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Wednesday, March 3, 2010

Let's start with a shocking fact : 85% - 90% of retail currency traders lose money, and you will probably be one of them. Why? Firstly, because it is so easy to start trading online. Open an online forex account with a broker ( there are hundreds to choose from with more everyday) and you can be selling pounds and buying dollars with the rest of us. Secondly, forex offers the dream of giving up the day job, and trading for a living. Thirdly, the market is full of scams and is generally unregulated. Fourth you need to be disciplined to succeed with a rigid trading plan. Finally you need to have sufficient funds - this is the single most common reason most currency traders fail.
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