Forex trading isn't easy and you wouldn't expect it to be with the rewards on offer but its not hard either - if you get the right forex education. If you look at the questions below and answer them correctly yes or no, you are learning forex trading the correct way and likely to be successful.
10 Questions you must answer NO to below:
1. I believe the more knowledge I acquire and the harder I work the more successful I will be.
2. Complicated systems are more likely to successful than simple ones.
3. The more news stories I study and trade the more chance I have of making money.
4. Day trading is a great way to make money.
5. Markets move to a scientific theory because human nature never changes.
6. You never go broke banking a profit.
7. You need to predict markets in advance to win at forex.
8. I can buy an e-book from a guru and just follow it they know best.
9. If I am always in the market the better my chances of success as I wont miss a move.
10. Buy low and sell high is a great way of making money.
If you agree with any of the above statements you will lose money.
They are all common forex myths believed by the 95% of traders who lose money.
If you answered no congratulations - you're learning forex trading the right way.
Now - here are 10 questions you should answer YES to.
1. I know that success comes from within and no one else can give it to me.
2. If I devise my own trading strategy I will acquire confidence and discipline.
3. Simple systems work best as they are more robust than complicated ones.
4. Forex trading is not a game of science it's a game of odds.
5. I need to run the long term trends to make money all short term.
6. All short term daily volatility is random and is un-tradable.
7. I don't predict market moves I simply respond to the reality of price changes.
8. I buy markets when they break to new highs because most big moves start from new market highs NOT market lows.
9. I trade infrequently and only trade high odds set ups.
10. I don't need to acquire lots of knowledge just the right knowledge then I am done.
Did you answer yes to the above questions? - then well done! Your learning the right forex education.
Now if you have got them all right so far, here is one final question to determine if you are likely to be a winner:
My trading edge is ( defined)
If you don't know what your trading edge is - you don't have one!
Your trading edge is the reason you will succeed and the vast majority fail.
Forex trading is all about getting the right forex education, ignoring the myths and focusing on the right information.
You need to build a system you can have confidence in which will give you the discipline to trade for long term success through inevitable losing periods.
Why Sigma
1. Lowest spreads in the forex market, No other broker offers such competitive spreads .
2. Sigma is the only broker that allows you to customize your trading account as you wish.
3. Maintaining the security of your money is a major objective at Sigma.
Our devotion to our clients has made our firm a respected industry leader, that we have a strong commitment to maintain a long term relationship with our clients.
4. Low margin requirement.
5. Full Hedging capabilities.
6. Sigma is a registered financial institution, and registered with the European registration authorities. The regulations set out into notice by these agencies are created to help ensure the safety of our clients’ deposits.
7. We maintain enough liquid capital to meet the needs of the amount required to cover all client deposits, potential shift back and forth in the firm’s currency positions and outstanding expenses.
8. We put forward our financial information to regulatory bodies on a weekly and monthly basis.
9. In addition to all the above, Sigma holds all deposits with only highly reputable financial institutions. We are appreciate the trust of our clients place in us.
Please be aware of brokers that guarantee the safety of your funds or that claim that your funds will receive special protections such as FDIC insurance. Nobody can guarantee profits in Forex trading.