Forex Trading Insight from Nial Fuller...

In a recent article by Nial Fuller, he discusses 4 very important points that can help you with your trading right now.

The 4 points are as follows:

1) Successful Fx trading is defined by consistency...In this point Nial talks about how you don't have to be a "pro" to trade successfully, you can simply make consistent money each month to supplement your income...this is technically successful trading.

2) Trading well should be effortless...here nial fuller talks about risk mainly, and how if you aren't risking too much per trade you won't struggle.

3) You must accept losing...in this point Nial discusses how many traders are afraid to lose and try avoiding losses. When you try to do this you actually end up losing more. Losing is part of the game, so accept it early on.

4) Trade like a sniper...Nial discusses why waiting for the "right time to strike" in the market is so very important to long-term Fx trading success.

If you want to read the article for yourself, here is the link: 4 Golden Nuggets of Forex Trading Insight from Nial Fuller

Chances of Success as a Forex Trader?

So just what are your chances of success as a Forex currency trader? In Nial Fuller's newest article over at learn to trade the market he answers this question in a very direct and refreshing manner. Most people say that only 95% of traders make money in the markets. But, according to Nial the percentage of traders who actually make money over the long-term is probably much higher, more like 20-30%. This is because people often confuse being a "professional trader" and "making money" as the same thing. The truth of the matter is that you can make money as a part-time trader on a consistent basis, and many more traders do this than trader who actually make it to professional status. So, the take away point from Nial Fuller is that the aim of a beginning trader should be to make money each month, but not necessarily be a "pro-trader" right out of the gate.

How Should You Set Up Your Forex Trading Room?

It’s very important to your long-term trading performance that you have a proper area in your house to trade from, because your environment has a direct influence on your mindset, and your mindset has a huge affect on your overall trading performance.

The above excerpt was taken from the most recent article over on Nial Fuller's website. The article does a really good job of telling traders how to best set up their trading room with whatever living situation they might have. I felt this article was very well timed, as I have been wondering how best to set up my trading area for a while now, I've sort of been waiting for this article for quite a while from Nial. I suggest anyone check it out if you need any ideas or help in setting up your Forex trading room.

How Does a Pro Trader Actually Trade?

Nial Fuller's recently article "How Does a Pro Trader Actually Trade?", provides a very insightful synopsis of what pro trading is all about. If you are new to the world Forex, or to trading in general, you should probably check out this article as it really discusses some points that most people simply do not consider when they being trading the markets.

Nial Fuller really does a good job of explaining his insights into the world of an experienced trader, it is quite apparent that he has been around the proverbial block for quite some time now and really knows what he is talking about. I look forward to his trading articles each week as they have really helped me in all aspects of my trading; from the strategy aspect to the emotional aspect.

The Fakey Setup

Here is a cool video on the fakey setup by Nial Fuller, it talks about how to trade the fakey: (click one of the links for the video)

"The fakey setup I traded in this video is a contrarian approach to the markets. While we are trading a contrarian setup we still want to trade the forex fakey in the direction of the dominant trend. Essentially we wait for a false break to occur and then trade back in the direction of the existing trend.

The reason the fakey is contrarian is because you are basically doing the opposite of what most other traders are doing. Instead of trading the obvious looking breakout as most amateurs do, when trading the fakey you wait for the breakout and then take a trade in the opposite direction but WITH the dominate higher time frame trend."

Pin Bars Working Great Lately

Pin bar setups have been working very good lately on the daily and 4hr charts. I have recently noticed and taken some excellent pin bar trades on the GBPUSD, USDCAD, EURJPY, CADJPY, and GBJPY. There have been some other ones too, but these are the ones I remember. I think it seems like if you take pin bars in the midst of an obvious directionally-biased market, they seem to work quite well.

If You Want To Learn To Trade...

If you want to learn to trade forex effectively in a no-nonsense, straight-forward and honest manner, and learn a trading strategy that has been used by many traders successfully for centuries, you will need to learn how to trade with price action.

Price action gets to the "heart" of the market, so you are able to get a clearer picture of exactly what price is doing, has done, and may do in the near-future. Many traders get caught up trying to over-analyze lagging indicators and / or robot trade systems, these methods of trading are simply a waste of time because they do not teach you how to effectively analyze a raw price chart or understand what really makes the markets move; price action.