If you want to join the elite traders you need to have the enclosed 6 traits some are obvious and some are under estimated by most traders. The fact is unless you have them you will lose…Let’s look at them there in no particular order of importance – there all crucial to your Forex Trading success.
1. Your Destiny is in Your Hands
This means that you accept that no one is going to give you success – forget the Forex Robots with their fake track records and gurus telling you they have full proof systems – they don’t. You need to make Forex work for you and that means learning the right Forex education.
2. The Right Forex Education
Most traders fall for the numerous myths related to Forex trading and try and learn methodologies that will fail. They believe for example that day trading works, markets move to mathematics, buy low sell high is a way to make money and if you work hard and are clever, you will make money. Believe any of these myths and you will lose.
You need to focus on the right Forex education and that means working smart not hard. You need a simple, robust odds based system and next comes the hard part.
3. You Need to be disciplined
You need to accept for long periods you will lose!
It happens to all traders even the top guys and it will happen to you to. It is the ability to take these losses, keep them small and keep on course, executing your trading signals until you hit big profits, that separates out winners from losers.
All the best traders know they are going to lose and they know they need to keep their losses small – but they know if their patient, their time will come.
Most traders underestimate how hard discipline is and throw in the towel early when losses hit them, as they get angry and frustrated.
You must keep your emotions in check to win and stay on course, its as simple as that.
All the best traders, trade in isolation.
They don’t give advice or accept it, they go their own way and don’t care what the news or other traders think, even when they are on their own, as they know the majority don’t win.
The best traders know they don’t get rewarded for trading often, only for being right and they will wait for the right trades and only go for them.
6. They Love What they are Doing
They don’t get upset by losses and don’t get stressed out – they have cool calm heads and make their decisions based upon their systems and not their emotions.
They love what they are doing, because they have rock solid confidence they are going to win.
Putting it all together…
Having a successful method is only part of the equation for success – having the right mindset and discipline to apply the method, is just as – if not more important to win at Forex.
Most traders don’t lose because they can’t learn to win they can, its just they refuse to take on the traits that winners have.
If you can learn and apply the above traits you can be a winner at Forex trading.