The shocking discovery you should know if you are looking at a forex system or forex software is that brokers surveyed indicate that 95% of Forex traders lose and lose big. Wikopedia says that the average forex trader loses $15,000.
The main reason for this devastation is that teachers who lead forex classes and foreign currency trading programs are mere salesman and do not believe in their forex systems enough to trade currency with their own money. They make their money from recruiting new students and from teaching. What they teach is theory, not from their experience.
What you need to know immediately, however, is that you can make money in the Forex Market. And you need to know how.
Here’s five rules for getting starting in the online forex system:
First, do not try to win every trade.
Secondly, decide how much you will allow each trade to lose, make it small, and stick to it.
Thirdly, decide how much you want to make from a trade, and stick to that also. Never try to close at the top. Try merely to get a portion from the middle. Use your head.
Fourthly, get to know two or three indicators very, very well, and use only them. That’s all you need.
Fifthly, make up your mind you will spend 3-5 years learning before you plan to make money. This is where most people fail. They want money and they want it now. This is the one few people are willing to do, but these are the 5% who make money, and lots of it.
The Forex Trading problem is not the system, but the trader. Human emotion pushes online forex traders into doubt, fear and/or greed, all at the same time. Indecision grabs hold, and as brokers know, 95% of traders lose. This is the reason, by the way, that brokers themselves do not go home and trade for themselves.
If there is money to made in online forex trading, what can you do? There is an answer.
Hop on the train with someone who has spent the 3-5 years patiently learning. Make sure it is someone who themselves make money consistently, safely and securely and who is not trying to get you rich too quickly. Follow their lead.
The best way is to find someone who gives you a chance to duplicate them. And what is the best way to do that? Find one who has put their forex system into forex software. Make absolutely sure they use it themselves. If they do not use it for their own money and share risk with you, they are making a fool of you.
Make sure they monitor the system. Make sure they watch it and can and do tweak it as the need calls for.
You may find dozens of so-called trading systems that use software, and call themselves trading robots. Most have been thrown together quickly just to sell you. Some are cheap. They depend upon mass marketing. Do not get one that is competing on price. Pay a little more and make a lot more. There are other major problems in this market I will deal with in the future.
But there is one forex system that has integrity and will get you to retirement by not taking unnecessary risks. No system can promise anything in the trading arena, but this one comes as close as it gets. It does not play with emotions to get your rich quick. It is doubling the money of the founders and clients every two years. Slow? Yes. Fast, in comparison to worn-out investment styles? Very fast. It has the potential to take $5000 to $2000 to Million Dollars for that nest egg within 6-10 or 12 years.
Dr. Terry C. Thomas
Tags: forex software, forex system, forex systems, forex trading, Online forex
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