Make Money and Succeed in Forex Trading

by Joon Trader

Make money and Succeed in Forex Trading
To a newbie learning Online Forex Trading, it looks very simple in the beginning. Take currency pair EURUSD for instance, if you bullish on Euro, simply place a Buy order. Bearish on EUR, just short it. So easy, you may ask? The truth about Forex Trading is that it is a professional activity that not many traders will succeed. This being the first article on my Blog, I will just go through a few very straight forward pointers on how to consistently generate Forex pips. In the world of Forex currency trading, many newbie traders believe that Forex trading software or system that contains rocket science is more likely able to make money. It may be true, but how many of us will be able to find such a system or methodology? Why not just spend time and money to learn systems or trading methods that are simple but works? In the Forex currency trading, the fact is simple systems just work best. Simple systems are more robust and easier to trade as you understand the logic and can therefore follow it with confidence when you are in a losing streak. I personally feel that it is much simpler to trade with the trends rather than the ranging market. For many successful traders, once they are happy with a system or methodology, they stick with it. Remember, you only make money trading Forex, and not having 100 systems or trading methodologies but trading none of them. In Forex trading, most traders succeeded primarily due to good money management. So long as your system or trading methodologies has a positive profit factor coupled with proper money management, you will succeed in the long run.