There are plenty of online marketers who says they know Forex secrets for success and they receive a few hundred dollars, but the fact is that there is only one true secret of their success and status of the last hundreds of years, so let’s take a more detailed view.
First let’s look at a Forex fact which leads to a compelling conclusion and its based on the ratio of winners to losers.
The ratio of losers 100 years was 95% and today the ratio remains the same – only 5% of traders make money!This is surprising, because in the last 100 years have seen great advances in prediction methods and technology, but despite all these advances and people who claim to know the secrets of successful currency, the ratio of winners to losers has remained constant.
So what is the real secret of currency trading success to win 5% know?
Well, the answer is Forex trading success comes from simply adopting the right mindset, it is! You might say, surely anyone can get the right mindset to succeed? But the answer is you can not and if you want to win, you have to know how.
So how do you get a disciplined mindset?
The answer is that you need to accept short-term losses and keep your eye firmly on the long term. You can have a losing period that lasts weeks, it happens even the super traders and will happen to you. It is in these times you need the discipline to keep your losses small and wait until you hit profits again. You should not feel frustrated or angry and lose confidence, you need to keep going.
If you have a good Forex education you can do this and have the confidence to continue trading and keep negative emotions out of your trading until you hit profits again.
We are all emotional beings and we have egos, no one likes to be wrong or has the market that look silly but it will and you can not argue with it – the market price is always the right price.
If you accept the losses, keep them small and run profits, you can make a lot of money and short-term losses are needed to do this, but do not indicate the failure, which is the path to successful Forex trading.
So there you have it no secret that Forex can give you a shortcut to success, you have to work and get the right attitude to win, but if you do this, you can make a great second or even life changing income;just to spend a couple of weeks studying and then 30 minutes a day of effort.