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Titled: Forex Trading - If You Can Get This Question Right Congratulations - You Can Win!
Forex Trading - If You Can Get This Question Right Congratulations - You Can Win!
Article Summary: Get this simple question right and you're on the road to currency trading success get it wrong (and most new traders do) and sorry you need to continue with your forex trading education. Ok, here is your question answer it with no pause, no hesitation and with total conviction and confidence.
Get this simple question right and you're on the road to currency trading success get it wrong (and most new traders do) and sorry you need to continue with your forex trading education...
Ok, here is your question answer it with no pause, no hesitation and with total conviction and confidence:
Q: I know what my trading edge is ( define it ) and it's why I am able to win, when the vast majority of forex traders get wiped out and it puts me in the elite 5%.
A: There is no set answer - but some forex traders have what they think is an edge and its not.
So here are some common answers that are totally wrong:
- I follow the news stories currencies move to the facts
- I have an expert or guru who advices me and trust him
- I will make money buying low and selling high
- I can predict forex prices in advance and use a scientific theory
- I have a robot sure it hasn't been traded and has a simulated track record but the logic is sound
- I trade short term scalping and day trading it's a great way to make money
- I have great money management and can place a stop
Etc
The above are based upon misconceptions of how to make money in forex and there all wrong.
Most traders look at forex trading and think it's a walk in the park and easy, the facts say otherwise.
5% of traders experience a quick wipe out and it's not easy, making the big money in any area of life is hard, that's why you get such big rewards.
If you want to win, the first point is no one can give you success, so stop trying to buy it. Only you can give yourself success, as success comes from within. Success is based upon, a simple, logical robust trading system, you have learned and you can apply with iron discipline.
Most traders never have the courage and discipline needed, because they don't learn from the ground up and gain confidence.
How can you take loss after loss (all forex trading strategies have them even the best) and keep going with discipline if you don't have confidence and accept responsibility?
The fact is forex trading to learn is within reach of everyone - but you must have learned the right way, to have courage, conviction and discipline. This means having an edge, you believe in and is soundly based and the ability to aplly it, even when your losing with discipline.
All the professional forex traders have an edge (it can be anything you like) but in your own head, it must separate you out from the vast majority who burn their equity.
If you don't know what your trading edge is - you don't have one!
Continue your forex trading education, until you get one and don't expect anyone to give you it - you have to work it out. If you can, though and you can apply it with discipline, you can be a winner.
Article Source: http://www.upublish.info
About the Author:
kelly price
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Keywords: Forex+Training, forex+trading+education, forex+education, learn+currency+trading, forex+trading
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