How To Succeed In Forex Trading

If you want to learn how to succeed in currency trading , this article is for you and the way to do it is not the way most traders believe, as 95% lose. To win at currency trading you need to understand this article...

The first place we are going to start is to compare Forex trading success, to a game of chess. Why? Because the way you succeed in Chess, is similar to the way you succeed in Forex.

Chess is a simple game on the surface (just like Forex) you have a set number of pieces and simple rules now consider how a game unfolds. Every game has the same rules but every game is different. There are literally billions of different outcomes to a game of chess but the rules the game are played in remain constant - so what does that prove you may say?

Well consider Forex trading in comparison - most traders spend time looking for an underlying order to the markets and trying to predict what will happen next but this never works. You can't predict how Forex prices will unfold exactly but if you know the rules of the game you can react accordingly and win.

In Forex trading the simple rules you adhere to are these:

1. Never predict always react to the reality of price change

2. Whatever happens limit your losses

3. When you get a profit hold it and maximize it

There are many traders who follow junk robots and sure fire trading systems which claim to predict price movement and they all get turned to dust by the market. Your trading system can be simple, as simple systems always work best, as they are more robust than complex trading systems. The important criteria to base your forex trading strategy on is you must the trade the reality of price change and not predict.

A good example of trading the reality of price change is to use a breakout methodology which you can look up in our other articles, it works and will always get the odds on your side. If you trade the reality of price change with your Forex trading system, you will have the odds on your side and win.

If you think about the logic of the above piece of Forex education it leads you to a compelling conclusion:

A simple set of rules and the ability to trade on the reality of price change, can allow you to enjoy currency trading success.

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