[chinaforex888]

In the trading contests you will see many traders that are asian. However have you ever seen an asian brokerage? They have rows of benches, because their clients will come and sit all day just watching the changes in price. As a cultural they have it installed to take advantage of any small movements. That is also the same mindset of why so much manufacturing is conducted in this part of the world. Make something, then sell large quantities for small profit margins resulting in a good chunck of change.

Be careful of the contest winning records!! I work with and continually recruit the top 1-2% of Forex traders from around the world. But not many of them have ever won the trading contests. They are just consistent at what they do. If you have ever had access to the winners of those contests you will learn that they usually win one, then loose their entire account, including the contest prize money within 2-3 months. NO JOKE! If you are getting involved in Forex to make 300%+ per month, get out NOW while you still have money! My money managers typically utilize 15:1 0r 20:1 leverage to obtain their trading results. You can be conservative and still come out ahead!

I have a 23 year old client that opened up his account last week for $15k. We began trading it last Wednesday (1 week ago) and have only made 8 trade for a total of $1,690 profit. That is about 2-3% profit per day. Is that high risk or over leveraged? NO, each trade has only been 1 standard lot. Because of our consistent trading style and fine tuned risk management, he is making more money in Forex than most of his peers at a full-time job.

Do you need to leverage your account and load tons of lots to make money? NO! Just make very consistent conservative trades - learn to Cherry pick your trades instead of forcing a trade. The above account has not had more than 2 trades made in a single day. Find the right opportunity and take it! Someone mentioned that they made some good money for a few months and then lost 30% in one month. I would ask that type of a trader, WHAT CHANGED? It will usually come down to either they over extended themselves in trades they thought were winners and lost or that they followed their gut, thinking they became a master over the last few months of trading so they didn't need to look at all the signs to confirm their gut feeling.

Several of you said that you would be happy with 15% per month. What does that mean per day? I have soem good friends that trade the stock markets in China that quit working when they were 22-25 years old because they had figured this out. They realized that if they went to work they would make 2,000 - 4,000 RMB or $250 - $500 USD per month. They had about $10,000 USD in the bank and put it to better use. They began buying and selling chinese stocks to make 0.2% profit per day. They knew when the month was up they could withdraw their profits from a few hours of trading per day and draw the same salary as they would working a full-time job. Guess what they also saved money on buying work clothes, transporation costs and eating out for lunch. So their salary went up and their actual expenses went down. So how can you do the same? I know exactly how many pips I need per day to meet my monthly profit goals. Do you? If not, you will only see disappointment.