Forex: Why Do Most Forex Traders Fail -A first-hand experience?

By: dudu tounane

In Foreign exchange (shortened to FOREX) currency trading business that is usually done online, one thing you need to realize is the great potential it has to make you wealthy and rich. Equally, you should be aware of the great risk attached because you could get to lose any amount of money traded badly.

In spite of the unexpected change in times, world economy and reverse in earnings from financial investments made across the globe you may be part of the minority few who is presently considering other alternatives and means by which money can be made trading locally or going international by using the internet.

There are many result yielding, additional or residual income generating business online that you can be engaged in to make a honest living off the internet. There are enough genuine and legitimate businesses and opportunities that are rewarding for any effort made on your part.

Forex trading may just be one good and recommended place to start.

Just before you run off like many others to get started, you must realize that in the same way you can make a fortune trading Forex considering that more than US$3 Trillion dollars is always at stake (being the amount traded daily when the Forex market is active), you can also lose all your money invested.

Most Forex Traders fail for a number of reasons but three of these will be shared with you. Armed with this information and taking the necessary precautions when trading Forex you can be guaranteed of success.

1. Inability to predict correctly Forex market trends and changes daily. The profit is in the trends and changes no matter how small this may be. You need to know when to enter a trade or when to exit.

Any trade is based on luck and guesswork which is made evident in your correct analysis and interpretation as you observe and monitor the manner in which the market is either progressing or retrogressing. One is an indicator to buy while the other is another indicator to sell.

The difference translates into the number of points (or PIPS) you have either gained or lost. 2. Greed. Before you start Forex trading, determine beforehand your limits. You must decide on how much you want to trade with because when you trade and make profits (which is certain to happen) the temptation is there for you to place higher bid values based on the success you are recording and the profits you will be making.

Eagerness to strike it rich quick has led many Forex traders to outbid themselves out of their capital invested or money traded with. Rather than win and make more money or profits they lost and away went their money leaving them impoverished.

3. Lack of time. Trading Forex successfully requires time. This you must have in abundance as a Forex trader. The Forex market is open 24Hours daily and 5days in a week (Mondays through Fridays), as a result you will need to BABYSIT your computer all day to be able to monitor the trends and discover any changes. WHY? Because you need this information to be able to decide on when to enter a trade or exit a trade.

With family, work, business, friends, leisure and entertainment, sleep, etc to distract it becomes challenging to stay glued to your PC all day.

You may be quick to note and equally ask -How does anybody expect to make money with these tough challenges to overcome? This is SIMPLE -make use of a FOREX TRADING ROBOT.

Ships and big ocean liners traverse the waters and the high seas securely. Airplanes fly with their human cargo safely across the skies. With the use of Cell phones you readily stay in touch with loved ones no matter how far apart you are.

A Forex trading robot can trade 24 hours daily and 5 days in a week. It can monitor and correctly predict market trends and small changes observed. It can look for profit opportunities and promptly respond. At the end, you only have profits to record in addition to keeping your capital or initial investment intact, get more than sufficient time to enjoy yourself and attend to other matters or events.

About the author:

It is a known fact that more than 95% of Forex traders fail while a little above 5% of Forex traders succeed and make profits in addition to not losing their monies or investments. With FAP-TURBO you can join the league of successful Forex Traders and watch your Forex accounts grow.