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If you want to learn Forex you can, trading is a specifically learned skill and anyone can become a winner but the fact is most traders lose. So why do so many people lose at Forex? The reason is they underestimate the one key trait you need for success which we will look at in this article...
Forex trading is more to do with mindset than method and a simple example will illustrate my point.
A professional football player will kick a penalty easily in training but let's take the penalty kick 5 minutes before the end of a game, where if the kicker scores the team will win the cup. Is there any difference between these two kicks?
Of course there is, the second scenario involves pressure, the kick by its nature is still the same but much harder as pressure is involved. Forex trading is the same.
You can have a method which is logical and can win but you have to apply it under pressure.
Forex trading is not just about learning a method that's easy, the hard part is applying it through losing periods when the market takes your money and makes you look stupid. Don't believe it won't happen to you, it happens to all traders.
You have to trade with discipline in losing periods and keep your losses small. Just like the pro football player, has to keep his emotions in check as he steps up to kick so does the trader when he's losing.
When you are trading Forex, your success depends on you trading with discipline. Keep in mind, if you can't trade your system with discipline, you don't have a system!
In terms of Currency trading success, it's your mindset which is the key to winning. Anyone can learn a method for success but very few traders have the discipline to apply there method.
2009. február 23., hétfő
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