FOUR WAYS TO BECOME A HAPPY FOREX TRADER

The world was greeted with global interest rate cuts from three of the world powerful nation on Wednesday October 8, 2008. I got series of messages calling for help and what to do when the trades just could not give good set ups with high volatility being experienced in the markets. So many had went on break on the forex market platform not because there is no money in their account but just because of FEAR. Some have lost virtually 75% of their hard earn money during this period in fact some of my friends are victim of this global money crisis.
But it is not only in this season so to say that people lose their money some trade with fear, greed and tension. So being happy in forex trading is what traders have been looking for. Many even run from trade platform to another in search of happiness in trading.
I want to use this medium to provide the recipe for becoming a happy trader. Without saying much let me just list it for you. They are the following:
1. MONEY MANAGEMENT
2. SPECIFIC ENTRY AND EXIT RULES
3. CHOOSING YOUR BEST CURRENCY PAIRS AND INDICATORS WISELY
4. HIGH TURNOVERS

1. MONEY MANAGEMENT
Never expose more than 205 of your account equity in trading. Maintaining at least 10% per trade will be great help particularly during this period of high volatility.

2. SPECIFIC ENTRY AND EXIT RULES
This is a thing traders ignore a lot particularly when a trade goes contrary to their expectations. Putting up cautions to the wind can be very damaging to both one's account and health. You should have a decent trading system that points to you the very specific ENTRY and EXIT RULES to follow before accepting any trade as high probability trade.

3. CHOOSING YOUR BEST CURRENCY PAIRS AND INDICATORS WISELY
Your trading system should give you clear selection criteria for both tradable currency pairs and best indicators for determining trends, confirmation and identifying overbought and over sold markets.

4. HIGH TURNOVER
Making a kill in one single trade or trading day, week or month will not make you a significant forex trader in the forex market. Many traders still don't understand this. With the small profit compounded over a month to a year, you can only imagine how rich you would have become overtime. No need to be in a hurry or to be greed. The power of compounding is very great and that is what top professional traders you also envy use in their favour to make significant impact to their favour and allow singing their praises.

You too can be a happy forex trader today if you will only obey this rules listed above. Also note that there is no ORACLE in the forex market. Just a measure of predictability and ability to stick to rules that matters.

This is to your trading success.