If you want to avoid the 95% of traders who lose and join the elite 5% who make huge profits, you need to understand the facts that we will look at in this article. Let’s look at the facts and why, they are so important in enjoying Forex success.
Here are the Forex trading facts you need to know and if you understand them, you will soon be making huge profits in just 30 minutes a day.
Forex trading is a Skill that is truly learned
You don’t need to be smart or have a college degree to learn Forex, the basics of trading are easy to learn and you can learn them quickly and in fact you win with a simple system based on trading charts, which simply follows price action. What you need to do to win – is have the right mindset to make your system profitable – so let’s look at why it is so important to success.
Adopting a Mindset for Success
You need to control your emotions and most traders can’t do this, if you can you will win, don’t control them and you will lose money. The key to success is cutting your losses and doing it quickly. The market will give you many losses but as long as they are small, you will also have some big trades that give you profits.
Forex Trading is NOT an Easy Business However…
With the amount of money you can make it is clear that trading is not easy but the good news is that if you have the right mindset, and a logical and simple trading system you can win.
There is No Way to Beat the Market and there are no Secret Shortcuts
Many people will tell you that you beat the market with a robot but the market soon teaches these robot traders a lesson and the trader who thinks he is on the road to riches without any effort, joins the 95% of losing traders.
Effort and Work Count for Nothing When it Comes to Profits
When you work in most jobs, the more effort or work you put in, the more money you make, but in Forex this work rule does not apply. Forex trading is all about timing your market and the time spent on a trade is irrelevant to your trading success. Most successful traders have a plan and just stick to it and don’t look any further or over complicate things.
Final Words
If you understand the above facts, you will understand why most traders fail to make money and how you can.