Thursday, January 17, 2008
Consistent Profits In Forex Trading Working Only 1 Hour A Week
So many forex traders look for the big score. Unfortunately they end up with the big loss. The big loss becomes another big loss, ad nauseum. It is hard to watch so many pie in the sky type traders. The most difficult part of this mentality is that it stands in the way of making real money trading. It is like the old saying, How do you chew an elephant? One bite at a time. It is the same for the world of forex trading. You can make consistent profits in trading taking little bite after little bite and that is the way to really make the consistent profits. The reality in forex trading is that not many professionals reach profit levels of 10 to 20 per cent a month. Most successful traders make 2 to 10 per cent a month. Of course, the degree of profit depends on the amount of the margin deposit. If a new trader practices discipline and avoids greed they can easily double or even triple their minimum deposit within a short period of time. Just do not forget that high profits are proportional to high risks. There are many ways to make money in the forex market. Some of these methods include: Technical analysis (e.g. relative strength indicator, moving average crossover, bollinger bands, etc ...), fundamental analysis (e.g. leading economic indicators released in different time periods, accounting stats, etc ...), chart analysis, and seasonal relationships just to name a few. The truth of the matter is that many of these methods will work and ultimately prove to be profitable is used properly but you must avoid the ugly monster known as greed. It is a forex trading killer. If you are willing to make small profits day in and day out you will be on the road to the big money. If you are looking for a way to make consistent profits through a proven forex program then you have come to the right place: fxprofits.info Dan Nobester is a Forex addict. He has been involved in trading for a long time and has held positions of leadership on trading companies.