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Success is subjective term. Every other business person will define it according to his personal goals and achievements. No matter how you define success. There are certain qualities or personality traits that are common among all successful entrepreneurs. Out of which not to rely on others for the business is one of the most important qualities, you must have for increasing your income.

Being independent in business, you’ll be in a better position to decide the good things for your business and less likely affected by the external factors.

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Fibonacci forex trading is the basis of many forex trading systems used by a great number of professional forex brokers around the globe, and many billions of dollars are profitable traded every year based on these trading techniques.

Fibonacci was an Italian mathematician and he is best remembered by his world famous Fibonacci sequence, the definition of this sequence is that it’s formed by a series of numbers where each number is the sum of the two preceding numbers; 1, 1, 2, 3, 5, 8, 13 …But in the case of currency trading what is more important for the forex trader is the Fibonacci ratios derived from this sequence of numbers, i.e. .236, .50, .382, .618, etc.

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Many people just jump into Forex without taking time out to learn the basics. This is why these days you will find still find traders in losing positions by as much as 40% several months after you’ve given them trade the same trade signals that probably fetched you 20% monthly even though you started with them with the same capital base on the same platform, traded the same FX markets using the same Forex trading systems.

It’s surprising how different people could have similar opportunities yet get completely different outcomes or results. The real answer to successful currency trading is inherent in every trader. Success in Forex trading is your personal responsibility and not that of your Forex trading systems or any external factor. If you’re going to make it in the foreign currency trading business, then it’s up to you.
You need to understand the truths about Forex trading to be able to see through the big picture. It’s really that important if you must succeed in this home business especially for a Forex trader still trading losses. Once, you can grab these foundational truths about the FX markets, and then you’re already on the road to success. This should actually be your first major step.

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The Forex market has changed through the years, growing in volume and expanding across multiple time zones.

Brokerage houses have changed, too, going online with sophisticated software and powerful servers.

Economic indicators and technical analysis have become more sophisticated, too, until the Forex market of today bears little resemblance to what it used to be.

But there’s one thing that hasn’t changed: most traders lose.

Despite all the advances in the Forex marketplace, the ratio of winners to losers remains low. Experts agree that the most hopeful number that can be advanced is a measly 10%, which means that 90% of all traders on any particular day will lose.

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