Forex trading is fast becoming an attractive business opportunity. Thousands of merchants around the world are tempted by the idea of making lots of money from the comfort of your home. It is too easy today to start trading forex. All you need is a PC, internet connection and a small amount of money to spare. Any forex broker will give you a state of the art trading platform, forex charts and free package of basic education. Anyone can do that. But if you are smart enough, here are a few questions for you:
Do you feel that something is missing here?
Have you ever wondered why 95% of forex traders lose money retail? And if so, who are the real winners in the field of Forex?
Are the big dogs in the forex industry by the herd of “stupid” again, like snuff industry not long ago?
Well, your instincts are right. Once again, someone is not telling the truth: “There is no easy money in the Forex market. Also, if you are a typical rookie, his chances to be a money maker Forex are practically zero in the long term. In fact, most Forex brokers have it and exploit it for their own good. They know that even above average, smart people are missing the most important thing, which is a prerequisite for any successful career in trading. So here are two more questions:
In a market with a daily transaction volume of a few billion dollars, someone has to make money, right?
So if the majority of Forex traders lose money, which makes the “blessing” of a few trade for a living so special? What is the “secret” ingredient most traders miss?
Here’s the short answer: most of the traders and human beings have basic human traits. Everyone has these traits. It’s our nature.
Winning traders are highly disciplined and self controlled. They know how to cope with losses. They stay focused and goal no matter what. That the market without the fear of loss and know how to overcome greed. And the traits of winning traders have not changed for decades. Winner of the merchants are those who hone their trading psychology in recent years and did not quit after a few losses. This small group of traders did what the vast majority of traders never learn. It is a difficult process, much harder to learn technical analysis, charts to read or understand the news. It’s hard, because it’s about control of our most basic human traits.
There are no shortcuts in trade, as there are no shortcuts in the practice of law, to play professional basketball or conducting an orchestra. But if you are prepared to do whatever, you will be rewarded. The winner of 5% of Forex traders are living proof of the psychology department of commerce.
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