subject: You Can Trade Forex Successfully [print this page] You Can Trade Forex Successfully You Can Trade Forex Successfully
The very first thing I want to tell you is that you can trade Forex successfully. Now the first step in trading Forex successfully is to believe that you can trade Forex successfully. As many of the self-improvement gurus tell us, "what you believe, you can achieve". That may sound hokey to you, but it is absolutely true. The first step in any achievement is belief and Forex trading success is most certainly no exception.
Your belief in your ability to successfully trade Forex will grow as you become a better trader. You may be wondering what you can do now if you happen to be someone who has not yet entered the market. Let's take a look at some of the things that you can do to get yourself in the right mindset before you even take your first trade.
One of the most important things, especially for beginners, is to have realistic expectations. You may be wondering how you can have realistic expectations even if you have yet to place your first market transaction. Here's some help with that. Keep this statement by Robert Strakkenn in mind, "You don't have to be perfect to be profitable". This may be contradictory to what you have heard, especially after seeing so many of the hyped up claims about how accurate certain strategies are and how quickly you can accumulate funds in your account with little or no effort on your part. Let's list a few expectation level points to put things in perspective for you.
Expect that things will not always go as planned. Contrary to what you might have read or seen advertised every trade is not going to be a winner. The sooner you get this fact for your head, the better off you'll be in the long run. In fact, I frequently advise people to experience a losing trade, just so they can see that having losing trades is not the end of the world.
Expect that there'll be work involved. Once again, contrary to much of the "advertised conventional wisdom" successful trading requires effort. This is true of any endeavor in which you wish to excel. If you're afraid of hard work for some reason, then it will be difficult if not impossible for you to excel in the markets. The people who do the best in trading are those who are willing to put their nose to the grindstone and roll up their sleeves and exercise the necessary discipline to get the job done.
What we just covered is but the tip of the iceberg of things for you to keep in mind in order to trade successfully. You can actually do this, especially if you exercise patience and discipline.
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