http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading Focused Approach to Forex Trading Sometimes sticking to one approach in foreign currency trading is better than engaging in too many strategies, trading too many currency pairs, or, for that matter, making too many trades. A focused approach to Forex trading ought to stick with what works, limit experimentation to well-developed strategies, and include routine audits of trading results. We have written about strategic Forex trading, conservative Forex trading, aggressive Forex trading, and technical Forex trading. Although a focused approach to trading currencies could include any of the above, the goal of a focused approach to Forex trading should be profitable Forex trading. Forex Trading Is a Business Despite the hype that new traders often see on the internet, trading currencies is a business. The reason for Forex markets is to facilitate international trade. Those purchasing foreign products commonly need to exchange currencies to make payment. They commonly engage in hedging strategies to reduce currency risks. Speculators seek volatile markets in search of profits. In each case, a focused approach to Forex trading is more likely to result in success than a haphazard approach. There was a scene in the old MASH television series in which the Harvard educated surgeon states that he does one thing at a time, does it very well, and then moves on the next. Although the example comes from fiction, the lesson is a good one. Many traders use a Forex alert service to help spot potentially lucrative trades. A trader can select a trade suggested by an alert service, apply his own fundamental and technical analysis, trade to a profit, and then wait for the next trade. This is a focused approach to Forex trading and goes along with the example from the TV show. Having reliable process to follow, following it, and fixing it when necessary is a profitable way of going about trading currencies whether your approach is technical of if you engage in fundamental based Forex trading.

1. Focused Approach to Forex
Trading
By www.theforexnittygritty.com

2. Sometimes sticking to one
approach in foreign currency
trading is better than
engaging in
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

3. too many strategies, trading
too many currency pairs, or,
for that matter, making too
many trades.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

4. A focused approach to Forex
trading ought to stick with
what works, limit
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

5. experimentation to well-
developed strategies, and
include routine audits of
trading results.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

6. We have written about
strategic Forex trading,
conservative Forex trading,
aggressive Forex trading, and
technical Forex trading.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

7. Although a focused approach
to trading currencies could
include any of the above, the
goal of a focused approach to
Forex trading should be
profitable Forex trading.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

8. Forex Trading Is a Business
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

9. Despite the hype that new
traders often see on the
internet, trading currencies is
a business.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

10. The reason for Forex markets
is to facilitate international
trade.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

11. Those purchasing foreign
products commonly need to
exchange currencies to make
payment.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

12. They commonly engage in
hedging strategies to reduce
currency risks.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

13. Speculators seek volatile
markets in search of profits.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

14. In each case, a focused
approach to Forex trading is
more likely to result in success
than a haphazard approach.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

15. There was a scene in the old
MASH television series in
which the Harvard educated
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

16. surgeon states that he does
one thing at a time, does it
very well, and then moves on
the next.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

17. Although the example comes
from fiction, the lesson is a
good one.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

18. Many traders use a Forex alert
service to help spot
potentially lucrative trades.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

19. A trader can select a trade
suggested by an alert service,
apply his own fundamental
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

20. and technical analysis, trade
to a profit, and then wait for
the next trade.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

21. This is a focused approach to
Forex trading and goes along
with the example from the TV
show.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

22. Having reliable process to
follow, following it, and fixing
it when necessary is a
profitable way of
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

23. going about trading currencies
whether your approach is
technical of if you engage in
fundamental based Forex
trading.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

24. Practice Makes Perfect
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

25. A tourist is lost on his way to
Carnegie Hall in New York City.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

26. He happens upon a man
selling pencils.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

27. He asks how to get to
Carnegie Hall and the man
replies, practice, practice.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

28. A focused approach to Forex
trading always includes
reviewing your trading results.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

29. First, traders should do results
audits. That is simple. How
many trades did you make?
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

30. How many were winners and
how many were losers? What
proportion of your gains or
losses included fees and
commissions?
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

31. What was your return on time
spent in dollars per hour?
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

32. If you want to improve on
these numbers you will do a
process audit.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

33. You will pick both your worst
and your best results and
analyze why you lost when
you lost and why you won
when you won.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

34. A focused approach to Forex
trading must include time
spend in researching trades
and market
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

35. sentiment and it must include
an honest review of how you
have done in order to
continue doing what works
and change what does not.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading

36. Forex trading is a business and
should be treated as such.
http://www.theforexnittygritty.com/forex/focused-approach-to-forex-trading