There are lots of tips to become a successful forex trader but what are the main reason why people fail?

Answer
1) Forex trading is risky
2) Bad broker (manipulating the "game")
3) High leverage and lack of money management
4) No sound understanding of fundamentals or technicals
And last but the most important point!=
5) Emotional trading (no sound trading strategy)

Everyone is trying to make a quick buck of the FX market high interest and gullable traders. There is no quick fix, and one can make a living trading the FX market if the above points are corrected.

Find a good teacher eg: www.chrislori.com (he has the actual experience- traded for the bank of Montreal, and the highest rating from the real trading community).

Good luck mate

How can I get the best rate transfering US dollars to Mexican pesos?

Living in southern Mexico and traveling to and from the US I go to the banks and currency exchange houses but the rate they pay is for example 11.80 pesos per us dollar yesterday while the rate on the net is 12.78 pesos per dollar. I seem to be consistently losing approximately one peso per dollar. Does anyone know where I can get paid a rate closer to the true exchange rate? Any suggestions or help would be greatly appreciated.

Answer
Latest Mexican Peso News

Yesterday's Trading (13-Aug-2010)

GBP/MXN - closing market price was 19.8439 with a low of 19.7842 and a high of 19.9572.

USD/MXN - closing market price was 12.7278 with a low of 12.6811 and a high of 12.7643.



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