If you want to enjoy currency trading success you can, but you need to be aware of one key point. 95% of traders lose money and that’s a lot of people! Don’t think you can’t do it, you can and this article will show you how.
The Forex markets remain the final frontier of the free market economy it’s the world’s biggest business and the most lucrative and is one of the few businesses you can start with small stakes and build real wealth. You can earn huge profits due to leverage, which allows you deposit 1,000 dollars and leverage it up 200 times to trade $100,000! If you can use leverage the right way, you can make huge profits let’s take a look at how to do this.
Forex trading is a learned skill and anyone can learn a simple Forex trading strategy for success; in Forex trading simple systems work best, because they have fewer elements to break than complicated ones. You only need a simple strategy to succeed but that’s not enough, you need the right mindset and that’s why most traders lose they don’t understand the next key point!
Despite what a lot of so called experts or Forex robot advisors will tell you, you can’t predict what Forex markets will do in advance and this means you will have losing periods. These losing periods, can last for weeks but that’s ok, so long as you cut your losses and run your profits. If you are trading with leverage you can lose 70% of the time (if you keep your losses small) and win just 30% of the time (if you run your winners) and still make triple digit gains!
The key to Forex is simply trading with discipline; forget your ego, learn to lose keep losses small, have faith in your system and the courage to run your winners and you can enjoy currency trading success.
New Forex traders think geeks and mathematicians, make the best traders but they don’t – Why?
Because they think being clever and building complicated trading systems, is the way to make money but as we have seen, simple trading systems always work best. Clever traders also come with egos, they simply hate losing and let their losses run and with leverage that leads to disaster. The best traders tend to be humble, highly disciplined and simply focus on what needs to be done and that’s, keeping losses small and running profitable trades for as long as they can.
Most traders don’t lose because they can’t learn to win, they lose because they don’t adopt the right mindset to succeed. Anyone can learn a method and anyone can adopt the right mindset, if they really want to and you can too.