Many have tried, many have failed. It suckers in neophyte traders with promises of riches and then malaysia gives them a beating. Although, the biggest competitors in Forex are the major banks, it is ourselves and our need for instant gratification and action that truly destroys us. Almost all wannabe Forex traders are day traders. They love the video game nature of making trades and earning money at lighten speed. What they foolishly do not understand is that the banks and their quants who forex running mathematical models to pick trades have the successful advantage when it comes to intraday trading. The newbies are just the fish who eaten by a larger animal. Thank you for playing! Like most losers forex Forex, new traders use a discretionary style of trading. They are trader based on gut instincts and fear, while the smart money uses objective analysis and models to make trades. Often times they use computers that automatically open trades as to remove any human subjectivity, fear and greed from their trades. Simply said, Forex is almost an impossible trader beat game when you day trade. The biggest winners both professionally and as hobbyist are traders who make trades on a larger time frame. These are traders who hold their positions for 1 to days are more. Forex has a tendency to trend more often than any other financial market and these trends can last for years. While the new traders waste time and freely give away their money playing the day trading game, the smart money is racking up pips over the long term. Who do you want to be, a short term player with a low expectation of winning or a long term player? I never use a chart that is smaller than the daily bar chart, this allows me to avoid all the trader that happens when the banks go to war on smaller time frames. I try to avoid the banks intraday battles and instead I ride the successful trend waves that have less risk. As a losing day trader, I was in front of the computer all day, but as a long term trader I check the market not more than 3 times per day. As you can see, day trading Forex is a losing proposition. New traders will find greater success trading long term. Forex is a long term market where currency pairs can trend for years. The instant gratification and gambling nature of new traders is what most kills them. They are more interested in making trades than making a profit. Do what I say and you will earn more money in Forex. Enter your email address to subscribe to this site and receive notifications of new posts by email. How I Lost USD1, In One Malaysia. Forex Scalping For Beginners. All About Guerrilla Trading. Theme by Press Customizr. Home Forex Trading In Successful About Me Contact Me. Forex Broker Review XM. Leave a Reply Cancel reply. Subscribe to Forex Malaysia Enter your email address to subscribe to this site and receive notifications of new posts by email. Archives May March January December Forex February Categories Broker Featured Forex Malaysia Scam Tips. Forex Trading In Malaysia Maklumat Penting! Adakah Forex Dibenarkan Malaysia Malaysia? Top Forex Brokers 1. Bank Negara Malaysia 2. Monetary Authority of Singapore MAS 3. The Australian Securities and Investments Commission ASIC.