OPEN FOREX TRADING

What Separate a Successful Forex Trader From Others?

2011-10-18T03:00:00.000-07:00

by Amuro Wesley

5 Things You Must Do To Achieve Financial Freedom From Forex

Despite of amazing growth in Forex markets, many traders still lose money. They have either followed the wrong advice or failed to follow it at all simply because they think they know everything about Forex. Here are 5 ways to minimize your mistakes and accelerate your success.

1. Have Faith In Yourself

To be a successful trader, you must have faith in yourself and the training you received in Forex. Instead of relying on brokers and news, you must be willing to make all your trading decisions yourself even if there is a possibility of you losing all your money.

If losing money is totally unacceptable to you, then Forex is certainly not for you.

2. Accept Your Learning Curve

Unless you are an intermediate or advanced trader, you will lose money in Forex as newbie even with the best training and tools you received in Forex.

Like it or not, this is part of the learning curve all newbies have to go through. This is also the part that separate those who just want to get rich quick from those who want to achieve long-term success.

I do not mean to discourage you from trading. But at the same time, I need to tell you the reality instead of painting beautiful pictures of making millions like most Forex gurus do in order to get people to part with their hard-earned money.

3. Decide What Type of Trader You Are

Different people have different risk appetite in trading.

You should decide which style suits you the best in terms of your risk appetite and personality.

If you do not know, I suggest you do demo trading first instead of live. That way, you can learn without to go through the hard way.

4. Get Educated

Like what you learnt in school, education is the quickest path to successful trading in Forex.

Whatever your goals are, you need to give yourself some time to go through and review different options before finally determining who to trust with your educational needs.

A Forex seminar can help to shorten your learning curve but a workshop and a right mentor can accelerate your path to success.

5. Upgrading Yourself

Learning the basics and fundamentals of Forex is good but is still not enough for you to achieve long-term success.

Instead you should be contantly upgrading yourself in order to reach the elite level. Do not let success limit your knowledge.

This is what separate a successful forex trader from others. Their desire and ability to be independent apart from simply just following what their mentors want them to do. There are numerous signals, strategies and techniques out there but what really boils down is what you apply and whether you achieve results or not.

These are the 5 things that separate an elite forex trader from all others is their desire and ability to be independent. Many traders are willing to follow signals, systems, strategies, or anything else you may call them. By taking this approach, however, these traders are only as good as the people they follow.

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Discover how you can make money from Forex easily with these tested and proven trading strategies in Trading Currency For Profit.

How To Minimize Your Forex Trading Risk?

2011-09-06T09:23:00.000-07:00

Forex Trading is one of world wide business that can bring you a big profits but also can risks your money as well. But, there always be a way to minimize the risk – by trading with the Introducing Brokers Service or Forex Agents that offering forex rebates for every trades you do.

What is Introducing Broker?

When you trade directly with your chosen brokers they will taking profits from the spreads. So we just can say if you trade EUR/USD with 2 pips spreads, your broker will get the profits from this 2 pips no matter you win or loose.

Introducing Broker is a service that acting as Forex Brokers Agent. Their main job is to find new traders to trade with the referred Forex Brokers and will receive ‘revenue sharing’ as payment to bring more traders to the Forex Brokers.

To attract more traders, some Introducing Broker Services usually offer added-value services to the new traders. Some will offering free forex education or forex course, free trading signals, market analysis and – Forex Rebates.

What Is Forex Rebates And How It Works?

The forex rebates is a revenue sharing from the Introducing Brokers to the traders as thanks for joining and trading with their services.

And this is how its work – Introducing Brokers will receive compensation bonus for every trades from traders they refer to the Forex Brokers. Usually, the Introducing Brokers will receive 1 pip from the Forex Brokers for every trades – so if you register with Introducing Broker and trade EUR/USD with 2 pips spreads, the Forex Broker will split their 2 pips profits and give 1 pip to your Introducing Broker … and then Introducing Broker will split their ‘portion’ to you as forex rebates.

Some Introducing Broker offering rebates from 0.5 to 0.8 pip – so if 1 pip = $10, then you will receive $5 to $8 rebates for every trades you do – no matter you profit or loss.

Good Point. This can be very sweet additional profits when you win and also a way to minimize the risk of loosing all your money when the market move against you.

Check This Out!

Get Forex Rebates with OPEN FOREX TRADING. In collaboration with InstaForex Rebate System - now we offering ~~not 0.5 - not 0.8~~ ..

1.3 Pip Forex Rebates on your every trades.

How to receive Forex Rebates from OPEN FOREX TRADING?
Click Here To visit InstaForex Official Website (You must click on this link in order to receive 1.3 Forex Rebates. Simply create DEMO Account to test InstaForex Trading Platform if you're not ready for LIVE trading)
Send email to insta.rebates@openforextrading.com (tell us your name, Live Trading Account numbers for administrative purpose)
Deposit money to your trading account (- choose your deposit methods - via Bank Card, Bank Transfer, via Liberty Reserve system, via Alertpay, via MoneyBookers (USD), via Webmoney system, via EuroGoldCash (USD), Global Digital Pay transfer (USD) and more - We remind that when you withdraw funds via payment systems you should observe the following rule: the payment system as well as the currency of depositing and withdrawal must be the same. However, as an exception, for the customers who replenished their trading accounts by the card, it is possible to withdraw the amounts less than 300 USD via MoneyBookers and from 300 USD - via bank.)
Start trading and you will receive your rebates transfered into your trading account.
Sent email to insta.rebates@openforextrading.com if you have any questions about our services.

2 Forex Trading Contests On September 2011

2011-09-01T13:30:00.000-07:00

OK. I'm gonna make it brief. There are 2 Trading contest will be held on this month!

First, trading contest sponsored by GO MARKETS in collaboration with MYFXBOOK.COM with $4,000 in total prizes will be given out. A $2,500 GO Markets real funded trading account will go to first place, a $1,000 GO Markets real funded trading account will go to second place, and a $500 GO Markets real funded trading account will go to third place. Trading contest will be held on DEMO account so there is no need to risk your money at all. Start of the first trading week in September: 18:00 ET September 4th, 2011. The contest ends at: 17:00 ET 1st October, 2011 (contest total duration 25 days).

Visit MYFXBOOK.COM and check their Contest link

Second, is the 3rd ForexBall™ round is now open which is available to participants from any country around the world! As with the rest of the ForexBall™ rounds, each competitor will receive $5,000 in demo money on their account and via trading in the Forex market will try to make the largest profit. from the 5th of September till the 16th of September.

Visit ForexBall™ To get more info

Better hurry up! It is the best opportunities to test your trading skills!

Being a forex trader: Is it for you?

2011-09-01T11:51:00.000-07:00

Being a forex trader is not for the faint of heart. The foreign exchange market is a fast-paced world that operates 24 hours a day, 5 and a half days a week. For some traders, fortunes are made and lost very quickly. Yet for someone with the right know-how and enough motivation and drive, forex trading can be rewarding both personally and financially.

How many people make their living as forex traders? It’s hard to say for sure, but we know the number is smaller than the number of stock traders. Most forex traders are actually international banks and other huge corporations; private citizens comprise only about 2 percent of the entire forex market.

Nonetheless, they are out there, and the number is growing. As the Internet and other technological advancements make it more accessible, the forex market becomes more manageable and more average citizens become traders. To begin with, most of these “day traders” keep their regular jobs and do forex as a side project. It’s notoriously difficult to make a living as a forex trader at the start, and most new investors find they must allow for the learning curve before they’re really ready to do it full-time.

Once a new trader gets the hang of it, buying and selling currencies with some degree of confidence and turning a profit, he may find that he can quit his day job and focus on trading full-time. There is certainly enough activity to fill a forex trader’s day, with news that could affect currency rates coming in almost constantly. A smart trader watches this information continually, almost obsessively, always on the watch for a sign that the time is right to buy or sell.

With home computers and high-speed Internet service available nearly everywhere, being a trader from home has become feasible. Some traders eventually become brokers, but the excitement -- and the potential profit -- lies in working for yourself. With a stock market, a bad day could mean disaster. But with the forex market, a bad day for one nation’s economy hardly matters, since there are still a dozen more strong, viable currencies to be traded. In that way, some consider being a forex trader slightly more stable than being a stock broker. Either way, there is always risk when money and speculation are involved, but with dedication and resourcefulness, you can make a handsome living as a forex trader.

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