Thursday, December 11, 2008

Forex Success - You Don't Need a College Education Or to Work Hard to Win, You Need the Enclosed

Many people think that Forex trading is hard and that you need to be clever or work hard but you don't - neither guarantees success - but you do need the enclosed trait to enjoy Forex success...

Most traders don't understand that Forex trading requires a unique mindset to win.

Anyone can learn a method but getting the right mindset is the key, it's not easy to do and that's why the rewards of trading are so high - but you can do it.

In Forex trading you are judged by only one criteria - making money. Many traders think their clever and deserve to win and others think the harder they work, the more they will be rewarded. Now this maybe true in the jobs market - but the Forex market has different rules:

You can take 10 minutes to decide your trading signal, or 10 hours effort counts for nothing - getting direction right does.

If you want to win at Forex trading the good news is you can learn how to trade in a couple of weeks. As simple methods always work best, this means ANYONE can learn a method that can be potentially successful - but this is only part of the equation for success.

You need something more to succeed and that's to trade with discipline and most traders simply fail to do this. Let's look at this in more detail.

Discipline is defined as the ability to follow your system rules and not deviate from them in anyway. Of course if you do deviate from them, you have no system.

So why is it so hard to trade with discipline?

The fact is to win at Forex trading you need to learn to lose to win , you are going to have a losing period and you must trade through it, as the market makes you look a fool and hands you losses. This hurts the ego and also the pocket and your emotions will be trying to get involved, so it's hard to stay on track.

Getting Discipline

Discipline comes from inner understanding and confidence and if you have these traits you can have discipline and of course you must not let your ego get involved, get angry or frustrated at the market - you must see losses in the short term as a route to longer term profits. Forex trading success relies on a simple method, you can apply with the correct mindset.

Forex trading has nothing to do with making a big effort or being clever but trading with discipline and its not the market that actually beats the trader the trader beats himself.

So work smart not hard, be humble, keep it simple and be disciplined and Forex trading success is within your grasp.

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Article Source: http://EzineArticles.com/?expert=Kelly_Price

1 comments:

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