NiaTradingSignals

The forex article on the best forex system has an extremely high number of hits on this site. And one of my fellow traders told me it’s probably because people are busy looking for the best forex sysem with no loses to trade. Then we got into an argument , is it the forex trading system or a forex trading plan with proper forex money management that makes the trader money?

It is true that the more you practice, the better you become with what you do. However ,in trading, the more you trade, the more likely you are going to lose. If we believe that 90% of traders are losers, doesn’t it make sense that the more they trade the less loses they would make? A lion has been known to wait for hours and days to make a kill and their win loss ratio is high because of this. It will wait patiently until it sees the week prey …

So now you have a trading system that you found in a forex ebook and are ready to start trading. Before you do that you need to think! Are you really sure your system is going to work? Are you willing to follow it even when times are bad? Sometimes it’s good to listen to Tammy Wynette’s song “stand by your man” before so you can understand what you will have to do to really follow your system.

There are only 3 ways I know that you can know if your …

If you are trading by yourself in front of that damn computer everyday you need to be motivated. I use different ways to motivate me. From music to speeches. It’s actually funny how some of the best men on earth can motivate you.
Tonight we have General Patton . Considered to be one of the best American generals. So what would he tell you as a trader at 2am in the morning?

I have said this before and I hope people listen. Trading is not a get rich quick scheme. You will be better served opening a 401k or buying shares to hold than trading thinking that you are going to make a million this year. I had those hopes but discovered to keep my sanity; I trade to buy time to do other things that I like not to be a millionaire.

There are two schools of traders: technical analysts who trade of charts and fundamental analysts who trade of the news and the underlying conditions of the market. I prefer the middle path where you use one or the other to confirm the other trading method. I like technical trading but don’t mind a bit of fundamental analysis to confirm my position.

Fundamental traders tend to be long-term traders and spend most of their time looking for shifts in economic conditions eg the present mortgage issue in the USA could lead one …