101 Forex Currency Trading: My Journey as a Part-time Forex Trader
Posted by Timothy Oh
What is Forex Currency Trading
For those who new to Forex, Foreign Exchange or simply known as Forex or even FX is the buying of one particular currency and selling of another currency at the same time. In simple terms, you are like a “money changer” when you trade forex.
The forex market is the world’s largest financial market with an average transaction of USD 3.8 trillion everyday and is constantly increasing. Unlike other financial market, forex market is the most liquidity market to ensure no market manipulations and better trade execution.
Forex Currency Trading System
For me, trading in forex currencies is without a doubt, one of the most profitable and lucrative financial instrument. Successful traders can sometimes earned you a yearly ROI (return of investment) more than 100% based on only 3% of the capital per trade by following the right forex trading strategy. It must be simple to trade yet highly profitable.
From my trading experience, a successful Forex currency trading system able to deliver these 5 simple things:
- It can either Manual system or EAs as long as it is proven profitable (Updated on April 8, 2013) (My previous statement which now I think back is not true anymore; published on May 4, 2012: It must not a robot. (Just think with common sense: if forex robots do make big money, there will no poor people in this world)
- Have a trading track records at least 10 years. (to prove that it is CONSISTENTLY profitable regardless any market conditions)
- Best if the systems do not reveal stop loss. (to avoid stop hunting by market maker brokers)
- Do not affect your quality of life (do not require much time to stick to computer chart all day long or night-owl trading)
- Do not cause stress or emotional roller coaster. (make big profit and then suffer big loss the next trade)
As simple as that, if you are able to follow this type of system with discipline and consistently, then you are sure on your way to become a successful and profitable forex trader.
101 Forex Currency Trading Blog
The main reason I’m here is to share my trading experience, wisdom or even mistakes, so that you can learn from it and shorten your journey to earn a consistent income from forex market. Turn your previous forex losses into the profitable opportunities by following my 101 forex currency trading blog and learn the proper forex currency trading mindsets that separates the winners from the losers.
Forex trading isn’t difficult, with the right trading mentality and proven profitable forex system, you can become a successful trader and earn a decent monthly income from forex market.
Did you know that Japanese housewives is actually the largest population of the retail forex trading? They have been very wise and enterprising in grapping the lucrative opportunity that forex currency trading offers.