Have you ever wondered why is it that very few traders succeed in the forex trading market while 95% of forex traders fail to achieve success? Below are 9 major reasons:
Get Rich Quick
It is this simple forex trading currency is not a get rich quick scheme, it will not make you a million dollars is days. Getting success requires patience and knowledge. It requires some forex education, patience, discipline, emotion control, etc. to get you into the world of successful Forex trading.
One Big Win- What is the best system
People are always asking, “What is the best forex trading system around?” Sorry to disappoint you but there is no trading system that will make you rich. Many forex traders spend years trying to find the ultimate of forex trading but failed to find one. The main reason is the forex market changes every second and the forex markets move very quickly
No Education- No Knowledge
One of the reasons forex traders do not make money is because they don’t have the right education or understanding of the Forex Market. You need certain forex training education, a forex course, a Forex Trading System and then a mentor to coach you. It does take time to learn and to get the right knowledge.
Discipline is the Key to Success
Discipline is so important in currency trading that it will reward you by accumulating your profits if you abide to it, and without it you will go broke. Do not chase loses.
It takes time- Have some patience
Forex traders chase after the price because they do not want to miss a golden trading opportunity. If you miss a trade let it go, remember the Forex Markets are open 24 hours a day 6 days a week so there is plenty of time and opportunity to make money.
You must manage your money and Trades
Most traders forget about risk and money management as they have the belief that they are never wrong and put all their money into every trade. The professionals never risk anymore than 10% per trade.
Learn to Control Your Emotions
Have a trading plan, plan the trade and then trade the plan. Most people will fail because they fail to have a trading plan without a plan you are trading blind and will go broke.
Keep it Real
If I had $1 for every person that thinks they can turn $1000 into $1,000,000 then I would have $1000,000. It takes time to build up your bank. Make sure you have realistic expectations.
You Don’t Have to Do it Alone
Once you have a trading plan, find a mentor, find someone that can help you. Remember it is strength in numbers. For more education lessons feel free to visit CFD FX REPORT they are the leading forex and stock market educators offering free education lessons, trading ideas. They can also help you find the best Forex brokers in the markets.