Here we are going to look at a forex trading fact which can lead you to forex trading success, if understand its significance. Here it is...
30 Years ago 95% of traders lost money and the same ratio lose today and the reason this fact is so startling is if you think of all the advances in computers, forecasting methods, the power of software, the wealth and quality of news - it hasn't helped traders win and this leads to some conclusions:
- Technology is not the answer to market success
- Being clever is not the answer to market success
- Having a complicated forex trading strategy wont help you win
- Forex news will not help you win.
Success in forex trading is not dependant on being clever, being complicated, working hard, or having a forex trading robot, it depends ( as it always as done) on a combination of a simple forex trading system and having the mindset to apply it with discipline.
There are plenty of vendors telling you that you can make money with no effort and follow a junk robot or their predictive advice - but it's not true, most of the systems sold are junk anyway - but even if you have a good one, its clear - success depends on you! Its you that is the key variable.
The Only Way to be a Winner
Sure you need a sound forex trading system and it needs to be simple so it's robust. A complicated one will simply have many elements to break - but you have to apply it and this is not as easy as it sounds, as you have to trade through losing periods.
Technology can Never Overcome the Need to do This!
There is a huge market in telling you that technology and advances in forecasting, mean you won't suffer much drawdown (if at all) but it's not true.
Even the best currency traders will suffer losses for weeks on end and you must trade through these periods, to emerge a winner.
Anyone who says it's easy to trade through a strong of losses, hasn't traded - its hard! You need to keep taking losses and watch as the market make you look a fool - but if you can do it you can win.
Why 95% will Always Lose
Forex trading can be learned by anyone and that's a fact - but 95% of traders lose and the reason they do is, they believe the easy route to profits sold online or, they have a good system but cant apply it with discipline. They don't understand to win, you have to lose for periods and maintain your discipline.
Always keep in mind that it's not the markets that beat the trader, the trader beats himself and that's a forex trading fact too.
The Route to Success is Simple
If you get the right forex education and have the mindset to succeed, gain confidence in what you're doing and can trade with discipline, you can do what 95% of traders can't - and as a result, can enjoy spectacular currency trading success.
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