subject: Forex Trading Tip - Why Hard Work and Intelligence Are Not Needed to Win at FX Trading! [print this page] Do you need to work hard to achieve Forex trading success? No you don't but you do need to understand the right way to trade and only a small minority are able to do this so lets look at what they do and how you can make big Forex gains.
It's a known fact that 95% of lose money and this is despite the fact that anyone can learn to win and many make the mistake of thinking the harder they work the more they will make and the more intelligent they are, the more successful they will be. In normal life these traits can make you money but in Forex trading.
Intelligence and Why It's Not Essential for Trading Success
Many of the world's super traders have no formal education but they make huge gains and the reason for this is simple trading strategies work better than complex ones. Simple strategies are more robust and have fewer parameters to break. Markets don't move to mathematics, they move to the odds and that's why you only need a simple strategy and anyone is capable of learning one of these.
Another problem intelligent people have is they come into trading with an ego and like to be right all the time but if you want to be right all the time, don't trade currencies. Many smart traders get frustrated and angry when they lose, run their losses and get wiped out. You need to be disciplined and keep your emotions out of your trading and anyone can choose a disciplined mindset if they want too.
Work Smart NOT Hard
Many traders think the more they study and the more effort they make the bigger their profit potential but the market doesn't care about how much effort you have put in your are judged on the accuracy of your trading signal and that's it.
You only need a simple strategy to win as we have just seen and you can learn one of these in a couple of weeks. Another way traders try to increase their profit potential is by working hard placing large numbers of trades. These traders think the more they trade the better their chances are of success but this is not true. If you trade too much, you will end up taking low odds trades and lose your money.
Anyone Can Enjoy Forex Trading Success
As you can see from the above, you don't need to be a geek or work hard to make money at Forex trading, all you need to do is get the right Forex education, keep your trading strategy simple and most importantly, adopt a disciplined mindset and your all set to enjoy long term currency trading success and earn a triple digit income.
Forex Trading Tip - Why Hard Work and Intelligence Are Not Needed to Win at FX Trading!
