If you want to avoid the 95% losing traders and join the 5% elite that makes big profits, you need to understand the facts that we are going to look at in this article. Let's look at the facts and why, it is so crucial in terms of Forex success.
Here are the Forex trading facts you need to know and if you understand them, you are on your way to making big gains in just 30 minutes a day.
Forex trading is a completely learned skill
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 it's a fact that you win with a simple chart-based trading system, which simply tracks the action price. What you need to do to win – is have the right mindset to make your system profitable – so let's see why it's so crucial to success.
Adopt a mindset for success
You have to control your emotions and most traders cannot, if you can you will win, not control them and you will lose money. The key to success is to cut losses and do it quickly. The market will give you a lot of losses, but as long as it is small, you will also get big trades which will earn you profit.
Forex trading is not an easy business However …
With the amount of money you can make, it's obvious that trading isn't easy, but the good news is if you have the right mindset and a logical trading system. and simple you can win.
There is no way to beat the market and 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 effortless wealth joins the 95% of losing traders.
Effort and work count for nothing in terms of profit
When you go to work in most jobs the more effort or work you put in the more money you make, but in Forex this rule of work does not apply. Forex trading is all about being correct with your market timing and the time spent on trading is irrelevant to your trading success. Most successful traders have a plan and just execute it without looking beyond it or making it complex.
If you understand the facts above, you will understand why most traders fail to make money and how you can.