Before you start trading Forex you need to understand the 3 facts enclosed
and their significance because if you don't, your going to lose. Let's look
at our Forex trading for novice's facts and why they are so important...
Fact 1 - 95% of Forex Traders Lose Money
This fact means that Forex trading is not easy and you wouldn't expect it to
be with the rewards on offer, of course you can win but if you take the
route most novice trader's do which is to buy a cheap Forex robot or sure
fire system, you will be wiped out quickly.
If you want to make money in Forex trading, you need to make an effort and
get a decent Forex education and if you do, you can win.
Fact 2 - Simple Systems Work Best
50 years ago 95% of traders lost money and the same amount lose today and
this is despite huge advances in computer technology and the lesson is - it
Simple systems work best and always will do, as they are more robust than
complicated ones with fewer elements to break. Anyone can put together a
robust system trading quickly but the real key to Forex trading success
comes from understanding the next fact.
Fact 3 Forex Trading Involves Losing Periods
How you deal with inevitable losing periods, will determine whether you will
enjoy Forex trading success or not. Many traders believe the so called
experts, who tell them they can trade with little or no drawdown but that's
fantasy - not reality.
You will face a long losing period of weeks at some point and the key is to
take your losses and keep them small - you must trade with discipline until
you hit profits again. The key to making money long term in Forex trading is
keeping your emotions out of your trading. It sounds easy but with money on
the line and the market making you look a fool, it can be hard.
Discipline comes from having confidence in what your doing and knowing your
strengths and weaknesses; any trader can learn to be disciplined if they
want to and it's the key to a huge long term income.
You Can Win If You Understand the Above Facts
Anyone can win at Forex trading, it's a specifically learned skill. You have
to make an effort of course but the rewards for the effort you make are
If you understand this article and get the right Forex education, there is
nothing to stop you enjoying currency trading success.