What I’m driving at here is if you feel increasingly unable to make any progress toward your dream of becoming an independent trader, my advice to you right now, this very moment would be for you to STOP!

I know exactly how you feel, and that’s why I’m glad I found this frank, straightforward, and refreshing “no BS” video presentation that leads you to a ton of Dirt-Cheap Forex Training that will give you the upper hand when dealing with brokers… and a huge edge over all the other frustrated and clueless newbies out there.

So, sit back, relax, and see if you relate to what in my opinion is The Most Amazing Forex Story Ever Told. Make sure you watch the whole thing, because I think you’ll be floored by what’s revealed at the end.

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In any event, back on topic…  Forex Nitty Gritty could very well be your entry into taking matters into your own hands, particularly if your worried about equities, but at the same time unfamiliar with Foreign Exchange trading. 

Borrowing from my official Forex Nitty Gritty Review, the TRUTH–If you don’t really understand HOW to profit with Forex trading, or, if you are NOT WINNING on your Forex trades, you need to figure out WHY. You are doing something wrong–And we bet our reputation (and it’s a good one) that you’ll find in the Forex Nitty Gritty what you’re doing wrong and HOW to correct it. This isn’t a get rich quick, black box, automated program–No robots here, sorry. This is an absolute TAKE CONTROL OF YOUR OWN TRADING course.

You can read my complete review here. Thanks for visiting… See ya.

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The information is sourced from a suvey of over 500 experienced futures brokers querried about what, in their minds, caused most traders to lose money. Some of the items on the list are redundant, but these as you may know, bear repeating — thinking about repetition being the mother of skill. In any event, it’s a worthwhile read that serves as a reminder to avoid the pitfalls of trading at all cost… 

1. Many futures traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they overtrade and use their equity to the limit (are undercapitalized), which puts them in a squeeze and forces them to liquidate positions.

Usually, they liquidate the good trades and keep the bad ones.

2. Many traders don’t realize the news they hear and read has already been discounted by the market.

3. After several profitable trades, many speculators become wild and aggressive. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail.”

4. Traders often try to carry too big a position with too little capital, and trade too frequently for the size of the account.

5. Some traders try to “beat the market” by day trading, nervous scalping, and getting greedy.

6. They fail to pre-define risk, add to a losing position, and fail to use stops.

7 .They frequently have a directional bias; for example, always wanting to be long.

8. Lack of experience in the market causes many traders to become emotionally and/or financially committed to one trade, and unwilling or unable to take a loss. They may be unable to admit they have made a mistake, or they look at the market on too short a time frame.

9. They overtrade.

10. Many traders can’t (or don’t) take the small losses. They often stick with a loser until it really hurts, then take the loss. This is an undisciplined approach…a trader needs to develop and stick with a system.

11. Many traders get a fundamental case and hang onto it, even after the market technically turns. Only believe fundamentals as long as the technical signals follow. Both must agree.

12. Many traders break a cardinal rule: “Cut losses short. Let profits run.”

13. Many people trade with their hearts instead of their heads. For some traders, adversity (or success) distorts judgment. That’s why they should have a plan first, and stick to it.

14. Often traders have bad timing, and not enough capital to survive the shake out.

15. Too many traders perceive futures markets as an intuitive arena. The inability to distinguish between price fluctuations which reflect a fundamental change and those which represent an interim change often causes losses.

16. Not following a disciplined trading program leads to accepting large losses and small profits. Many traders do not define offensive and defensive plans when an initial position is taken.

17. Emotion makes many traders hold a loser too long. Many traders don’t discipline themselves to take small losses and big gains.

18. Too many traders are under financed, and get washed out at the extremes.

19. Greed causes some traders to allow profits to dwindle into losses while hoping for larger profits.
This is really a lack of discipline. Also, having too many trades on at one time and overtrading for the amount of capital involved can stem from greed.

20. Trying to trade inactive markets is dangerous.

There are more rules to consider specifically for Forex Traders. If you are seriously in a learning mood, head on over to The Forex Nitty Gritty; definitely a preferred site for learning Forex.

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We invite you to check out our review of the Forex Nitty Gritty on our Forex Beta Testers Reviews Page and discover some basic facts about what’s being called… “The best basic Forex course available at any price.”

Speaking of basic facts, TRUTH is if you don’t currently understand how to make money in Forex, or, you’re trading Forex and losing your shirt, you need to take a step back and find out why. We strongly believe that what you will find in the Forex Nitty Gritty is a brilliant way to finally uncover “the mystery” behind successful Currency Trading and how to avoid the pitfalls. In fact, we’ll go out on a limb and say that FNG is an absolute godsend to frustrated Forex everywhere.

But of course, you can be the judge of that. Continue on to read our Forex Nitty Gritty Review.

As always, thank you for visiting Forex Beta Testers.

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The story that comes to mind is the one about Colonel Sanders — How he tried a thousand times to come up with the one fried chicken recipe that could make him a fortune. Just think if he had gotten discouraged and quit. Well, suffice to say, there wouldn’t be any KFC restaurants in China today.

Unfortunately, we Forex Traders don’t have the luxury of failing a thousand times. On paper, yes but the fact remains that amateur Forex Traders are blowing out accounts at an alarming pace. One reason for this is something we’ll refer to as the method complexity syndrome. Traders will research a trading method, buy it and the minute they receive it, they fast forward to what they consider to be the guts of a method and completely ignore the most important facets of trading, especially risk management, discipline, and psychology.

It’s most unfortunate. They’ll jump right into the core of the method looking for that great big, mysterious, slap-your-forehead, jaw-dropping “secret” which will suddenly unlock the mysteries of Forex. Much too often traders find themselves miffed that the so-called “guts” of a method reveal nothing but something they already knew about, but did not practice. Then take it a step further, amateur traders will often dismiss a method as being too simple.

On the other hand, amateur traders will look for that complicated formula; a cryptic combination of indicators and technicals that all they discover are a set of simple indicators working together in an uncommon way. Perhaps not knowing any better, they become disappointed or frustrated, because they wrongly assume that any method must be complex (Can’t possibly be SIMPLE!) So, they put it on a shelf or write the method off as “not complicated” enough, believe it or not.

For the ameteur trader that’s a fatal flaw. Most will then repeat this cycle and will never take the time to learn and understand the full scope of trading discipline.

Please don’t make this mistake. Understand that most trading methods out there are not complicated. They meld a smaller set of rules together in a simple manner (simple enough that anybody can apply them) but apply them in an uncommon way. Complex systems are for computer geeks and big banks — if you can’t understand something, you can’t possibly apply it.

The upshot is never skip ahead when learning a powerful new method for trading Forex. Make certain you learn the setup, entry and exit rules (which should exist) so you’ll learn how to protect your trade with stops, and that you learn how to apply your method in a timely manner (albeit hourly, daily or weekly) to get the most out of the method and to learn how all facets of the teachings work in synergy to make you a better trader.

Keep in mind, simple but powerful — Using just a few indicators or rules applied in a non-textbook approach is the key to getting an edge in the markets.

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Well, we here at Forex Beta Testers sincerely hope you are a successful trader. Whether you are considering trading Forex for the first time or, you’ve been around the block a few times, we believe there is a more consistent path to Forex profits.

That being said, we took the time to review a most impressive new program called what else, The Forex Nitty Gritty. Considering the fact that 95% of Forex traders actually lose money (incredible as it may seem), we think it’s high time someone expose the truth about the Currency Markets. It’s now in you hands…

Get the Skinny on the Forex Nitty Gritty

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Bill squeezed all the Forex Basics he could come up with into a digital training course that’s better than most high end courses out there. Because it’s digital, you can watch it INSTANTLY… and the price, well, you’ll be amazed.

Hundreds of beginner Forex traders are out there right now “doing it”. They’re trading the markets the INDEPENDENT way. Is there any other way? Yeah, the uninformed, uneducated way–Boo! Anyway, these new Currency traders are confidently making their own trading decisions and they don’t have to listen to anybody but themselves. So if you’re on board yet, just take a quick look at Bill Poulos’s Forex Basic Course. We think these methods rock and by the way, you don’t have to be a beginning trader to take advantage of these tested strategies. Go get ‘em!

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Speaking of value, have you scrutinized your Forex Broker Lately? Oh, wait a minute… broker… Did I say a dirty word? No, not necessarily. There are some great Forex Brokers out there, but as in all business endeavors, you must do your due diligence.

So what we’re going to propose here today is an easy way to shake out the good Forex brokers from the lowsy ones.

Do you know the difference?

You know, many Forex Brokers will not be prepared when you grill them on certain questions — Questions pertaining to pip spreads, order execution, and trading platform just to name a few. Well, thankfully, the good folks over at Forex Nitty Gritty know a thing or two about brokers and have prepared a handy report for you that’s free for the asking when you become a member. It’s called the Forex Broker Scorecard and it was designed to help you find only the most honest, ethical, and straightforward Brokers the world over.

Even if your a seasoned Forex Trader, the report will help you compare how your current broker stacks up to the others. Should you keep using them… or should you run in the opposite direction as quickly as possible? It’s priceless information.

This is just one of the many facets of Forex Nitty Gritty that we found quite useful and by the way, with the membership priced at practically next to nothing (compared to the wealth of information available to members), well, maybe you can understand why we can’t post the price here. We can pretty much guarantee though, it’ll be worth the price of admission.

All the best and trade well!

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Forex Beta Testers have implemented a simple set of rules to follow when Evaluating a Forex Trading Method, course, system or program and today, we are happy to share them with you. First and foremost, any Forex trading method must be complete. All that means is, the trading method must teach you the following:

1. Conditions

The precise conditions under which a Forex trade can be entered into. Simply known as the setup conditions; technical indicators (usually) that a Forex trade possibility exists.

2. Entry Point

The exact point at which a Forex trade can be entered–the price. This refers to the entry point (or entry rules) and means the price at which a particular Forex trade trade would be executed.

3. Rules

Rules for establishing initial and ongoing stop loss marks for an open Forex trade. As part of Risk Management (an absolute must), especially in Currencies, to have stop losses always in place. If a Forex trading method or Currency trading system doesn’t teach or define these, by all means, start waving the red flag. The implication is that without effective stop loss strategy one can easily get wiped out in a single Forex trade if the market goes the opposite way.

4. Exit Strategy

The exact points and effective strategies for exiting Forex trades. We can’t tell you how important it is that a trading method teach a strategy for exiting Forex trades. This is certainly a handy tool in your arsenal when a Forex trade has become profitable. The point being; not letting the the psychological aspect of trading get the better of you–Hint: don’t get greedy.

Adherence to these four elements can help Forex traders minimize risk as well as the Optimize Forex Ttrading process. Absent of these Currency trading methods, traders will be exposed to steep losses or end up taking poor positions. 

Once implemented, these rules will help protect traders both in evaluating and executing methods when trading Currencies.

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Similarities between Forex and stocks are such that charts can develop repetitive price trends giving the enlightened trader significant profit opportunities on a more consistent basis. Call it technical trading if you will, but it’s safe to say that traders with a strong trading discipline, superior trading methods and most important; sound money management skills will enjoy a distinct advantage in the currency trading arena.

We would also like to point out that one of the reasons Currency trading has become so popular is the concept of leverage. Through leveraging, Forex enables traders to take positions with a smaller account size than would be required for trading stocks. Since margin requirements on Forex are smaller than for stocks, the reward ratio for profitable trades increases, as well as the risk. Case in point, a Forex broker might offer at least 100:1 leverage, which is adequate in order to generate significant profits while maintaining sound risk management. On the other hand, some brokers offer up to 400:1 leverage–but the risk/reward ratio isn’t in favor of the trader.

So, what can be learned from this synopsis becomes quite clear; leverage, in conjunction with reduced margin requirements and high profit potential are the drivers behind the rapidly expanding Forex market. But by the same token, Forex traders, especially beginners, must become well-versed in methodology and practice. We believe that’s the key to our success.

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