Forex Trading Success - The 2 Reasons Why Anyone Can Win at Forex
If you want to enjoy Forex trading success you can, for two specific reasons and if you understand them and get the right Forex Education, you could soon be making big profits. Let's take a look at them...
While it's true that anyone can win at Forex trading most traders lose and the percentage is 95%! Now the two reasons below, will reveal why and also show you how to enter the elite 5% of winners.
FACT: Forex Trading is a Learned Skill
Are traders born or made? Richard Dennis set out to prove anyone could learn to trade and gathered a group of ordinary people, with no trading experience, taught them in 14 days and then set them off to trade. This group then went onto make hundreds of millions of dollars and go down in trading history.
What is striking about the above experiment was the people he taught, who ranged from a security guard, to an actor to a kid who had just left school and the speed in which he turned them into traders, just 14 days!
The reason Forex trading is so easy to learn is simple systems work best and anyone can do it - no college education required.
Anyone can learn a simple system. The people who believe nerds or mathematicians have an advantage are wrong, because if you make a system to complicated it will break. Forex markets don't move to mathematics, they move to the odds, so complexity won't help.
The best traders tend to be good poker players, not mathematicians and there were two in the group Dennis taught.
Forex Trading is all about odds and risk control and this leads into the next point.
FACT: Discipline is the key to Forex Trading Success
You can have a great system but you must have the discipline to apply it - if you don't you have no system! The pupils that Dennis taught all said learning the system was easy but applying it was the hard part and it is.
The reason for this is you must take losses, keep them small and stay on course until you hit a home run. It's not easy to do this as you feel a fool and lose money and your emotions are getting involved. Trading discipline it is the key.
Most traders simply lack discipline but while it's hard to acquire, if you have the right Forex Education and gain confidence from it, you can trade with discipline and win.
Success Can be Yours!
All you need to do is learn a simple system and then concentrate on getting the confidence you need, to give you the discipline to enjoy currency trading success.
Ultimately in Forex trading, the trader doesn't get beaten by the market, the trader beats himself and you now no why and how you can win.