Did you know that the forex market trades almost as much money every day as the New York Stock Exchange trades in a year!  Forex is an incredible market and you can make money trading forex.

If you are like me, you want to not only make money but make nice profits on a regular basis.  Read on and I’ll show you some tips on how you can make money trading forex.

1.  You must have a mindset where taking reasonable risks is acceptable.  Remember reasonable risk equals reasonable and sometimes exceptionable rewards.

2.   In order to make money trading forex you must protect your account fiercely.  This is where the importance of money management comes in.  By compounding your money with tight money management, your account can grow by leaps and bounds.

3.   Let me ask you, if you were given a trading strategy with a proven track record, could you trade it with discipline?  Although this is tip number 3, it’s probably the most important.

To make money trading forex you must find a system that you can stick to with iron discipline.  For many people, this would be a strategy that is simple with easy to find entry and exit points.

4.   Have you heard that it is best to trade on your own and in relative isolation?  I’ve heard this and I couldn’t agree less.

Trading can be a lonely process and support from a mentor and others trading your strategy is key.  I didn’t start to make money trading forex until I found a mentor who provided great support and a daily blog that gave feedback on the previous days trades.

5.   Many feel that achieving forex success is similar to finding success in other areas of life and business.  Work harder and profits will follow.  Wrong!
The harder you try and the longer you trade, the less success you’ll experience.  I’m done by breakfast every morning and have no desire to trade longer.  If I don’t see a trade during my preset trading window, then I close up the platform and I’m done for the day.

6.  Did you know that the estimate is that over 90% of traders lose their account in forex trading and lose it quickly!  That’s why I believe you must look at this as a business.  You will not make money trading forex if you “follow the herd”.

I know that you can be successful in trading the forex market by following the above tips and being patient.  Most forex brokers have free practice trading platforms.  Trade for free until you are consistently successful.

Patience is also critical in your trading decisions.  Wait until that golden setup takes place and trade safely.  I make money trading forex and hope that you can join the minority who find it rewarding and are successful.