Welcome to Forex Facts
Currency Foreign Forex Trading Article
This is a selection made from among articles on Currency Foreign Forex Trading. For a permanent link to this article, or to bookmark it for future reading, click here.
Currency Trading Education - 2 Weeks Forex Training and These Traders Made Fortunes How?
from: kelly PriceThe story of "the turtles" has always fascinated me a group of people with no trading experience were taught to trade in just 14 days and went on to become legends piling up hundreds of millions of dollars. It's an intriguing story and one you should make part of your currency trading education.
Trading forex looks easy but 95% lose and 5% win and this story will give you a bit of an insight into how to enter the elite minority.
One day trading legend Richard Dennis was having a friendly debate with his business partner who said traders were born not made - Dennis disagreed. He therefore set out to prove the point that with the right attitude and education anyone could win.
He gathered a group of people who only had one thing in common they had never traded.
They included: A couple of professional card players, an actor, a security card a female auditor and a kid just out of high school to name just a few.
He then taught them a simple trading system based on long term trend following principles, combined with rigid money management criteria and set them off to trade and the result is now well known - they went onto make hundreds of millions of dollars and go down in trading history.
Dennis proved his point - so what did this group do right to make them enjoy such spectacular success?
Here is what you can learn for your own currency trading education.
You only need a simple system and the above was very simple but what you do need is the ability to have confidence in what you are doing, to execute the trading system with discipline and protect your equity.
Here is the difference between successful traders and the losers.
The problem most traders face is, they get the wrong forex education and lose or they cannot obtain discipline.
Most traders cannot accept responsibility and follow others and of course because they don't have confidence in what their doing, they throw in the towel when they take a few losses. Dennis didn't teach his group to follow him or his system blindly - he instilled confidence in them, giving them the discipline to execute their trading strategy, while taking loss after loss in the short term and focusing on the long term.
He gave them the confidence to maintain discipline and money management and stay on course.
This came from inner confidence in what they were doing - they knew their trading edge would come good.
Most traders could win - but they just don't understand the mental discipline that's involved in currency trading and never acquire it.
Today there is a huge industry in telling you forex trading is easy and you can follow a guru, or even more ridiculous use a forex robot with a simulated track record - its all fairy stories and these traders are just simply not prepared for the brutal reality of trading for real.
I think the major point you can take from this piece of currency trading education is:
You have the ability to win at forex trading (anyone does) but you must understand that method is only one part of the equation - confidence, discipline and courage are needed as well and this is down to mindset.
If you like the idea of a challenge and the thought of making a lot of money, study this story in greater depth, it's motivational, very inspiring and of course the experiment worked.
Could you make as much as this group?
Probably not, I have been trying for 25 years but I have made a lot of money and achieved a level of success I never thought possible. The turtle story inspired me to have a go and gave me pleasure and an income I never thought I could achieve and I hope it does the same for you.
About the Author
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential info and more on Currency Trading Education visit our website at: http://www.learncurrencytradingonline.com.
Other Currency Foreign Forex Trading related Articles
Forex Tips And Tricks
Practicing In The Forex Market
3 Killer Benefits Of Forex Killer
The World Wide Forex Market
Can A Begginner Earn A Living In Forex
Do you want to contribute to our site : submit your articles HERE
Currency Foreign Forex Trading News
Rupee recovers after touching all-time low versus dollar - Economic Times
 IBNLive.com | Rupee recovers after touching all-time low versus dollar Economic Times ... the greenback in late morning trade due to mild selling of dollars by banks following following measures taken by RBI to curb the local currency's fall. The rupee resumed higher at 54.60 per dollar at the Interbank Foreign Exchange (Forex) market ... Rupee sinks below 55 Rupee tumbles to all-time low of 54.99 Rupee down 30 paise against dollar in late morning trade |
Forex Trading Strategy Following Spanish Bank's Downgrades - MarketWatch (press release)
 BusinessLIVE | Forex Trading Strategy Following Spanish Bank's Downgrades MarketWatch (press release) In the following guide, we show you how you can trade across global currencies with forex trading provider City Index. The act of trading forex is buying one currency in a pair, for example the Euro in the EUR/USD pair, while simultaneously selling the ... Forex Traders Are Still Selling Euros |
More woes for economy as rupee plunges to record low of 55 against dollar - Economic Times
 Business Today | More woes for economy as rupee plunges to record low of 55 against dollar Economic Times At the Interbank Foreign Exchange (Forex) market, the domestic currency opened slightly lower at 54.45 a dollar from last weekend's close of 54.42 and immediately touched a high of 54.44. However, it fell sharply at the fag-end of trading breaching the ... RBI imposes restrictions on forex dealers Indian rupee plunges for fourth day Staying the hand on forex |
Try a New Approach to Forex Trading With Vantage FX UK - MarketWatch (press release)
 Phones Review | Try a New Approach to Forex Trading With Vantage FX UK MarketWatch (press release) Expert Advisors can be used in a number of ways, from taking care of small elements of the trading process to 'set and forget' strategies where the EAs handle all aspects of the trader's platform and money management. Forex traders can also practice ... Why MetaTrader is the Best Trading Software |
Cap on banks' position in forex futures - The Hindu
Cap on banks' position in forex futures The Hindu The Reserve Bank of India (RBI) has decided to cap banks' positions in foreign exchange futures market to stem the free fall of the rupee against the US dollar. The RBI capped the position limit for banks in the exchanges for trading Currency Futures ... |