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Learn How To Trade Forex
Contrary to what every Forex 'expert' out there would have you believe, it's not easy to learn how to trade Forex at all. Trading Forex is one of the most challenging skills you can ever set out to learn, which is especially daunting if you're a beginner just starting out to learn how to trade Forex. If you're finding it hard to learn how to trade Forex successfully right now, you're probably wondering: "Can a beginner make money in Forex trading?" By the end of this article, you'll know what you can do to make money in Forex trading right now.
Can A Beginner Make Money In Forex Trading?
If you have a look around the many Forex websites, forums, seminars and magazines, it seems like everyone's making millions of dollars trading Forex! The thing is, Forex traders love to talk about their winning trades and make themselves out to be wildly profitable traders, but the reality is that only 5% of Forex traders are consistently making money. Yes, even a beginner can make money in Forex trading, but there's a big difference between making money in Forex and making a full time income, achieving financial freedom, and building wealth through Forex.
What Stops Beginners From Making An Income.
So what's stopping beginners from making a consistent, long term income from trading Forex? Well, unlike the professional Forex traders working for the big banks and hedge funds, most beginner traders learning to trade Forex aren't paid a full time salary to immerse themselves in the markets. If you're just starting out in Forex, then you've probably got a full time job that you spend at least 8 hours a day on, and a family and social life outside of that. That means that you have a very real shortage of time to get yourself to the level where you can trade like a pro, and believe me, it takes a lot of time and consistent effort.
It takes years of study, practice and real experience in the markets to learn how to trade Forex successfully, and get to the level where you can consistently make money in Forex trading. Not to mention that you'll be taking on, for all intents and purposes, an unpaid part time job that will chain you to your computer while you are trading. It's something that will alienate you from your social circle, and put considerable strain on your family relationships as well. It's no wonder that most traders wanting to learn how to trade Forex will give up within 3 months, and never make money in Forex trading.
What You Can Do To Make Money In Forex Trading Now.
So what can you do to make money in Forex trading right now? The best shortcut I know is to buy a proven Forex trading system to do your trading for you. I'm not going to look you in the eye and tell you that you can just go out there and pick any system and make millions, because that's simply not true. Profitable trading systems are rare, and you need to choose very carefully. That said, if you can find a trading system that works, you can overcome the biggest challenges any trader faces while they learn how to trade Forex. You'll be able to gain valuable Forex market experience, preserve your personal relationships and most importantly make money in Forex trading while you learn how to trade Forex.
When you've built up the capital and income of your Forex systems operation, and have gathered up valuable trading experience, you may decide to try out trading Forex for yourself. Regardless of whether you trade with an automatic Forex system in the short, medium or long term, it's a powerful solution that will enable you to make money in Forex trading even if you're a beginner.
Thad B. is a Professional Trading Systems Developer who has developed and managed dozens of profitable trading systems over the years for a private hedge fund. Forex trading systems are his passion and expertise, and he has a wealth of helpful resources available for any serious Forex systems trader.
Professional Forex Training
Forex is a potential solution for every single person looking to make more money; earn persistent income and take back control of their lives.
That is a huge statement, I know! But in these times of job loss, economic uncertainty and less money to make ends meet, there has to be a better solution than getting yet another job, or working twice as hard or downsizing your lifestyle.
Forex is a perfect solution! (I will explain why in a minute).
First, indulge me and take a look at your personal situation right now...
Take a minute and think about your lifestyle; your income; and how good (or challenging) life has been. Now, think about an additional monthly income that would financially take you to the next level... from getting ahead financially to being able to upgrade on whatever lifestyle choice you desire next. What is the income number you just thought of? Is it a modest $500 per month? Is it $5000 per month? Is it $20,000 per month? Now write out this statement:
(Don't be shy... be bold!) I would like to earn $_______________ more each month.
Now take a minute and think about your current job(s); current lifestyle; current free time... what options are available for you to increase your income by this amount? Do you see yourself achieving the additional income amount your just wrote down if you continue doing what you have been doing?
Will you need to (or can you) work harder? Can you ask for raise or get another job? Do you have the time (and tuition) to learn an entirely new profession?
If you are at all like me, the answers to the last three questions were no, no, and no!
So how do you get to this next level of income? For me, Professional Forex Trading has been the answer... and I think it can work for you too! I want to demonstrate how and why it has worked because I believe Professional Forex Trading is a real option for anyone interested in trading to earn additional, persistent income.
Hold on just a minute though. Before continuing, I want to make a distinction between trading and Professional Trading; and specifically how this applies in the Forex Market. There really is a huge difference! There are many people who trade, either actively or passively. But the vast majority trade without any trading education or a structured approach to the market. And their results are average at best.
Trading in general (which is non-professional trading) typically consists of:
• Acquiring as many trading tools, indicators, news and information as possible to make buying decisions (usually not selling decisions)
• Attempting to trade, but experiencing average or worse-than-average results
• Inconsistent execution leading to larger, uncontrolled losses and minimal gains
• Inconsistent risk management leading to the depletion of trading capital over time
• Years of frustration and mixed results that rarely ever achieve professional status
Perhaps that sounds familiar to you. It did for me.
Professional Trading (the kind I am now doing) consists of these keys:
1. Mastering statistically proven trading systems
2. Incorporating rigid risk management rules
3. A Business Plan optimized for the temperament and lifestyle of the trader
4. Proper Training by other Professional Trader(s)
And actually, these keys to Professional Trading, (professional meaning trading as part of your profession), are a formula that applies to every profession in the world! Consider a doctor (or lawyer, or accountant, etc...): if I gave you all of the tools, medical books and state of the art equipment doctors use today, could you walk in and perform surgery? Even if you were allowed to try, you would NOT be very good at it. Why not? What do aspiring doctors obtain before they have the confidence to perform surgery on their own? Well, you probably already know the answer. The aspiring doctor practices alongside other Professional Doctors until he builds the knowledge and skill set to take the next step and perform surgery on their own. They NEVER EVER are allowed to just 'try it themselves'. And thankfully, the medical community is structured to prevent anyone from just 'trying it on their own'.
It's a different story in the trading world, unfortunately. You can pretty much do what you want; all you need is some capital and any firm will open your account and let you begin to self-destruct!
Today, however, there are real solutions available!
If you want to create the persistent results of a Professional Trader, you MUST acquire the tools and practice alongside other Professional Traders already creating persistent results. PERIOD!
Then, only after you have the tools; have learned alongside other Professional Traders; and have practiced enough to build your own business plan, you can expect to go forward and create a persistent income stream for yourself. Without the Professional Trader by your side, you are just using your own capital to reinvent a very expensive wheel.
Great! So what does it take to learn Professional Forex Trading? (Glad you asked!)
The answer is easier than you may think... at least it is today! And that's where the buzz of Forex is building.
There are many firms touting Forex, but a relatively few firms popping up that are addressing the aspects of Learning Professional Forex Trading. One company in particular has developed an individualized structure far beyond what I have seen anywhere else. And, their approach is dedicated to applying the four keys to Professional Forex Trading mentioned above and applying them in the Forex market. Here they are again:
Professional Forex Trading consists of:
1. Mastering statistically proven Forex trading systems
2. Incorporating rigid risk management rules to preserve your capital
3. Creating a Business Plan optimized for your temperament and lifestyle
4. Proper Training from another Professional Forex Trader
Sounds nice, and if you are anything like me, the next question is, how can I possibly learn how to do this? My life is hectic as it is! (At least that is what I said.)
But you know what... there is a very real solution that has been structured to adapt to your schedule and provide you with live, professional guidance literally on-demand! (I will share where to find this environment in a moment.)
First, I want to demonstrate why Forex is the place to learn (vs. all of the other markets) and why this market is the best I have seen to learn to Professionally Trade Forex:
Forex is the easiest and most accurate market to trade.
The Forex market is the most liquid market in the world (and it continues to grow), meaning there are more people trading Forex than any other market! This makes it the easiest market for every single trader to get in and out of trades both easily and accurately.
Forex enables you to trade only when it's convenient for you!
Forex is available virtually on-demand. Forex is open for trading 24 hours a day for 5 days each week; making it available for every single trader to participate on-demand, on their schedule (and not during specific market times). This is the perfect opportunity to trade only when it's convenient for you!
Forex enables you to control 50 times your investment capital.
Forex offers traders considerable leverage for their investment; enabling traders to control 10-50 times their own trading capital. For example, a $1000 investment would control $50,000 worth of currency; compared to a $1000 investment in stock being able to control just $1000 worth of stock.
Professional Forex Trading is now available to individual traders in the convenience of their own office (or home) and at the times that most suits their schedule.
So, you may be asking 'where do I go?'...well, there lots of Forex trading firms and Forex trading systems available. Just do a search for Forex and you will have plenty to sift through. However, there is a short list of Forex environments that enable you to truly learn how to trade professionally from Professional Traders. So wherever you look, be sure to check for the four keys that must be included. Ask these questions:
- Do you provide statistically proven trading systems?
- What are your money management and risk parameters?
- What is the business trading plan that you will teach me to create?
- Who are the professional traders that will mentor me to success?
- Is there a live trading environment where the mentors are available 24 hours each day while the market is open?
Once you are trading professionally, you can take you business anywhere, but until you are a professional, if the firm or individual cannot provide good answers to all of your questions, consider going somewhere else to learn Professional Forex Trading.