"Online Currency Trading Systems" has become a very popular web search too late.
Back in the nineteen eighties, a group of people with no trading experience took part in an experiment to learn currency trading in just 14 days. The result? They went on to make many millions of dollar bills. How? Let's take a look.
Group we referencing above nicknamed "the turtles" and the experiment was carried out by trading legend Richard Dennis.
Dennis wanted to prove that no matter what age, profession or educational background could learn to trade, and he set out to prove it.
The chosen people were a mixed group:
A female auditor, a security guard, an actor, a kid fresh from school and a number of professional card players, just to name a few.
Dennis taught them a simple long term trend following technique (essentially a breakout system) and hedge funds management. They completed their training and when up to make 100 million U.S. dollars in just 4 years. Dennis had been his point.
At this point you can ask yourself a question:
If it is that just to be taught how to trade and anyone who can, why 95% of traders lose?
The real lesson to take advantage of this article and make a part of your forex education are:
Anyone can learn to act - but few people have the mindset to make this potential for profit. Some more reason to make this clear.
The formula for foreign currency is easy and is:
Robust Logical Currency Trading System + Discipline to Follow = Finance Success.
Dennis the tempting trading was easy bit - carry it with discipline is obviously hard part. He taught them something more than a logical trading system - he taught them to think to take responsibility and have confidence in what they did, they would act with discipline through losing periods.
Many people have good currency trading systems, but lack the discipline to stay with them when we have discipline, you do not have a venue. You have to follow your trading signals accurately as your system tells you!
Most traders think they can follow one another or buy a Forex robot with a simulated track record and win, and they get wiped out.
They do not really understand what they did not have discipline and lose.
To get a technique (if you get rid of misunderstanding), you can get a simple system to trade together, which is tough and can win. Remember the trading system should be simple (like the one used by the turtles) as simple works best.
So you want to learn discipline and all those up and you are easy has not traded!
It is hard, but again it is a learned skill, and if you trust what you are doing you can trade with discipline.
Want to become as loaded as turtles?
Probably not, life is simply not like it - but there is a chance you may have and also, are you able to do successfully and earn a profitable return on your own level and for the effort you put into currency exchange trading can give you a great reward.
Anyone can do it. Sure it is a challenge - but it is a challenge you can go on, win and achieve currency trading success if you learn currency trading the right way.
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