If you are someone like me when I first started trading Forex you know what it means to develop a mindset of a successful trader. Many people ask me which trading course is the best one. In my opinion there are quite a few good courses out there. Even more courses are not worth the money they ask you to pay. But in my opinion if one is still failing to make a consistent profit in trading then those courses will be very little of help. And here is why.
I strongly believe that success in trading depends not on the information one acquires but on discipline and psychological outlook one develops. So the usefulness of a trading course may be so far as it has a continuous ongoing support system. I know a few such curses that have continuous support. One of them is Rob Booker's training. You pay only one time fee and you have lifetime access to the member's area and his personal support. Another one is Peter Bain's Forex Mentor course. But for this one to keep access to the member's area and ongoing support you need to pay monthly fee.
In my experience it was not a trading course that turned me into a profitable trader. It was a book written by Mark Douglass "Trading in the Zone". If you have not yet read it then the next thing you should do is to go to the bookstore or local library and get yourself a copy of this book. Read it a few times. It was a single most beneficial book for my trading experience. In his book Mark Douglass not only outlines the psychological factors for trading success but also gives you step-by-step exercises to dramatically change your trading experience.
Once you develop the discipline and fix your psychological problems related to trading only then you will benefit from other trading courses to their full potential. Otherwise collecting more information about trading, worldwide economy etc. will not help you much. Have you ever noticed some people get access to a useful piece of information and skyrocket to success others having the same information do not accomplish much? The difference between them is in their mindset.
There are also trading strategies and software are sold on the market. What about them? As for me they are only tools that can help you in you trading. If your trading is still unsuccessful tools will not do the job for you. An axe will not cut the woods without a woodcutter. Similarly having some strategy or piece of software may help you only if you are already making consistent profit trading currencies.
So first it is better do develop discipline on you own. Nobody can help you in this except yourself. After you become disciplined and following and executing the rules of your system becomes a second nature for you then courses, strategies and software can benefit you a lot. In my opinion there is no other way to achieve success in trading Forex.
Albert Schmidt is a part-time currency trader. After quite a long time of struggle he learned to make consistent profit trading in Forex. Review a trading strategy he successfully uses in his trades. |
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