usd-cad-susceptible-to-weakness.html">USD-CAD: Susceptible to Weakness</a> - <span style="color:#888888">TheStreet.com</span><br>
</div>
Is the simultaneous purchase or sale of one currency against the purchase or sale of another.
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