Forex Trading-If you want to avoid the 95% of losing traders and join the elite 5% who make big profits, you need to understand the facts we are going to look at in this article. Let’s look at the facts and why there so crucial in terms of enjoying Forex success.
Here are the Forex trading facts you need to know and if you understand them, you’re on the way to making big gains in just 30 minutes a day.
Forex trading is a totally learned Skill
You don’t need to be smart or have a college degree to learn Forex the basics of trading are easy to learn and you can learn them quickly and it’s a fact that you win with a simple system based upon trading charts, that simply follows price action. What you do need to do to win – is to have the right mindset to make your system profitable – so let’s look at why it’s so crucial to success.
Adopting a Mindset for Success
You need to control your emotions and most traders cannot do this, if you can you will win, don’t control them and you will lose money. The key to success is to cut losses and do so quickly. The market will give you a lot of losses but so long as they’re small, you will also get some big trades which give you profits.
Forex Trading is NOT an Easy Business However…
With the amount of money you can make it’s obvious that trading is not easy but the good news is if you have the correct mindset and a logical and simple trading system, you can win.
There is no Way to Beat the Market and no Secret Short Cut
Lots of people will tell you that you can beat the market with a robot but the market soon teaches these robot traders a lesson and the trader who thinks he is on the road to riches with no effort, joins the 95% of losing traders.
Effort and Work Count for Nothing In Terms of Profit
When you go to work in most jobs the more effort or work you do, the more money you make but in Forex this work rule doesn’t apply. Forex trading is all about being correct with your market timing and the time spent on trading is irrelevant to your trading success. Most successful traders have a plan and simply execute it and don’t look beyond it or make it too complex.
If you understand the above facts, you will understand why most traders fail to make money and how you can.
Source by Kelly Price