People who don’t trade in forex think the trading market is easy, and that it can be done quickly to get money forextime.com/zh-tw/trading-instruments/stock-trading. My years trading the foreign exchange market have taught me that the process isn’t as simple as it seems if one doesn’t know the market. As I look back, I am happy to report that before becoming successful at forex trading I was determined and had the right mindset.
Currency Trading Lessons: How I Turned Failure into Success in Forex Trading Articles I used to be like many people. I’d react when I got a forex signal and would trade immediately without planning or strategizing. Then I do hope that you will not make the same mistake I made last time. It’s understandable that many of you are frustrated now because you feel like the forex systems you have bought don’t work. Or if they do, then it doesn’t give you the expected results in the long run. Some people complain that:
“How come it works for some people but not me?”
– What is the key to being a successful trader?
Is my forex trading strategy the right one?
The forex market is intimidating, and despite my best efforts I’m still losing.
Do not worry. You are not alone. About 95% of people cannot win in forex because either they do not have good money management, a proven forex trading system, patience, discipline or they can’t get past their emotional/psychological barrier.
The mindset is what stops you from achieving success. How can you succeed at forex trading without a positive and powerful mindset? If you have a losing trade, or you’ve had a number of bad ones, then you need to ask yourself, “What went wrong?” and try not to make the same mistakes next time.
Some traders quit trading because of a few losses and believe that success is not possible or their capital has been wiped out. You must be careful with your money to ensure you can continue to trade. It is important to be patient. Give yourself enough time to get used to the new system and to be fair with yourself. Nobody can be successful in forex trading on their first try.