Forex trading is simple to understand and easy to learn yet, 95% of traders lose. There are two main reasons for this and we will look at both here...
First let's start with a fact to make you think:
30 years ago 95% of traders lost and 95% lose today despite the huge advances in communications, speed of data, quality of news and the power of computers and there testing power - the same ratio lose, so all the advances haven't helped.
You can't beat Forex with technology and the fact is simple systems work best and always have, as they have fewer elements to break than complicated ones.
So if you work hard or try and be clever it doesn't guarantee you success.
You may now well be asking...
If it only takes a simple system to win, anyone can do that and yes they can - but they must learn to apply it with discipline.
Discipline is the key!
Most traders can never trade in a disciplined fashion and the reasons they can't are they require that, not only do you need a good forex education but you are fighting your emotions when you trade and let them get the better of you and you will lose.
Normal behaviour we take for granted in society is fatal in forex markets. Let's look at some examples to illustrate this:
- You need to trade in isolation, away from the herd and this is hard, as we are like to be with the majority and not feel on our own.
- You cannot consult an expert, as trading success comes from within - your knowledge and the confidence you have in it and an expert can never give you that.
- There are no set rules in the market, you make your own, trust them and survive by them.
- We all hate losing, it wounds our ego but unless you learn to lose and keep your losses small you will never win.
Now all the above make trading a unique challenge.
Sure you can become disciplined - but don't let anyone tell you its easy - it isn't.
Of course, you wouldn't expect it to be, with the rewards on offer - but if you are disciplined and you have a sound logical method, applying it with discipline can bring you rewards which can change your financial future forever.
The choice is yours:
You can learn Forex trading the right way, or you can listen to the so called gurus and experts, who tell you it's a walk in the park and lose.
Make an effort - invest in a sound Forex education and you will have confidence and discipline and win - it's as simple as that. You can do it if you want to and the choice is yours.
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