Forex Trading Success - Most Traders Lose What Makes You Think You Can Win?
by kelly Price
If you want to win at currency trading, ask yourself the question - why should you be one of the elite 5% that win? If you think forex trading is a walk in the park - think again. You can enjoy forex trading success but you must be aware of the following...
Forex trading can be achieved but you need unique skills and these include.
- An ability to avoid the scams and not think anyone can lead you to success
- To take responsibility for your actions - you are responsible no one else
- You just isolate yourself from the losing herd
- You must have total confidence in what your doing
- You must be able to take loss after loss and keep them small until the winners arrive
- You must have discipline to stay on course through the bad times
- You must have a trading edge that you know and have confidence in to give you success
- You must understand the work ethic doesn't apply, you don't get rewarded for hard work
- You must understand that you need a trading edge
- Also understand being clever has nothing to do with trading success
As you can see it's a lonely life being a successful forex trader but it's a lucrative one.
The key is to stand alone and work out your own forex trading strategy you understand and can execute with iron discipline for trading success. You don't have to work hard; you can learn a strategy in a few weeks and execute it in 30 minutes or less per day.
Being disciplined is far more of an advantage than being clever.
Clever people think they deserve success and hate being wrong, but taking losses is essential if you want to win - you must keep your losses small and wait to run the big profits.
Above all you must have a trading edge that you know will give you success and its exclusive to you.
After reading the above you will understand perhaps why the bulk of traders fail - they want a mentor or guru or use a worthless forex robot with a simulated track record and think it will bring them success - it won't. You're on your own but that's fine and you can handle that, if you make a lot of money!
So do you have a burning desire to succeed, do you want to work hard and have the confidence to stand on your own? Congratulations!
If you do, you're on your way to a great second or even life changing income and have the mindset required to enter the elite 5% of winners that win at forex trading.
แสดงบทความที่มีป้ายกำกับ Forex Trading Success แสดงบทความทั้งหมด
แสดงบทความที่มีป้ายกำกับ Forex Trading Success แสดงบทความทั้งหมด
วันอาทิตย์ที่ 6 กรกฎาคม พ.ศ. 2551
วันอังคารที่ 19 กุมภาพันธ์ พ.ศ. 2551
Why The Rich Have Forex Trading Success
Why The Rich Have Forex Trading Success
by Jimmy MacDonald
Having forex trading success is much easier than many people think. The rich and successful traders don't have some secret phone number they call to know when and where the EURO is going to be in the next 24 hours.
It doesn't take mass amounts of intelligence to be a successful forex trader. You don't have to be some Harvard graduate with a doctorate in finance or economics. As a matter of fact, many of the most successful traders out there aren't the brightest bulb in the Christmas tree.
But they do have something that separates them with the 98% of forex traders who fail: They can see the market as a genuine entity. Its not a bunch of colored pixels on a computer screen to them. To them, it represents energy.
When an average trader looks at a chart, chances are it is covered with a bunch of different indicators. It'll have moving averages, RSI, stochastics, and every other irrelevant indicator. Wipe that off the screen! There is no indicator that is stronger than your eyes. Your eyes don't lie. All they have to do is relay the information to your brain.
When you see a chart on a currency notice how it goes up and down. REALLY study it. Don't force yourself into seeing something thats not there. Just look at it from a natural, curious state. The chart will start speaking to you. You'll start to notice that markets have energy. All of these traders buying and selling billions of dollars everyday will be shown on that screen.
A simple bar chart shows all of this. The market has signs of strength and weakness every second of the day and if you know what you're looking for, it starts to become painfully obvious. Give it a try next time you've got your charting software up.
by Jimmy MacDonald
Having forex trading success is much easier than many people think. The rich and successful traders don't have some secret phone number they call to know when and where the EURO is going to be in the next 24 hours.
It doesn't take mass amounts of intelligence to be a successful forex trader. You don't have to be some Harvard graduate with a doctorate in finance or economics. As a matter of fact, many of the most successful traders out there aren't the brightest bulb in the Christmas tree.
But they do have something that separates them with the 98% of forex traders who fail: They can see the market as a genuine entity. Its not a bunch of colored pixels on a computer screen to them. To them, it represents energy.
When an average trader looks at a chart, chances are it is covered with a bunch of different indicators. It'll have moving averages, RSI, stochastics, and every other irrelevant indicator. Wipe that off the screen! There is no indicator that is stronger than your eyes. Your eyes don't lie. All they have to do is relay the information to your brain.
When you see a chart on a currency notice how it goes up and down. REALLY study it. Don't force yourself into seeing something thats not there. Just look at it from a natural, curious state. The chart will start speaking to you. You'll start to notice that markets have energy. All of these traders buying and selling billions of dollars everyday will be shown on that screen.
A simple bar chart shows all of this. The market has signs of strength and weakness every second of the day and if you know what you're looking for, it starts to become painfully obvious. Give it a try next time you've got your charting software up.
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