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Tag Archives: day trading system

5 Important Tips You Must Not Ignore When Selecting A Currency Forex Trading System

Selecting a forex trading system that is ill-suited to you as a trader can be detrimental to you. In fact, it can cause you to loose a big part of your capital. Ever heard of the novice trader who lost his capital within a few days of trading on a system that he thought was foolproof? Sad stories of ruin and bankrupty are rife from traders who did not even know what hit them, although they had faithfully followed their trading systems!

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Trading For A Living

Before you decide to become a professional day trader, consider that only around 11% of daytraders are actually profitable. This, along with the statistic that 70% of people lose money day trading, was revealed by The North American Securities Administrators Association. Having a solid strategy, day trading system, state of the art day trading software, and the discipline to learn the market that you plan on trading are vital to your success. In addition, not everyone possesses the timing, personality, and funds necessary to become a successful professional trader, yet many still try and jump in head first into one of the most risky careers out there.

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