subject: Forex Trading Secrets - The Only Secret You Need to Know to Make Huge Gains! [print this page] Forex Trading Secrets - The Only Secret You Need to Know to Make Huge Gains!
There are lots of vendors online trying to sell sure fire trading systems and robots which they claim, have found the secret of Forex trading success but of course if this were true, they wouldn't sell them to you and would be concentrating on making money! The real secret of trading success is enclosed in terms of a fact about Forex trading and if you understand the fact, you will have the secret of Forex trading success.
The fact we will look at is a well known one - 95% of traders lose money but why this fact is so important in understanding how to win at Forex trading is - its remained the same since trading began. Now think about that for a moment; in the last 50 years alone, we have seen computers and software emerge to help traders, we have better and faster news delivery and finally, instant prices at the click of a mouse yet, all these advances in technology have made no difference to the percentage of traders that lose.
So what is the secret of Forex success?
The secret lies within you and it's your mindset. Consider this, Forex trading is simple and simple systems work best, because they have fewer elements to break than complex ones and anyone is capable of learning a system that can make money. The problem most traders have is with their mindset - they want to be right all the time and seek perfection but that's just not possible in Forex trading. You will generally lose more trades than you win but that doesn't matter if you keep your losses small however most traders fail to do this.
What happens when most traders start to lose? They get angry ad frustrated, they run losses and override their trading signals and wipe themselves out. This happens all the time and causes the same number of traders always to lose despite how much technological help they get. The secret of Forex trading success is simple:
You are going to lose for periods of time so accept the losses and keep them small, only by keeping them small will you cash left in your account to trade the big trends and profits and make yourself a great overall gain. If you want to feel smug and clever and be right all the time, forget FX trading because your going to lose at times, the best traders in the world do and you will too. The key to making money therefore is to trade your system, with good money management and trade it with discipline.
Our Forex trading fact proves this yet, most traders fail to accept it or think they can beat the market now, you may not be able to beat the market or get every trade right but that won't stop you making a lot of money!
The secret of Forex trading success, lies within you and all you have to do is adopt the right mindset and you can make a great second income trading Forex - it really is that simple.
