If you want to avoid 95% of losing traders and join the 5% profitable elite, you need to understand the facts we will explore in this article. Let us look at the facts and why, so important in enjoying foreign exchange success.
Here are the facts about the foreign exchange you need to know. If you understand these facts, you can get a good profit in 30 minutes in one day.
Forex trading is a comprehensive skill
You don't need to be smart or have a college degree to learn foreign exchange, you can easily learn the basics of trading, and you can learn them quickly, which is the fact that you win with a simple system based on trading charts, following the price trend. The only thing you need to do to win is to have the right mindset to make your system profitable – so let's see why it is so important to success.
Take a successful mindset
You need to control your emotions, and most traders can't do this. If you can, you won, without control, you will lose money. The key to success is to reduce losses and act quickly. The market will bring you a lot of losses, but as long as the trading volume is small, you will get some big deals, which will bring you profits.
Forex trading is not an easy task, but…
With so much money, you can clearly see that trading is not easy, but the good news is that if you have the right mindset and a logically simple trading system you can win.
There is no way to beat the market, there is no secret shortcut
Many people will tell you that you have defeated the market with robots, but the market quickly taught these robot traders that traders who have embarked on the road to riches have joined 95% of losers.
Hard work and work are worthless to profit
When you do most of the work, the more effort or work you do, the more money you make, but in foreign exchange trading, this work rule does not apply. Forex trading depends entirely on your market timing, and trading hours are not related to the success of your trading. Most successful traders have a plan, just execute it and don't overtake it or make it complicated.
If you understand the above facts, you will understand why most traders are unable to make money and how to make money.