The USD is heading for year low while I am writing this article. The long term speculator must be smiling watching their investment value double or triple in less than 1 year.
Currency market / FX is a gold mine for those who know the game well. As you are growing bigger, the chances for you to play long term strategy is increasing. The power is in your hand once you have bigger capital. The opportunity is always waiting for you to make money. Some of my friend want me to shares the secret of making money in FX. I gently reply them " If you have USD500K in the bank, I advise you take out USD100K for Forex and I will guarantee make money for you in less than 1 year." Most of them open the eyes and look at me. I smile back to them and reply "I know what you are thinking, let me explain how....", I continue "Are you looking for 3% per month, 5% per month or 100% in 3 months? (which is my best record...). Their eyes open bigger.
I show them the chart and start explain one of the methods I use. I also let them know the rules of thumbs in any investment, the higher the return, it come with higher risk. After my explanation, they agree with me but ask me why so many people lose money in Forex. I answer: "Simple, forex market is a game of emotion!" If you take out your emotion, you can clearly look at the big picture.
Anyway, Forex is not the game for those who are too greedy and treat it like casino. I also advise my clients don't open the trading account every week even I give permission them to do that. The more you look at your account, the more it will affect your emotion. Believe it or not, power of attraction is another element affectimg trader psychology. I also set rules for them to follow or else I won't accept them as my clients.
