The SECRET to SUCCESS in Trading Forex

Yes, I know what you are thinking….he is crazy. There is no way to beat the big banks. However, I assure you it is not an exaggeration. All I ask is you read the entire article and think about it deeply and then actually implement the insight you are about to receive.

The secret to success in trading forex comes down to a few things which we will discuss shortly. The biggest changes that will be required will be in your behavior and how you think.

First, let’s talk about the MINDSET:

1. You should be able to trade emotionless and we all know that is hard to do because you are risking your money to try and make some profit. But in order to trade emotionless, you must first have a trading plan and a proven winning strategy that has a set of rules to follow. You need to switch your behavior from “Damn, I can’t believe I missed that trade, let me try and catch it” to “oh well, there is another setup coming I can take”. You need to be patient and have discipline to follow the rules of your trading strategy. This will not only keep you out of bad trades but more importantly will improve your results.

2.Take a week off to change your mindset but while you do that organize your trading area, adjust your trading plan, clean your charts, etc. The more prepared you are, the better you can be having emotionless trading.

3.You must change your definition of trading success. Don’t compare yourself to others that have been trading for years and are trading multiple standard lots on pairs making tens of thousands of dollars a day. This can be you but it takes time to build your account and get to that point. Remember, managing risk is just as important as following your entry and exit rules! Thus, the reasons for having a great trading plan and great trading strategy. But what is your definition of success? If you think about it, $200 a day in profit is over $50,000 in a regular salary. That’s more than most people make in a year. Yes I know we all want that Lamborghini lifestyle but be patient, grow your account, and eventually you can have it.

Second and Most Importantly, STOP GAMBLING AND LEARN HOW TO TRADE PROPERLY!!!

As the old saying goes, if you treat trading like a business you’ll get paid like a business. If you treat your trading like a hobby, you’ll get paid like a hobby. Even in business, there are bad days….low revenues and with trading means you didn’t make the money you wanted or even less, had a losing day. But that is ok. You must understand that there WILL BE LOSING TRADES and even sometimes a LOSING DAY! But ask yourself, did you follow your plan. If yes, then great it was just the market was against you. If no, then you are the only one to blame. Some of the greatest traders in the world have a winning percentage of just above 30%. If you think in baseball terms, that is hall of fame status.

So, it is imperative that you have a solid trading plan and winning strategy that you use to trade. Follow the rules of your plan and strategy to the letter and you’ll find that you will have better results.

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