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Forex trading has become hugely popular in Australia and around the world in recent times, with people from all walks of life signing up to try their hand in the world’s largest financial market. It is estimated that the volume of forex trading, on average, is currently valued at $5.3 Trillion per day! The entire Australian Stock Exchange is a drop in the ocean compared to it. Even the London, Tokyo, and New York Stock Exchanges, all put together, fail to compare in size with the mighty FX market.

As many of you may have heard, FXCM has been banned from operating in the U.S. after the U.S Commodity Futures Trading Commission (CFTC) found the retail currency broker had an undisclosed interest in the market maker that consistently "won" the largest share of FXCM's trading volume - and thus was taking positions opposite its retail clients. This revelation has shocked many forex brokers around the world and brings into focus the importance for retail FX traders to carry out their due-diligence when choosing their broker.

The popularity of forex trading in Australia has really skyrocketed in the past few years and that’s primarily because of the accessibility of the FX market to ordinary investors and the ease with which you can actually trade. But it is said that the failure rate of aspiring forex traders is very high, with more than 95% of traders expected to drop out of the game within their first few years of trading. Here are 5 most common mistakes that most of those failing 95% of the traders make. Get to know them so you can avoid them and increase your chances of survival and success.

The very nature of Forex trading carries an element of risk. Being aware of the inherent risks and taking the necessary steps to guard against them is one of the key steps in becoming a successful Forex trader. Everyone has a slightly different risk profile – however, it’s important for everyone to understand the two types of risk involved with Forex trading - margin and volatility.

It takes a special type of character to be among the top traders and while education and experience certainly help, the very best traders have an edge that is hard to define without taking a close look at their behavioural habits. Winning traders commonly share some key defining characteristics that set them apart from the crowd. These characteristics are more mental than anything else and they naturally revolve around a sense of positivity. Specifically these characteristics can be viewed as follows.

To trade in the Forex market, traders need a broker to facilitate trades. Not all brokers are equal. Choosing a good broker can make all the difference where it matters most – your bottom line. A good Forex broker will provide you with peace of mind, security and the best opportunities to succeed with your trading. Good brokers will provide you with valuable key reasons to choose them. These include.

Forex traders can access a variety of analysis tools to track Forex movements, but one of the most reliable and easy to use is basic trend analysis. When you employ simple tactics of analysing swing high and lows you can make informed judgements on a developing trend. Informed trend analysis is a critical part of successful trading. This article will give an introduction to identifying and trading trends in Forex.

The Forex market does not have a central marketplace, so in order to trade you need to find a quality Forex broker to assist you in your trading activity. There are an ever-growing number of Forex brokers, making it a confusing and frustrating task to choose a quality broker. Particularly, if you have to wade through the vast number of advertisements in the print and electronic media spruiking various broker attributes. To help make your broker choice easier, it is helpful to take the following points into consideration.

Making mistakes is part of the human condition – we all make them. While experience is a great teacher, it helps if you can avoid making major mistakes without learning the hard way. With this in mind, it pays to be forewarned about common trading mistakes that can really hurt the bottom line. The key to avoiding many trading mistakes is having a solid workable plan and being resolute enough to stick to it. That plan should incorporate strategies to be aware of and avoid these traps.