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Sunday, November 8, 2009

Three thing about Currency Forex Market Trading your Broker is not telling you

By Rex Forte

Have you ever wondered when talking to your Currency Forex Market Trading Broker, whether by e-mail, phone, or fax that he or she is holding something back? I know I have felt this way a couple of times now. The reason why your instincts are telling you this is because your broker is holding back from telling you everything.

1. Unfortunately for us traders, the fact is certain people will definitely benefit from your trading on the currency exchange, mainly the Forex brokers. They need you to begin trading as much and as soon as they possibly can.

90% of all Newbie Forex Traders will end up i failure because they refuse to follow and educate themselves on a proven Currency Exchange system. Because of this it is in the Brokers best financial interest to get you to start trading with real capital as soon as possible.

The Forex brokers have spent millions to get you interested in this market showed that you will start trading and basically give them your money. They will make their money here you can be sure of that.

2. I was told by my first Currency Forex Market Trading Broker that is was completely simple, and All I had to do was press a few keys and read a few charts. He even mentioned something about following his successful fundamentals that the broker called technical analysis.

Brokers are constantly forcing this idea of Technical analysis like it is candy to a baby. Technical analysis by itself with some capital management skills will be the path to your success, from what the broker tells you. This theory is flawed because you need much more than this to become successful.

You will never be told this but to become successful in the Forex market you need to completely understand that the Currency Prices are influenced by certain movers and drivers.

Movers and Drivers can be things such as a Country's political views, political unrest, politcal public relations and the overall appreance the country has from the rest of the worlds point of view.

3. When your currency account Broker tells you that using Forex Trading Software is not a good idea, than what he or she is actually trying to get you to do is fail much sooner. Most Forex trading software has been thoroughly tested and tweaked to make your trading experience much more accurate and successful.

You can become much more successful and do it much faster by using Currency Exchange Demo software. This software is included in most quality Forex Systems. It will report to you in Horizontal Charts and show you all kinds of Candlestick information. A wise trader will use these charts to their advantage and learn to become profitable faster.

I'm not saying all Forex brokers have ill intentions towards us as investors, but it seems that the cards all fall in their favor. By paying attention to these tips and getting a competent strategy system, a newbie investor can become extremely successful in the Currency market - 23199

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