There are lots of people telling you secrets of Forex trading success online but the secret of success is not, what these vendors of Forex robots and predictive systems tell you. The real Forex secret of success is revealed by simply knowing and understanding the fact enclosed, let's take a look at it...
Let's start with the fact itself and then why it is so significant in leading you to Forex trading success - here is the fact:
95% of traders lose money at Forex trading and this ratio of losers, has remained the same since trading began. If you think about this fact, in terms of the advances we have seen in the last hundred years in terms of technology, the power of computers, software programs, news and speed of price delivery - NONE of these advances in technology have helped change the ratio of losers! Traders think that complex systems and technology, can "beat the market" but our fact proves otherwise, the real secret of success is "something else" so let's look at what it is.
If you want to win at Forex trading you need a simple robust system, not a complicated or complex one; the reason for this is:
Simple systems have fewer elements to break and our fact mentioned earlier supports this; the real problem for most traders lies within them and that's why, the ratio of losers has stayed at 95% throughout history and will probably still be the same in a hundred years time.
Traders are emotional beings and greed and fear causes them to run losses and cut profits and this leads to their demise. They simply cannot keep losses small, they run them and this leads to disaster. On the other hand, they don't have the courage to run profits and cut them early - so they run their losses and cut their profits, when they should do the exact opposite!
If you cannot trade with discipline, you will lose but how do you acquire discipline?
The way to do it, is to have confidence in what your doing and to accept losses and keep them small, you then need the courage to run your profits. In Forex trading the market doesn't beat the trader, the trader beats himself. The real Forex trading secret for success, is simply to look within you and adopt the right mindset - it really is that simple.
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