Forex Day Trading System - The Secret to Forex Trading is Proven Strategies

Have you been trying to be successful in forex day trading and are not having much success? Have you been wondering what the secret is to forex trading and some proven strategies?

If there is $3.2 trillion traded daily in foreign currencies and only 10% are successful, who are these people and what are they doing correctly that 90% aren't? That is very simple: They have a proven strategy. None of these people got rich by "flying by the seat of their pants". None is successful by trying this one day, trying that the next and trying still a third method the third day.

If people and corporations have been trading currencies since the 1970s, imagine how many people have been making forex trades for 25, 30 or more years. Though many of the new young hot shots might consider these guys "old school", perhaps that's true but if they have a proven strategy and have made millions, they have a method worth looking at.

How does someone develop a strategy? Here are some suggestions.

o They follow the trends

o They make graphs that pinpoint highs and lows over a specific period of time

o For example, some use breakouts

o Some use a 4-week calendar

o They don't enter rallies, they start rallies and get out while there are still profits to be made

o They don't wait and hope to recoup their losses

o They "listen" to the signals and know when to enter and exit

o When they make a mistake, they learn from them

This is not in anyway to discount the new guys that have made a fortune in currency trading. In fact, many of them have strategies that are well worth looking at and are happy to share these with you in courses taught on-line.

When determining whose classes to take, practice common sense.

o Make sure they're using their own strategy and winning

o Be wary if someone "guarantees" a certain amount of income in a short period of time

o Read the blogs and forums

o People will share their experiences about classes they've taken

o You know when you're reading something that's "too good to be true" - listen to your gut

Whether you decide to learn by taking a class or following a mentor who's been in the business for 25 years, you'll want to develop a forex day trading system, and learn from someone with a proven strategy.

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