Newsflash

There are many advantages to Trading FOREX as your main income generator. Let’s start by something that may be worrying you already. In the forex world, order execution is all-electronic and because you'll be trading via an Internet-based platform, instantaneous execution is routine. There are no exchanges,  no traditional open-outcry pits, no floor brokers, and consequently, no delays. The FX market offers the highest level of market transparency out of all the financial markets. Because of this, order execution and fill confirmation usually occur in just 1-2 seconds. Markets that do not offer executable prices and force traders to absorb slippage obviously compromise the trader's profit potential considerably.
 
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Nature of the Trading Business PDF Print E-mail
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Friday, 07 November 2008
Consider the following: As a trader you are in a business. Your strongest opponent has plenty of capital. He follows a program and he does it without emotion. He is totally aware of the fact that no one knows where the next tick will fall. Whereas he usually has good insights regarding the major forces that drive the market, he does not fool himself into thinking he can explain the vagrancies of price movement intraday or even from day to day. He knows that no one truly can.

The successful trader has learned his lessons by actually trading. This is a business driven by fear, greed, and selfishness, and very few worthwhile pointers are given out by the industry, other traders, or the myriad of so-called trading gurus who plague the pages of trading magazines and pages of their websites. The most valuable information is closely guarded and not often put in books or on web pages. Learning about trading is a ‘forever’ experience.

As the markets change and as we adjust to them, we learn. The learning is ongoing. It stops only when you no longer trade. During the time we trade we can always improve.

Trading is a great business for those who master it, and those who master it are traders who have mastered themselves.
 
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