Learn Forex - Anyone Can Learn To Win At Forex But 95% Of Traders Lose - Why?

Open a free Simulated Stock Trading account to practice trading, test different strategies and have the chance to win weekly cash prizes. Click Here
If you want to learn Forex you can, trading is a specifically learned skill and anyone can become a winner but the fact is most traders lose. So why do so many people lose at Forex? The reason is they underestimate the one key trait you need for success which we will look at in this article...

Forex trading is more to do with mindset than method and a simple example will illustrate my point.

A professional football player will kick a penalty easily in training but let's take the penalty kick 5 minutes before the end of a game, where if the kicker scores the team will win the cup. Is there any difference between these two kicks?

Of course there is, the second scenario involves pressure, the kick by its nature is still the same but much harder as pressure is involved. Forex trading is the same.

You can have a method which is logical and can win but you have to apply it under pressure.

Forex trading is not just about learning a method that's easy, the hard part is applying it through losing periods when the market takes your money and makes you look stupid. Don't believe it won't happen to you, it happens to all traders.

You have to trade with discipline in losing periods and keep your losses small. Just like the pro football player, has to keep his emotions in check as he steps up to kick so does the trader when he's losing.

When you are trading Forex, your success depends on you trading with discipline. Keep in mind, if you can't trade your system with discipline, you don't have a system!

In terms of Currency trading success, it's your mindset which is the key to winning. Anyone can learn a method for success but very few traders have the discipline to apply there method.

Wall Street Survivor Free Game

Stock Market Simulation Game. Learn to trade stocks with this free simulator. Simulate trading with a $100,000 portfolio.
Prizes for top three traders on a regular basis. $250,000 in prizes up for grabs. I play this simulator all the time. And use it to help predict what I am going to trade.

Trade long, short, limits, stops. This simulator has it all.

Give it a try, it's absolutely free. And you just might learn something.

The Currency Trading Current Trend

The central banks of emerging countries are sparing no efforts to the fall of their currencies in this period of high risk aversion, which could further increase if the plan to revive it adopted less than two hours by the U.S. Senate does not pay off quickly. Thus, the central bank of Mexico has sold in the currency markets more than 1000 billion dollars to halt the decline of the peso, which fell to a low address to the U.S. currency on 3 February. While the peso was worth about 10 pesos to the dollar in mid-2008, it now evolves around 14 pesos to the dollar.

It is not certain that this success in halting the collapse of the peso since the aversion to risk could even accelerate in the coming weeks. The traders are very disappointed with the relaunch plan presented this afternoon by the new Treasury Secretary, Tim Geithner. Indeed, although they are broadly aware of the need for a public mass, they do not believe the administration Obama could quickly reverse the current trend of the U.S. economy. If these fears are confirmed, the dollar could see a sharp rise, benefiting from its safe haven status.

Meanwhile, it was the single European currency that benefited today from a technical adjustment between the euro and the pound sterling to move a little against the dollar. Indeed, the three currencies are closely linked. While the British pound Monday appears on the rise, it dropped today facing the European single currency due to the earnings of investors. These buildings massive bet on a rebound of the British currency, based on the observation that although the UK economy is not ready to face the risk of implosion of the pound sterling is totally excluded.

Forex Trading System – Which One Should You Choose?

A “forex trading system” in webspeak is a program designed to enable you to engage in forex trading online. Basically, it is a program or software that you can use to build a forex business.

Think of a forex trading system, or platform, as the diving board that launches you into the online forex trading pool.

Be forewarned before you take the plunge, however, that the Internet waters are filled with alligators. So make sure you exercise extreme caution in selecting a forex trading system.

The first thing you need to do is determine what kind of forex trader you are.

Do you need to stay on top of your trading and be right in front of the computer at all times?

Or do you trust your knowledge of forex enough to invest in a system that enables you to trade using a more portable communications device such as a cell phone or a Blackberry?

There also are web-based trading platforms that enable you, in case your computer crashes, to have access to your account through a different computer.

When you’re looking for a reliable forex trading platform, there are a few things you should look for:

** Does the system offer you the ability to see current market news that keeps you in the know?

This is an important feature because what’s being talked about in the market news often influences the way the market behaves.

** The forex trading system you choose should allow you to place an order quickly and easily without making you jump through hoops. Always look for a system that exhibits ease of use.

** Ask whether the trading platform you’re interested in offers you technical analysis so you can make informed decisions.

** A reliable system should allow you to be able to see your profit and loss.

** Look for a forex trading system that will give you price alerts. This just means you’ll be notified via your cell phone or through some other communication device about changes going on in the currency exchange.

** Also, look for a platform that offers you a speedy withdrawal and one with no commissions or fees to pay.

** And you want a forex trading system that has low spreads and one that will give you a 24-hour live customer service and not one that offers automated help only.

** Finally, see whether the company allows potential buyers to take the forex trading system they’re offering for a test drive. This way, you can try out a few platforms and see which one works best with your trading skills and knowledge.

Of course, there are alternative systems as well. One in particular has gained a considerable following among forex traders.