2Bull Forex Blog

If you are serious about making money and have a desire to succeed then this article is for you - it will show you a proven route anyone can learn and it only needs a few hundred dollars seed capital. If you want to make 2008 the year that you make money fast read on…

First:

No one else is going to make you rich success is within your grasp and I can point you in the right direction but you must use the tools that will make you money.

If you don’t like responsibility and like to think success will come without any effort - don’t read any further - this article is for people who have the desire and commitment to succeed.

The way to make money fast is to buy and sell currencies online - Before you say I could never do that, let me tell you a story that will change your mind.

In 1983 Legendary trader Richard Dennis set out to prove anyone could learn to trade, so he gathered a group of people who had never traded before, from diverse backgrounds, of all ages, both sexes and varying levels of education. He then taught them to trade in 14 days.

The result?

They made $100 million dollars in 4 years and many went on to become trading legends.

So there you have proof that ANYONE can learn to trade.

You don’t need much to get started - online forex brokers will accept deposits of just a few hundred dollars. You may ask how can you get rich on a few hundred dollars? - the answer is leverage.

Leverage is the key to making money fast and building wealth.

For example deposit just $500 with a broker and they will give you leverage of 200:1 that’s 200 x 500 = $100,000 and your profits and losses are on this amount.

That’s risky you may say and you would be right up to a point - however keep these two facts in mind:

Risk = Reward

And

Taking calculated risks at the RIGHT time is the key to reducing risk and making money.

So how do you learn to take calculated risks at the right time?

The answer is to use forex charts. Look at any chart and you will see currencies trend and certain patterns repeat. You need to spot these patterns and trade them, when the time is right.

You simply lock in and follow the trends up or down and cut your loses quickly.

You can learn forex charting in a few weeks and then you can spend 30 minutes or so a day looking for opportunities and that’s it.

There is one fact you need to know - 95% of forex traders fail to make money!

So why if anyone can learn it is this so?

The answer is anyone can learn but most people simply learn the wrong material and also make the fatal mistake of thinking having a good trading method is enough - its not.

You have to apply your method with discipline, through losing periods to gain long term success. Most people fail due to lack of discipline, this is really because they follow other people or trade with their emotions rather than their heads.

Discipline though is a learned skill and if you have the desire to succeed you will learn it to.

So for 2008 stop dreaming about making money fast and do something about it.

If you learn currency trading the right way, you could create wealth that’s life changing - it’s within your grasp BUT are you ready for the challenge?

Great if you are! Welcome to the world’s most exciting opportunity to make money fast.

Many forex traders think that prices move to a scientific theory and that they have to predict to win at forex trading but this is one of the biggest trading myths and will ensure you lose. Read on and find out why and learn a better way to guarantee currency trading success.

The myth that forex prices move to a scientific theory has been spread by vendors who sell predictive trading systems that they say will make a trader rich and they appeal to greedy or naïve traders.

Of course they don’t work - why?

If prices could be predicted with scientific accuracy we would all know the price in advance and there would be no market!

Markets move because they are uncertain.

Of course if somebody really had found a scientific theory, they would be to busy making money to sell it to you.

Predicting forex prices is simply another word for hoping or guessing and if you base your forex trading strategy on that you don’t have one!

Famous Scientific Theories that Don’t Work

There are lots of scientific theories and many are based around the Fibonacci number sequence (which was actually devised to solve a problem to do with the copulation of rabbits in the 12th century) this is not to insult Fibonacci who was a brilliant thinker - but even he would be surprised at how his theory has been hijacked by the far out investment community.

Also in the hall of fame is Elliot and his Wave Theory (lets ignore the fact he died a pauper) and look at his trading system.

There is nothing scientific about the theory.

It’s all subjective! If a theory is scientific it should be by definition objective.

Finally we have Gann and natural law - well if he knew how the markets moved why did he lose all his money and have to sell courses to make a living?

None of the theories are scientific.

They appeal to the lazy, naïve and the far out crowd, who love them.

The problem is they don’t know the scientific theory of market movement and no one does - because there isn’t one.

Let’s get in the real word and focus on making money with a forex trading system based upon sensible logic

The Good News!

The good news is that human nature is constant and you can spot repetitive price patterns that can be traded for profit. You won’t win every trade - but if you trade the right set ups and execute your trading signal at the right time, you can win longer term.

Forex trading is simply a game of odds but that doesn’t mean you can’t win - you can and the rewards can be huge.

Trade The Reality and The Odds

The best way to trade forex markets is to use forex charts and look and act upon the reality of price change. A trader who uses technical analysis doesn’t care how or why the markets move, he is just wants to make profits when they do.

If you are looking for a level to hold or break wait for confirmation that it has first and go with the trend. Don’t anticipate - wait until you see the reality and then execute your trading signal.

So if you want to learn forex trading the right way and get good forex education, understand that trading is a game of odds not certainties - but if you learn to trade them you can make a lot of money.

Forex trading is easy to learn yet 95% of traders lose money. The reason for this is that forex trading is more about mindset than method. It’s the mindset of the millionaire traders that sets them apart from the losing majority. In this article we will look at how to get the right mindset for currency trading success.

The minority of traders that make really big gains all make their money with different methods - but they all have a certain trait that set them apart.

Let’s take a look at them.

Success comes from Within

If you think you can follow someone else and be successful your wrong - success comes from within and to be successful you need to accept responsibility for your destiny. You need to have a desire to succeed and a willingness to work smart to get the knowledge you need.

Now you need to understand this key equation:

Understanding + Confidence = Discipline

Most traders don’t understand that - if you try and follow the herd, the news, a guru or mentor you will never have the inner belief in the trades. If you understand what you are doing, you will have confidence - and confidence is required to apply your system with discipline through losing periods.

Keep in mind this simple equation!

Simple Forex Trading Method + Applied with discipline = Forex success

If you don’t have the confidence to apply your method with discipline, you have no system at all.

There are no secrets to forex trading that many people would have you believe - ALL The knowledge you need is available for you to learn but you need to learn the RIGHT knowledge and then apply it with confidence and discipline.

Most forex traders then that discipline is easy to acquire but it’s not - as you are confronted with total responsibility for your actions.

You have to confront an all powerful being (the market) and only you can be wrong and it’s all always right. You have to have the ability to create your own rules and have the discipline to apply them.

In 1983 legendary Richard Dennis taught a group of people who had never traded before a system in just 14 days and sent them off to trade.

The result?

They made over $100 million dollars in four years.

These traders were all taught the same system - but some scored far bigger gains than others and this is purely mindset as they had all been taught the same method.

You can learn forex trading and you can adopt the mindset of the millionaire traders but you need to do your homework, gain the right knowledge, to instill confidence and discipline will follow.

The big difference between the losing majority and the elite traders is a difference of mindset.

There are a lot of forex trading systems for sale and most are junk. You can find out if a system is likely to make you money by looking at one key factor which is the subject of this post.

Let me ask a question first:

Would you take driving lessons from someone who hadn’t past their test?

Of course you wouldn’t!

With forex trading systems however traders buy systems that have never been traded and then wonder why they lose. If you are looking for a forex trading system online they will all give you a track record that’s profitable. However the way to discard 95% or more of them is - to look for the disclaimer below or similar one - read it carefully:

“cftc rule 4.41 - hypothetical or simulated performance results have certain limitations. unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

What this means is that a vendor can publish or make up any track record he likes knowing the closing prices and simply put this disclaimer on it. Most traders never question it - buy the system lose and then wonder why they didn’t experience the same gains as the track record.

If you are looking for a forex trading system then always be cautious when you see the above disclaimer - you have to ask yourself the question:

If the vendor has not had the confidence to trade it why should you?

This is a very valid point and you need to use common sense.

In forex trading to many people are blinded by greed and see forex as an easy way to riches but of course with the rewards on offer its not that simple. You can make a lot of money but you need to get the right forex education.

The Route to Currency Trading Success

Forex trading requires you to do your homework - no one is going to make you rich only you can do that, so seek out sensible down to earth advice and learn it yourself and you can build your own forex trading system - which we will cover in our next article.

There are more than fifty currencies in use in our world, with four being the most commonly traded. People use them, in the form of cash bills, coins, checks, credit cards, bank cards, and other similar services, for different operations as they go about their daily lives.

With the introduction of online trading forex, you can now buy and sell money for free online through exchange brokers. Anyone including part timers can benefit from foreign exchange market, which is open round the clock every day of the week.

Money has evolved through many different stages in the past. From the first silver traded as to the first uses of paper invoices and receipts, the journey of exchange modes has been a long one.

Since the arrival of an era of gobalization, the major advances in technology helped bridge the gaps between one country and another. Globalization has changes almost every aspect of our lives..

In years gone by, when you had to exchange money you needed to be face to face with the other trader. But thanks to technology today, even the presence of currency notes is no longer necessary to make a trade. And that is exactly how the foreign exchange markets of today war using the internet.

As mentioned earlier, the foreign exchange market is open round the clock and seven days a week, so it is also known as the twenty four hour Interbank market. It was initiated in seventies and, with its continued growth, it is regarded as a perfect market and the largest financial market in the world.

Foreign exchange online trading is a game of numbers, with players comprising banks, financiers, speculators and investors), And like any other game, the person who is over greedy and focuses solely on possible outcomes is likely to suffer the greatest loss.

Play the Game well

You could choose from a vast number of currency pairs to trade with. To get a solid start, play with those that are already doing good at the start, just to be sure.

During the observing stages, don’t forget to keep an eye on the value of the currency opposite to what you are trading with. Never forget that when one of the currencies is rising,it also means that the other is, in comparison falling. Be vigilant to price changes. The graphs and charts can provide good information for these.

However, since the Forex market is open round the clock, pinpoint the best time to buy or to sell a currency. Buy at a low price and sell on top. No doubt you will lose out at times, but thats a part of any game isn’t it?

The key to success is to practice well, you need to be able to tell when you are on the right track and when you need to walk away. Different sources of the media like economic news papers, television programs and web sites are what can help you fine tune this skill.

The foreign exchange markets do not guarantee your riches. It is something that needs determination and planning, as do all trades.