Online Forex Trading Malaysia – Beginner Forex Traders Do Not Expect to Make Easy Money Too Fast in Trading Forex

September 3, 2010 by  
Filed under Forex Trading Market

Online Forex Trading Malaysia

Beginner forex traders always expect to make easy money very fast in trading forex online! This is one of the common pitfalls for beginner to forex trading to lose money in the volatile and fast moving online foreign exchange currency market.

After 3-day intensive yet comprehensive foreign exchange currency training in Kuala Lumpur, Malaysia, one of our Malay forex trader students is very exciting to create his wealth and achieve financial freedom. As he is very desperate in making money due to his current unemployment, the beginner to fx trading expects to trade for living and achieve wealth freedom in a few months time! How does he plan for it? This new currency trader is targeting 200% earning per month by trading currency!

After a month of live and trading forex online, I checked the trading result of this Malay student trader. And guess what? He is losing a lot of money in his fx trading account. According to him, because his capital is small, so he does not use the money management theory and risk management method in his currency trading. As his has yet to master the skills in technical analysis and start to profit small trades consistently, we just wonder how he is working toward his target of 200% per month earning… Online Forex Trading Malaysia

To get 200% in the volatile forex market is possible, but not to every forex trader, especially beginner fx traders! First, as a new currency trader, you need to learn a proven and tested forex trading system that have at least 70% to 80% winning chances over a long period of trades in foreign currency market. Coupled with a conservative & low risk money management, first the beginner fox trader can target to earn 10% per month first. For illustration, set the risk management level at 1%. Put very little trading time in lucrative currency market, such as 1 to 2 hours per day. Do only 1 currency trade based on a 70%-80% winning strategy. Out of 20 trading days, there will be 14-16 profits and 4-6 losses in the forex trading. After deducting the losing trades, you shall get around 8% to 10% profits per month! If a beginner fx trader can follow this simple trading plan, then you shall get consistency in trading forex and start trading for living plan…

In order to earn more, make sure the currency trader obtain the above consistency first. Then, perhaps the forex trader can increase his risk to 2% per trade. The result will be doubled. After fine tuning the discipline and mindset of a fx trader, the fx trader can perform more trades in online forex market and thus increase the monthly winning percentage, steps by steps!

Remember, all wealth is accumulated, with the ‘know how’ formula from the successful wealth master. Luck and fortune will not fall on everyone. 80% of forex traders lose money because of their wrong mindset and lack of discipline, not because of their currency trading strategies. The best forex training course shall consist of 3 important elements: a proven and tested forex trading system + money management/risk management + successful trader’s mindset… Online Forex Trading Malaysia

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