The fact is anyone can learn to trade Forex and anyone has the potential to be a successful trader but it’s a fact that 95% of traders lose. The reason is not they can’t learn a system, it’s because they cannot adopt the right mindset…
Here are the key character traits winning traders have and you need to.
1. Acceptance of Responsibility
No one else can give you success; you’re on your own. So forget all the vendors selling you junk sure fire trading systems, offering you Forex trading success with no effort and get real! If they made money a lot more traders would win.
2. Get a Good Education and avoid the Myths
This follows on from point 1; you need to know what you’re doing, so you can acquire confidence. If you don’t have confidence in what you’re doing, you will never acquire the next trait which is the key to Forex trading success.
Traders have heard the word but they don’t really know what it means and why it’s so important, so let me explain.
At some point you are going to lose for long periods (don’t worry it happens to the best traders) and you are going to have to keep executing your trading system, as the market gives you losses and makes you look stupid. It’s in these periods that you have to keep your emotions and ego out of your trading and keep going until you hit a home run. Think it’s easy? You probably haven’t traded.
Forex trading success is built on an understanding of the market, how it works and an understanding of your strengths and weaknesses.
If you acquire this knowledge, you can trade with confidence and discipline and you can enjoy currency trading success.