The Psychology of a Winning Forex Trader

Each and every day I'm contacted by traders from around the
globe and there seems to be a very common question floating
in the air, a question that if answered with any degree of
certainty could endow the inquirer with untold confidence
and success. The question is simple but it's implications
are powerful: "If I start trading Forex, what are the
chances that I'll succeed?"

If I answered this question by stating: "On average 80% of
today's Forex traders will succeed" you might be justified
in calling me crazy, however some 15 years ago one might be
inclined to answer with such bold figures. Certainly it
would not be uncommon for at least 50 to 60% of the chosen
few Forex traders to achieve success in those days. The
currency market was fresh and opportunities were wide open.
Daily price movements were somewhat more predictable and
the competition was not nearly as aggressive as it is today.

As time moved on from the late 80s, early to mid 90s and on
up to our Present day the success rate dropped drastically
as the Forex market progressively became saturated with day
traders; this in turn made for a more unpredictable trading
environment. The "white noise" we experience intra-day is
in part the efforts of the masses, each trader grabbing at
what they can to secure their daily profits. However, the
cold reality under present circumstances is that less than
10% of today's Forex traders succeed in achieving
consistent profits.

Let's take a closer look at the real ratio of winners to
losers. You see, it's important to understand that this
isn't a luck of the draw situation. When you look at
figures like 1-in-10 there is certainly much more than
meets the eye beneath these numbers. Let's explore this
thought further.

If you take 10 traders who have each asked the question
"What are my chances at succeeding in Forex" and place them
in a trading room together for any length of time, you
surprisingly will not end up with 1 winner and 9 losers.
The same holds true if you conducted this experiment with
100 traders, or even 1,000. But how can this be the case if
the odds of success are 1-in-10? That is a very good
question as within the answer lies one of the keys to your
trading success regardless of which system, method or
school of thought you subscribe to.

You see, the 5 to 10% percent who are succeeding
consistently are not asking self-defeating questions like:
"What are the chances that I'm in the losing percentile?"
and alternatively the 90 to 95% percent who lose on a
regular basis are left completely bewildered at where they
could be going wrong; constantly asking: "Why do I keep
losing in Forex?" and inevitably receiving rather
discouraging and uninformative answers. The answers may be
"Because you're not good enough" or "You're not making
enough pips per month", these answers do not help in the
least as far as taking a hold of your financial destiny as
a Forex trader. Clearly a shift in thinking needs to occur
for fear that one might be left with the majority of those
who are unsure of how to consistently succeed.

Transitioning into the winning crowd involves adjusting the
questions you ask from self-defeating questions to the sort
of questions that will inspire you to find solutions,
methods or systems that utilize your strengths. Rather than
getting discouraged when you suffer loss, simply refocus
and center your thoughts on a new empowering question. For
example try not to ask: "Why do I keep losing these
trades", rather try asking: "What can I do to start
winning". They may sound like similar questions however the
answers you receive will always be drastically different,
and without a doubt these questions and answers will play a
lead role in defining the destiny of your financial future
as an investor. An empowering psychology is at the heart of
every great Forex trader.

The category we find ourself in more often then not is self
inflicted simply due to the fact that we are in the habit
of asking the wrong sort of questions. Don't underestimate
your ability to find the answers you seek simply by asking
positive questions and never fail to realize that this tool
alone can play a large role in helping you to take control
of your financial destiny.

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Ranked in the Top 10 by Google as an International Forex
Money Manager Aaron Stokes is a professional in the field
of managed Forex accounts with an average of 10% growth per
month on managed accounts. For details visit:
http://www.forex-cipher.com

Garden Improvements ‘Add Privacy And Value’

Taking out a cheap loan to pay for some improvements to a
garden could enable potential house sellers to raise the
value of their home, with the aesthetic pleasure, privacy
and protection offered by a well-developed garden often an
enticing proposition for those looking to buy a property.

According to comments from a partner of chartered surveyors
Cluttons, while putting money into your garden solely for
the purposes of adding value to a house is not that common,
it would more likely be used to offer privacy or block out
eyesores, especially in areas of the country where gardens
are small and properties and buildings are close together.

"For example, if you've got an ugly block of flats behind
you, or if you've got another house really, really close to
you looking into your garden, it's quite nice to do
something that's going to take your eye off that and give
yourself some privacy from whatever's going on behind, [by]
maybe planting a tree or something like that," said
Alasdair Mackenzie, the Cluttons partner in charge of sales
for Clapham and Battersea.

While a cheap loan could be a good way to fund any large
developments to a garden, any money borrowed should not
just be focused on the back of the house. Presentation of a
home, especially when it comes to making a sale, can be
crucial, with people "always quite keen on how their house
looks from the outside", according to Mr Mackenzie.

Crucial in any changes to gardens or even the interiors of
a house, Mr Mackenzie said, is the need to create a feeling
of space. The partner suggested that it is not necessary to
improve the actual space that is on offer in a garden,
rather enhance the perception that there is space beyond
the kitchen window, through choosing the right flooring to
match the garden, something that could be paid for through
a cheap secured loan.

"Very occasionally people will do their garden, if it's
quite small, in a way that it blends in with the house. For
example, they may have a wooden floor going on to decking
or a slate floor with a slate patio beyond it. That's quite
good because it gives more of a feeling of space," Mr
Mackenzie said. He also added that some people like the
idea of bringing the garden into the home, using
concertinaed glass doors that offer a view on to the garden.

Any homeowners that are considering splashing out on any
improvements to a garden or house should certainly avoid
store cards when purchasing their goods from DIY shops or
garden centres. Earlier this month, Martyn Saville from
Which? said that unless consumers plan to pay off the
entire balance of the store card once the bill comes in,
they should "avoid store cards altogether". Which? is
attempting to get credit providers to use scenarios for
customers to see the outcome of, for example, leaving a
balance on a store card, some of which carry APRs
approaching 30 per cent.

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Abbi Rouse is Editor in Chief for All About Loans. Our
visitors have access to cheap loans of all types: From home
improvement loans to bad credit debt consolidation loans.
Visit our site today: http://www.allaboutloans.co.uk