Mark Thomas offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - Article Marketer (www.ArticleMarketer.com) has distributed this article on behalf of the author. Article Marketer does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: Profitable Currency Trading: The 3 Pillars of Success Author: Mark Thomas Category: Currency Trading Word Count: 419 Keywords: profitable currency trading, trade forex Author's Email Address: [email protected] Article Source: http://www.articlemarketer.com ------------------ ARTICLE START ------------------
The basis of profitable currency trading is developing good skills and working towards a long term plan. While there are many different ways to trade forex, and various strategies that can be adopted to determine trade opportunities, having a clear direction will present the best chance for success. People approach things in all kinds of ways but I've found that most successful traders posses three common attributes that lead them to profitable currency trading. I like to call these three key things the "pillars of success" as they are the base from which a genuine trading career can develop. These three key things can be briefly summarized as follows: Thirst For Knowledge The more you can learn about the forex market then the more confidence you will have when you trade it. Too many novice traders get underway before they have really gained the necessary level of skill and knowledge. There is really no excuse not to learn as there is a huge amount of information that is freely available on the world wide web. You might also need some more paid learning or coaching as you progress but at least there is plenty of information which you can access easily when you first get started. Remember that learning should not be a one-off thing either - you should always be looking to educate yourself as you move forward. Plan Ahead Planning is often ignored by novices in their haste to start profitable currency trading. They have no clear goal, or even a plan that they are working towards, and this almost inevitably ends in failure. A trading plan provides the framework upon which both your decision making and risk management can rest. Take the time to develop a plan based on your specific goals, experience level, and bankroll. Set yourself conservative and achievable targets so that you have a clear direction. Make sure you that regularly review and adjust your plan to ensure that you take into account any change in circumstances. Discipline It is no secret that discipline is a critical component of any forex success. This can be shown in several different ways including making sure that you actually stick with any plan that you develop. Discipline can also be shown in maintaining a record of all your trades and staying with your predetermined targets or stops. This is often easier said than done of course so it is always worth keeping in mind. You also need to properly manage the inherent risk factors if you hope to achieve profitable currency trading. Mark Thomas is the creator of Trade on Track - a secure web-based application that allows traders to track, analyze, and improve their trading. Visit http://www.tradeontrack.com for more information on how to take your trading and profits to the next level. ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
