The Secret of Successful Forex Trading – Revealed in One Key Trading Fact
By Kelly Price
There are many people online, trying to sell you the secret of successful Forex trading and there are a vast number of Forex robots and sure fire systems, telling you that you can beat the market but of course – they all lose money. If you want to learn the secret of successful Forex trading, all you need to do is understand the fact in this article and its implications.
The fact is a well known one but most people, don’t understand the implications of it here it is:
95% of Forex traders lose today and have lost since trading began – I knew that you may say but have you thought about what the fact really means which will lead you to a compelling conclusion.
In the last 50 years alone, we have seen technology advance in terms of more powerful computers and software, news is more frequent and quicker and price information is now delivered anywhere in the world at the click of a mouse yet, despite all these advances, the same ratio of traders lose so the secret of Forex trading is not based on technology or complex systems its based on “something else” which we will look at now.
The fact remains that in Forex trading simple systems work better than complex ones because they have fewer elements to break, those who look for scientific order or who try and beat the market lose money. In an odds based market such as Forex, simple systems work best and anyone can learn one of those – so what really is the secret of Forex trading success? The the answer is your mindset.
The problem all traders have is they think they can beat the market and win all the time and believe the rubbish which is written on the net by Forex robot vendors and other sure fire systems, that promise big gains and no draw down. The problem occurs when traders face losses – they simply can’t take them. They run their losses and hope they turn around and cut their profits, to cover their losses which is the exact opposite of what you need to do to win.
If you hate being wrong and want to be clever all the time – Don’t trade Forex you will lose and be unable to keep your emotions out of your trading. Let,s be clear – the best Forex traders win around 30 – 50% of the time, they know they can’t beat the market but they do know, if they cut losses quickly and run profits they can win and they trade with discipline.
The good news is adopting a disciplined mindset is a choice and its a choice you can make and sure you won’t ever beat the market but you will make a lot of money. So if you want to know the secret of Forex trading success, look in the mirror because the secret of trading success lies within you – it really is that simple.
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Article Source: ezinearticles.com The Secret of Successful Forex Trading – Revealed in One Key Trading Fact