If you want to win at Forex then you need to disregard the majority of Forex advice on line that you get most people take it and lose. Here I will explain the real way to win which may surprise you…
Let’s get rid of some of the myths that traders believe first.
Many traders think you need to work hard, be clever or follow an automated Forex Robot or expert advisor to succeed and none of these will help you.
Forex trading has got nothing to do with working hard, it’s to do with working smart and you can easily learn Forex trading in a few weeks. You don’t have to be clever either, because it’s proven that simple systems work better than complicated ones.
Next we have the myth of the Forex robot making you money and you make no effort and if you believe this your in fantasy land. Most of the vendors who sell these have never traded in their lives and simply produce a made up back test which was done knowing all the data to support their view you will make money and its obvious a back test knowing all the facts is easy – trading forward is a lot harder.
So you may say – if Forex trading is not hard to learn and I don’t need to be clever what do I have to do to succeed and now we come to part of Forex trading education that you need to learn to win and succeed.
A simple robust method is easy to learn but what is harder to learn is getting the right mindset to apply it.
The correct mindset is under rated by most traders and that’s why they lose. Consider this:
You need to have the discipline to keep applying your system, when you hit a losing period and continue until you hit a home run of profits. This means having the discipline to keep taking losses and keeping them small in the short term, as you lose and the market makes you look stupid – think it’s easy?
You have probably never traded – it’s hard.
Do not believe anyone who tells you that you won’t lose for at least a few weeks at some point, you will in the short term even the best traders lose and you will to and need to stay on course.
You have to forget your ego and fighting losses and take them cheerfully and keep them small, as the key to winning is actually learning to lose and not taking it personally. Most traders lose due to their emotions and this has always been so.
Today 95% of traders lose, as they did 30 or 50 years ago and this ratio has remained the same despite all the advances in system technology and forecasting we have seen in the period. Success has nothing to do with complex programs maths or any other technology, its to do with having the discipline to apply a simple robust system for long term gains.
So the way to succeed is to do what other traders don’t do and that’s not to try anything clever or complicated – but use a simple Forex trading system and have the confidence to apply it with discipline.
Anyone can win at Forex Trading and that’s a fact – but the reason they lose is they don’t understand the link between not just having a good method – but learning to apply it with discipline. It sounds simple but its true and if you understand the link between method and application, you can make big profits in Forex trading.