No matter where you turn, there is somebody out there looking for a way to make money Forex trading.  Unfortunately, not too many find success, if you go by the statistics.  In fact over 95% of people who try Forex trading end up losing money. That’s a pretty big gap between success and failure.  What’s the difference between the haves and have-nots?

It’s all in the approach.

If you were ask the average Joe whether they way to learn to trade Forex, they will most likely say yes.  But I think most of them are lying.   I say this because there are a ton of traders who don’t want to do the dirty work and are looking for a shortcut.  How else would you explain the reason why there are so many of these Forex trading robots being sold to people.  If that isn’t a definition of a shortcut, I don’t know what is?

If you are one of these kind of people, I wish you the best of luck. I can understand why you would want to the shortcut.  After all, who wouldn’t want the rewards without actually doing the work?  But just so you know, this is not how that elite 5% of successful traders treat the market,  So while the 95% are looking for shortcuts, the 5% are treating it like real business.

If you want success, it’s imperative that you learn how to analyze the markets.  Whether it be technical analysis or fundamental analysis, work must be done on your part so you can have a strong comprehension of the markets.

John Templeton has been a successful Forex trader after learning how to trade price action. Once he understood that all he needed to trade Forex was on a plain chart with no indicators, his profits soared. You too could learn to trade forex.

Article Source:http://www.articlesbase.com/currency-trading-articles/how-to-make-money-forex-trading-by-taking-a-different-approach-1029751.html

Not every trader likes to use the “buy and hold” kind of strategy, where they hold on to a trade for weeks at a time. In fact, many traders like to scalp the market, where they enter and exit trades several times during the day. I can definitely understand why certain traders feel this way. The only problem I have about it is that most don’t take the time to really learn what they are supposed to be doing, before they start jumping in and out of the markets.

To begin with many forex scalpers (sadly) don’t know how to spot the trend. This should be the basics and many people just don’t know how to do it. I’m not saying you can’t have success trading against the trend, but your chances definitely diminish. It would be like trying to catch a falling knife by the sharp end instead of the handle. Sure, you might not get hurt, but you eliminate the risk just by using the handle.

When it comes to spotting the trend, I strongly encourage you to lose every single indicator that you are currently using. I know that sounds insane, but quite frankly you don’t need them. I know, I know… what about moving averages, MACD, stochastics, etc… The truth is all you will ever need is a simple bar chart.

Spotting a trend is as simple as reading from left to right. What are your charts telling you? In what direction is the price moving?

You can even use different time frames and compare the short and long term trends.

John Templeton has been a successful forex trader after learning to day trade. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

Article Source:http://www.articlesbase.com/currency-trading-articles/forex-scalping-without-the-use-of-indicators-995557.html

I was no different that anybody else when I first started trading forex. I looked high and low to find the best forex trading platform. I would be in awe of these thousand dollar trading platforms that you see on commercials in financial networks such as CNBC and Bloomberg. How could you not be?

The commercials showed you a forex trading platform which had every single bell and whistle you could imagine. The graphics looked beautiful, and everything about it just screamed state of the art. But as I grew as a trader, one thing became very evident to me. None of this is actually necessary. So I deplore you that the next time you see one of these glossy ads, respond by saying “who cares”?

Have you ever heard the saying that a great trader can trade successfully irregardless of the tools they use. I agree 100% with this. I didn’t when I first started trading. I used to see videos of professional traders on wall street in front of their computers with 10 screens and every imaginable toy at their disposal, and I thought this is the only way a trader can succeed. That is rubbish!!

Take a look back at the history of the stock market, WAY before computers. Look at famous floor traders like Jesse Livermore. He was a floor trader at the turn of the 20th century. He became rich just by following the movement of the price and how traders reacted to it. The amazing is that NOTHING has changed since then. The only difference is that traders think they need all this excess.

John Templeton has been a successful forex trader after getting forex training. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

Article Source:http://www.articlesbase.com/currency-trading-articles/the-best-forex-trading-platform-it-shouldnt-matter-993890.html

If you are a new trader who is looking for a way to learn about the intricacies of the forex market, you are probably looking for a mentor to help you.  But the question remains what kind of forex mentor should you be looking for?  Goodness knows, there are seemingly infinite amount of forex mentors out there, so it’s important that you get this right.

There are a couple of things wrong with many of the forex mentors.  First off, many people proclaim themselves “mentors” when they are not.  They are salesman.  You can spot this when they tell you that, if you learn from them you will be able to make hundreds of thousands or even millions of dollars within the first month of trading with them.  You should know that this is utter nonsense.  That is just not realistic.

Another problem with a lot of mentors is that they rely strictly on the using of indicators. This is usually a bad sign.  The truth is the majority of the successful traders in the forex market prefer not to use trading indicators.  Most of them trade using price action as their main way of deciding when to buy and sell.

Price action is as old as the stock market itself.  It is like the bread and butter of floor traders.  They like to study the behaviors of the price patterns to depict true support and resistance areas.  These are the kind of forex mentors you should be looking for. If you can find them, you know you’re on the right path to success in the forex market.

John Templeton has been a successful forex trader after learning forex. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

Article Source:http://www.articlesbase.com/currency-trading-articles/what-kind-of-forex-mentoring-should-you-be-looking-for-969856.html

People are always looking for the ultimate in forex trading training. The problem is though that most people never do the right things. The first problem that comes to mind is the fact that most people add more and more useless information on their charts. For example, indicators.

Traders load their charts with indicators that are just not helping them in any way. Let’s put an end to that today. I want you to do this little experiment. I want you to get a little more “dialed in” to the market. The only way to do this is by getting rid of your indicators. So do just that. Clear out every single indicator that you are using on your charts and just watch the market.

You may be thinking “how am I supposed to know what I am looking for?” Don’t worry about that for now. Just sit down and notice the movements of the market. Eventually what you will start to see is that there are inherent patterns on the forex market (or any other market for that matter). You will start to notice that you will be able to predict natural support and resistance areas based off of these price action patterns.

Don’t feel bad if you don’t spot this right away. It took me a long time before I was able to “see it”. But once I did, I was able to have a much stronger understanding of the markets. i waved bye-bye to trading indicators and I never looked back.

John Templeton has been a successful forex trader after getting the right forex education. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

Article Source:http://www.articlesbase.com/currency-trading-articles/forex-trading-training-get-rid-of-your-indicators-955495.html