I wonder why so many traders are losing in the forex market, and there came an answer to me, its definitely because they are not taken forex trading as "a business". Although, there are freedom of everything in forex trading, but there is never a misuse of this freedom to the benefits of the trader. This is what traders should think before they do anyhow in trading. Forex trading is not regulated when it comes to its participants, that is why so many traders do not know the ethics that contain in forex trading. It does not matter if the world trades forex, what does matter is how many traders are successful in the trading and earning live earnings in the forex market.

VIEWING MARKET IN THE RIGHT WAY: The first step to be done by the trader is to "view the forex market in the right ways". You will have to have a feasibility study about how you want your trading career to be, and how you will achieve the same. Take trading serious and make a disciplined determination to your trading rules. Never go again your trading style and have your own trading journal.

Also, try to review all your work in the market weekly, preferably during the weekend, and set to correct the mistakes you made in the previous weeks. Make sure that you do not over trade or allow greed to rule in your trading, because the greed is the one that will first set in before the real emotional trading comes in; most especially if the trader has also acquired so many losses initially.

Set your daily, weekly and monthly target, but never let it to be unrealistic to achieve, unrealistic target could make some traders to be too anxious, thereby causing them to over-trade. In fact, if you want it at the best, use the average of the pips you have gotten for long period of time for daily, weekly and monthly to set this target for either the day, the week or the month targets. Also, bear it in mind that you can never meet your target all the time, it is not possible, there are times that the market will behave beyond a good condition, and in this case you will move on, this is actually part of trading.

You should set your trading parameters all the time, know your stop loss and the take profits. Let the risk reward ratio be or more than 1:2, because that is what will bring good trading reward to the trader in light of good trading management. Forex traders should not do a lesser risk to reward because it might not make the profits of the trader to be pronounced.

Above all, always try to exercise a good conduct in your trading, knowing that forex trading is not a quick place of making money, you will have to work for the money that comes to you. The survival of the fittest is what keeps the market active, and your good conduct is what will help in this risky business. HAPPY TRADING!