Could I get rich trading forex?
Learn To Trade Forex – Advice From A Group Of Traders Who Made Millions
If you are looking for the best way to trade Forex, you should start by looking at the group of traders enclosed, these traders learned to trade in just two weeks and made hundreds of millions of dollars! It’s an interesting story and one which can lead you to success so let’s look at it.
If you want the best way to learn to trade Forex, ignore all the people who tell you that there is a way to beat the market, there isn’t. All the people trying to sell you Forex Robots and other get rich quick systems – should be ignored, you need to make some effort but the rewards can be staggering, as we are about to find out. The group of traders we are going to look at in this article, learned the basics and you must to but the good news is they learned to trade in two weeks and became legends; if you are thinking maybe these traders were nerds, think again.
The people who learned to trade in two weeks consisted of an actor, a security guard, a kid out of high school and a lady auditor, to name just a few. This diverse group were picked by trading legend Richard Dennis, to prove anyone could win at trading and learn quickly. He was proved right, as his group of traders made over $200 million in 4 years. They were called the “turtles” and the system they were taught is now free online and if you look at the system you will see how simple it was. The system is less effective today, as market volatility has increased ( the experiment was 25 years ago) but it still makes good profits and has all the elements a good system should: Learn To Trade Forex
It was easy to understand, was based on trading the reality of price change via breakouts, it focused on the big long term trends and had strict money management parameters.
Many of the traders in interviews stated the system was easy to understand but hard to follow with discipline. Discipline is hard for most traders, as they simply can’t take losses, so they run them and when they have profits they cut them too soon! What you need to do to win is to cut losses and run profits, the above system had far more losers than winners but made huge gains.
Discipline comes from a solid education and confidence in your systems ability to perform long term; if you have confidence and you accept and take your losses and have the courage to milk the big trends for all there worth, you can make a lot of money.
So when anyone tells you, you need to work hard or have a college education to win, don’t believe them you don’t. Many of the top traders in the world, are high school drop outs and use simple systems but they all have one thing in common which you have probably already guessed – A humble attitude, respect for the market and the discipline and courage to follow their plan.
If you have understood this article you will now know the best way to learn to trade Forex and also understand that if you adopt the right mindset it’s the key to a huge regular income. Learn To Trade Forex
About the Author
Always dream of being Rich? Never able to make a Consistent Profit through trading?
Get your Learn To Trade Forex ebook and be Successful forever!
Try this Surefire Forex Challenge and see the results Yourself!
Is Forex Brotherhood Another Trading SCAM?
Is forex brotherhood another forex get rich quick investment SCAM? i see them trying to promote there click bank stuff on all the forex forums. i know there was a flood of scams this year like forex , razor , funnel , auto pilot , and killer something but it all got exposed and now the same con artist “scammer group” is trying to make a come back with this new attempt with forexbrotherhood i could use some good advice and recommendations about this forex product
Hahaha, they are working that hard?
Definitely a scam!
The Great Advantages of Automatic Forex Trading (Part 2)
Additional Information - The 6 Best Reasons to Trade Stocks Online In the past when you wanted to trade on the stock market you would have to put your money in the hands of another by hiring a broker. Things nowadays are much different however and you’re able to trade stocks online and eliminate the middle man all together. This means......
- Does this website sound like a good business venture? Ok, the idea is like ebay but a bit different. It would be website where you can come to trade books with people from all over. See people that join would be able to get all kinds of books for relatively small amounts of money. There would be a section......
- How deep does a cut need to be to leave a scar? Look at your forearm. Now look at the complete opposite side of your arm. The section of the arm between your elbow and the top of your hand. How deep does a cut in this section of skin need to be before it leaves a permanent scar? How deep......
- Wednesday Lotto AU 1.5million No change in strategy today, as both aspects look strong, under 33 mainly or all, and within recent 4-7 draws. Due mainly to Saliu ION Filters being fairly low for a few draws, and having ANY 6 Filters of 43 and 35 in draw 7 and draw 9, all point......
bestimtools 13th March 2010
As they say on Forex "previous trading results do not guarantee profits in the future".
But that does not mean you need to stop. God speed. Just take care of the risk management and do not trade higher than 1/20th or 1/25th of the balance sum – then you can be sure that with unexpected losses you do not suffer from the surprised of the currency market.
Kylash 13th March 2010
Possible – Yes
Likely – Well maybe….
As a day trader myself I can tell you that "consistency" is rarely seen in the world of trading, you shouldn’t expect to make that same amount every day, let alone be profitable every day.
The statistic that "approximately 90% of traders lose all the money they put into their account" is in fact, true.
However if you’re extremely disciplined and form a daily plan for trading (with your daily profit goals, and maximum loss) then it’s very possible you can succeed (assuming that your basing your trades off a solid system).
Don’t let others discourage you; day trading is a legitimate way to make a possibly substantial income. Few traders however, ever get to this level.
ADAMSMITH 13th March 2010
S&P future trading and FX trading is different thing even professional traders can lose money. It requires some eduction learn how to trade or take course if you don’t know. Fx trading is significantly riskier than other markets.
David Z 13th March 2010
yes. it is virtually a slam dunk.
Online 13th March 2010
Get Rich Quick Trading Forex – How to Do It In Simple Steps … Many people would not like to receive rich acting thing forex and it give a doubt it offers the potential to thus do but most fail. So is it possible to receive rich acting thing forex? Absolutely – however you must hold the following in the understanding,
fx 13th March 2010
You could get rich, and you may get even poorer. It’s often that a new forex trader will initially win but making loss in the long run. It’s all about the psychology on greediness and don’t know when to stop loss. You will definitely need to overcome this which isn’t easy. Good luck.