It doesn't matter what system you use there are plenty of ways to make money but you need one thing to help you avoid becoming one of the 95% of traders who lose. So, if you want to know if you can win answer this question below:
I will win at forex trading because: I have a trading edge which is (Defined)
Now a trading edge is something that separates you from the majority of losers and a trading edge is NOT any of these!
- I am following a guru blindly - I have bought a system that can predict tops and bottoms in advance - I have a successful day trading system (a contradiction in terms!) - I am trading news stories - I trade by my gut instinct
The above are common answers and there all guaranteed to lose you money.
Most people approach forex trading like it's a walk in the park and its not - that's why the rewards are so high and so many people lose.
Listen to what I say, because I am not a self proclaimed expert telling you its easy and if your serious about forex trading your wouldn't expect it to be, there is big money at stake!
The good news is...
Everything about currency trading can be learned by those willing to get the right forex education and who have a desire to succeed.
In fact, if you can get the right forex education and forex trading system the money that can be made is life changing.
It doesn't matter what your edge is, so long as you know it, it's based on sound logic, you are confident in it and have tested it.
Mine for example is:
Hitting contrary trades hard by using 3 indicators to spot the set up and two to time entry and hitting them hard even though I am going against the herd.
Yours maybe something else - it doesn't matter, so long as you know that it will help you beat the losing majority.
A trading edge is a combination of learning, understanding and confidence that leads to discipline to execute your system.
Unless you have confidence and discipline in your forex trading system, you won't be able to execute it and you may as well not have a system at all.
A trading edge is an acceptance of responsibility for your own destiny and working smart to get a system you know will win.
If you like to follow and blame others do something else.
If you don't like taking calculated risks or being wrong then again go and do something else.
Forex trading is not for cry babies, it's a big boys (or girls!) game, where you need to accept the responsibility for your destiny and the challenge.
A trading edge can as we have said earlier be acquired by anyone - if you have the desire to succeed and a willingness to learn, you can be a winner to.
The markets are unforgiving and brutal - they can only be right and you can only ever be wrong - but that doesn't mean you can't get an edge and win.
You can ...
When you trade the markets you must understand how to play the odds just like the successful card player.
You fold when the odds are against you and bet big when there in your favour.
Sure, you will have losers but if you trade with the odds and an edge, you can enjoy currency trading success and win at forex trading and in many instances, make gains that can be life changing.
The question is are you up for the challenge?
If so, welcome to the worlds most exciting and lucrative business!
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