Lyingtotellthetruth

A Passion for Healing.

Live Forex Trading Rooms Demystified

The Forex market is huge, in fact, the biggest financial market on the globe trading approximately $3 trillion in transactions per day. The advent of the internet and the capacity to trading Forex online has opened up Forex to an even broader community of home based traders. The barriers to entry are low, accounts can easily be opened and money deposited into an account in a short period of time.

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A lot of “new to the market” traders can become overwhelmed with the trading courses, books, tapes, videos, DVDs, boot camps, seminars, free introductory offers and more that are out there. Most experienced traders know the “traders cycle” in the marketing machine all to well when starting out as well as the way some systems are portrayed as providing the holy grail of trading, unrealistic profits even downright lies.

Some traders after a while give up and move to other trading systems to save a losing account including Forex robotic systems. These systems commonly referred to as expert advisors or EAs provide what seem a relief from the tiredness that information overwhelm has created in the traders mind. A busy schedule, combined with a dwindling broker account balance gives hope to the ever increasing disillusionment of the trader. The known fact is… A LARGE PERCENTAGE OF TRADERS LOSE MONEY. Ive placed that in capital letters as it appears time and time again which many trader never seem to grasp… the grasp of reality tends to not bite until the account is decimated and the riches that were advertised fail to materialize.

At the end of the day trading Forex is not easy… just think of it that you are trying to grab money off one person (worse still playing poker with a broker) in the hope to profit… all under the guise of being hidden behind an online trading platform. Try walking up and down the street playing “hot potatoes” trying to grab money out of peoples hands and see where it leads… you’ll soon see that this game is similar, where your view begs to differ from the person you transacted with and you are hoping that you got it right and they got it wrong.. after all… money doesn’t come from thin air… its come from the pockets of someone’s trading account or worse still your account… move to the casino and try playing against the Casino and see where you get… thats similar in some cases where brokers are market makers and you are effectively playing poker with the Forex brokerage company.

All brokers provide free software such as MetaTrader 4. MT4 or soon to be MetaTrader 5 (MT5) is a standard online Forex trading platform issued by brokers. The system is reliable and has been around for some years with generally continuous improvement and upgrade each year. MT4 is very simple to use and provides all the tools a Forex trader needs including technical analysis capabilities, online charting, Forex news, rates, etc.

But having a good trading platform and broker account flush with funds is not a panacea to having an ever growing online Forex broker balance, one has to have a system to execute trades and be disciplined when to cut a loss or take a profit.

Online Forex trading can be rewarding. You can be sitting in a hotel lobby in the Philippines, Thailand, Australia, London etc on the beach or at home for that matter. Armed with a good trade system and online Forex broker account, free software… the currency market is all yours. But are you prepared to forgo lifestyle trudging through books, tapes, DVDs and courses for years on end or do you want to get up and running right now?

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