If you understand the fact enclosed, you will have a clearer insight in terms of what it takes to win at forex trading. Most traders have no idea of its significance and lose - make sure you understand it and its significance...
Here is the fact you need to know first:
30 years ago 95% of traders lost money and the same ratio applies today this is DESPITE all the advances we have seen in computer power, software, speed of communications and quality of news - the ratio remains the same.
So what you may say?
Well despite all the advances we have seen in technology, its NOT helped the ratio of winners to losers and this leads to some obvious conclusions.
Success does NOT rely on the following:
- Up to date news
- Complicated mathematical formulas
- Trying to be clever or complex
You have numerous vendors telling you that prices move to mathematical formulas and they sell junk systems, on the back of this theory - but all they have is a simulation backwards so they fail going forward.
Many so called experts also tell you that you should work hard and be complex etc but this has never lead to success. There is no correlation between working hard and being clever and success.
There is no Code of Market Behaviour
People think they can apply technology and crack the code of the market but there is no code and prices DON'T Move to complex mathematical formulas.
Forex markets are simply an odds game and the way to win has been the same for decades:
- Don't work hard - work smart
- Use a simple system as its more robust
- Forget trying to be clever or complicated - keep it simple!
- Above all you will need the traits of confidence and discipline to win
The Real Key to Success
Is a simple robust trading method which you can apply with discipline.
Discipline is essential and your trading success is reliant on this trait, as much as method. There is no point in having a good trading method, if you don't have the discipline to trade it through a period of losses.
Losing periods happen and you must keep going, until you hit a home run. If you have no discipline to follow your method you don't have a method!
Most traders think they can predict and refuse to take losses or throw in the towel early whereas, if they had kept their discipline they could have won.
Method and Disciplined Application
The way to make money is to combine the two and get a solid forex education and have confidence in your system, so you can apply it with discipline.
Today most traders make the fatal mistake of believing in experts and automatic profits with no effort and they lose. If you want to win get the right forex education keep it simple, get a disciplined mindset and win.
Anyone Can Enjoy Success But..
Always remember - anyone can learn forex trading and win and it's not the market that beats the trader, it's the trader who beats himself.
You can't blame your tools no matter how clever they are and as they say a bad workman always blames his tools!
If you understand the above you will see success is within your grasp, if you want to win you can - good luck!
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