There are lots of vendors online telling you they know Forex secrets for success and you get them for just a few hundred dollars but the fact is there is only one real secret of success and its been the same for hundreds of years, so let's take a look at it in more detail.
First lets 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 ago was 95% and today, the ratio still remains the same - only 5% of traders make money! This fact is startling, because over the last 100 years, we have seen huge advances in forecasting methods and technology but despite all these advances and people claiming to know Forex secrets of success, the ratio of winners to losers has remained constant.
So what is the real secret of Forex trading success the wining 5% know?
Well the answer is Forex trading success comes from simply adopting the right mindset, Is that it! You might be saying, surely anyone can get the right mindset to succeed? But the answer is they can't and if you want to win, you need to know how to get it.
So how do you get a disciplined mindset?
The answer is you need to accept losses short term and keep your eye firmly on the longer term. You can have a losing period which lasts for weeks, it happens to even the super traders and will happen to you. It's in these periods you need the discipline, to keep your losses small and wait until you hit profits again. You must not get 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 have the market make them look stupid but it will and you can't argue with it - the market price is always the right price.
If you accept losses, keep them small and run profits, you can make a lot of money and short term losses are necessary to do this but they don't indicate failure, they are the very route to Forex trading success.
So there you have it, there are no Forex secrets that 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; for just spending a few weeks studying and then, 30 minutes a day of effort. Sounds good doesn't it?
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