Tap the first key to forex trading success

Fx Trading - Tap the first key to forex trading success - Part 1 of the success equation

Many people dream of making money from trading in the stock market, trading futures and commodities and currencies trading. For many retailers, their dream, but still remains a dream. This is because many of them are able to trade profitably, not because they tried to become better traders, but no matter how hard they tried, they were unable to make progress.

Worse, some even lost their capital or went bankrupt in the process.

In my work as a Certified Financial Planner, I had the opportunity to conduct private research on the personal needs of traders and investors. Overall separating these traders and investors into two major groups ... first group of perennial losers, and the second group are consistent winners ... I learned two main features that separate these two groups. In fact, I can easily say that these two features provide the key to the success of the line winners.

My premise is simple: If I can isolate these two factors are among the winners and losers, could have the best chance to help turn losers into winners by showing them what these two factors that they can follow!

So what can you learn?

Consistent winners have clearly demonstrated that beat their commercial setting, and has the ability to follow through with the trades in a disciplined manner. On the other hand, loss of retailers were identified with less than a disciplined approach to their craft or unnecessary in the trading process in identifying clear trading setup. Many of them were eager to trade, although no clear trading setup that account to trade.

Clearly then, the first part of the equation to allow the transistion of losing the sole winner of consent that lies in the ability of the trader's loss to beat her TRADING setup.

It is when you let the market tell a story and follow the market trend and pick up every nuance of the market which is represented by the advance and pre-defined trading setup that can become a successful trader. The sad story is that almost all the traders who are losers tend to force the market to give a profit when there is a clear trading setup that can enable this feature. They have their ideas preconcieved trades must give "X" amount of profits when the market does not do it on their proposals, they are unable to accept that they are wrong and to take a loss.

Does this sound like you?

If you are a Forex trader, or shares and share trader or futures and commodities trader, the first part of the equation to move from losing trades into profitable trades to master your trading setups.

What then is a practical solution - "master your trading set"

Find a profitable trader consistent winner and to learn from him. This process of learning is not new. In the old days, we call this "schooling". In today's world, we call that mentoring. While it may be difficult to get a good trader to full-time mentor, the advent of technology and accelerated learning systems led to specialized courses that can be delivered via multimedia and the Internet or through books and professional literature that can act as surrogate real life learning.

In Part 2 of this article series will reveal the second part of this important equation that can change your trading career from a loser into a winner.