If you want to become a currency trader and win the good news is you can but you must be aware that 95% of traders lose, because they fail to consider the 3 key elements we are going to look at in their currency trading strategies…

Here are the 3 key elements and you must have them all to win

1. Only You Can Make Yourself Successful

You will be bombarded with forex advice online from mentors and gurus selling sure fire systems and forex robots which promise you untold riches and you don’t have to make any effort! If you want to become a currency trader from home and win – ignore them.

Common sense tells you that you don’t get rich without effort.

Most of the systems sold online by vendors promote their products with back tested meaningless simulations and they mean nothing.

When you trade you don’t have the luxury of knowing the closing prices.

You need to work at the basics and get the right forex education to win.

You don’t have to work hard, you just need to work smart and you can get a forex trading system that can win together in about 2 weeks.

2. A Simple Logical Strategy Which Avoids the Myths

There are many myths that can put you off getting a robust winning strategy and they include the markets move to a scientific theory ( they don’t ) and the more complicated a strategy is the better it is likely to succeed ( the opposite is true) and there are many others. You need to understand and build a system based upon the following logic:

Markets are an odds based game and you need to trade high odds sets ups. You also need to keep your system simple, because simple systems are less likely to break in the brutal world of trading, than complicated ones.

Building a trading system is easy, the next bit is the hard part – master it though and you could be on your way to a triple digit annual income.

3. Discipline and Execution of Trading Signals

In forex trading you need to lose to win. You need to accept the market will make you look a fool and that you will face at times, weeks of losses. When you’re losing you need to keep executing your trading signals with discipline, through the losing period, until you hit a home run and clean up.

I know many traders who lose 70% of the time but make huge profits, because their discipline and money management is so good.

Forex trading is not about being right and being clever, it’s about the dollars you put in your pocket.

Remember …

Forex trading looks easy but its not and you wouldn’t expect it to be, with the rewards on offer which, can be life changing. However, if you are prepared to make an effort and learn currency trading correctly, focus on making money and you are disciplined at all times, you can make staggering gains.

Keep in mind the market doesn’t beat the trader, the trader beats himself. If you want to become a currency trader, keep this point firmly in mind and make sure you have the right system, confidence in it and the discipline to execute it and you can make triple digit annual gains.

Source by Kelly Price