With the wealth of currency trading training resources out there, it is really amazing that the majority of forex traders not only do not make money online, but also end up losing a significant portion of their capital.

The problem lies in that most currency trading training resources tend to focus on 2 things, fundamental and technical analysis and neglect or have little emphasis on the most important attribute of a successful investor - his mindset. While forex trading strategies come and go, an investor without a proper mindset to follow these strategies strictly will end up poorer for it.

The 2 emotions that all successful investors must overcome are fear and greed.

Fear results in your holding on to a losing position in the hope that it will turn into a winning one.

Greed is the other side of the coin. When you are holding on to a winning position, you obviously want to ride the position as far as it will go so that you can maximize your profits. But as the forex trading market is very volatile, a winning position can quickly turn into a losing position.

The solution to this is very simple:

1) Always set a stop loss and take profit target. The rationale for this is simple. Enter your trade, set a stop loss and take profit target, turn off your computer and go to bed. The next day you'll either make a profit or turn in a loss. However if your forex trading strategies are sound, you'll eventually end up with more profits that losses and overall you'll be able to grow your capital consistently.

However, what if you're a day trader or scalper and want to actively participate in the market? The other 2 solutions that would help you overcome your fear and greed are:

2) Translate your strategy into an automated trading system. This is possible in the forex trading market by writing a series of instructions into the MetaTrader 4 platform and letting the software trade for you automatically. Since computers have no emotion, you just have to leave your computer running and wait for the profits to come.

If you are not IT literate or simply don't have the time to write code, then you can simply:

3) Purchase an automated forex trading system. These are forex robots written by experienced investors to participate in the forex trading market automatically and put up for sale to generate extra income for themselves. Choose the correct one wisely (you can read reviews at http://www.forexstartrader.com) and simply install and let them do their job.

Whatever method you choose, just remember - currency trading is easy with the proper forex trading strategies, but mastering your emotions is not, especially with your hard earned cash on the line. No amount of currency trading training will help you in overcoming your fear and greed. Work on this and you'll be halfway there to becoming a successful forex trader.