There are several aspects of forex trading that other person does not want to disclose it to you. Especially those who are trying to sell a wide variety of expensive trading systems, brokers, and some people do not want you to know.
Today I want to tell you 6 things people never tell me when I started trading forex.
1 You do not have to be very smart to succeed in to trade
Could be one of the wrong concept that people have is they think that to become a professional trader is the person who should really smart, educated, good at math, or that has a remarkable ability to be able to profit in trading. The fact is, there are many successful traders are those who never lecture or even not finish their school. The reality is, to be truly successful trader is having the ability more psychological than technical ability as what other people off over the years. You do not need a college degree to become a successful trader, and you do not have to understand about things like calculus math. All you need is discipline and patience to make into a habit and part of your trading day.
Therefore, if you start to learn forex, you do not need to panic and anxiety because they do not understand trading systems complicated or confusing indicators.
The main thing you need to have is the ability to be emotionally and ability to control yourself, especially when you’re in a constant temptation to make you not to trade disciplines.
2. Professional trader does not consider gains in percentage
One of the ‘secrets’ largest trading forex is that non-profits in the percentage of cases. Try to think, if someone says to you that they make 100% profit in their trading last year, what exactly does this mean? That is not the case that could be a measure of the performance of their trading, the reason could be that they are just a good luck claiming professional trader when in fact they are just an amateur trader, who said that they changed the account of $ 200 up to $ 400
Professional traders usually do not provide annual performance reports of their trading to a group or groups of people that their investments. In contrast to trade them for a profit on a regular basis for each month. Professional trader draw their regular trading profit and not letting it settle in their accounts.
In actual fact, overall, the most important thing in forex trading is a risk reward, meaning that it is as much as you risked your losses and how much you download, set your profit target. For more details on risk reward this, please click on the link. Professional traders always think of this.
3 It takes time to become a successful trader
Maybe you never heard this from one already involved in the forex world. Many brokers and other people trying to sell “how accurate or secret” forex trading systems so you’d think that forex trading is simple and easy, instant, and you’ll be able to think quickly mastered.
Here I do not mean to make you discouraged, because you really CAN make money or earn profits in the forex market. I personally know several traders who succeed, where they are traders who really want to learn for hours and downs in trading them until they are able to control how trading is right, that the discipline and patience, and has a clear trading plan.
I believe that anyone can become a successful trader if they have a willingness to learn. You need to realized try to take a decision, that you will only be open trading positions when you learn the system it appears on the current market movement is in a position that you think appropriate. And you have the discipline to not risk it more than what you should be risked, where it is most traders do not discipline and almost impossible to “bow” to discipline yourself.
A professional trader understands and understands that in a few months they will get a huge profit, in a few months they might break even, or at some time they will be a little lost / loss in their trading.
4. Successful forex trader sometimes bored with what he was doing
maybe you do not want to hear that a successful trader will never get bored with what he was doing. That is not true. Each person will get bored in a given situation, regardless of the field they get into it. And it is a natural thing.
When you discipline, patience, and have a clear trading plan, you will not experience what feels like amateur trader, which is experiencing the feeling of “being above” and “being under”, meaning as excessive indulgence when a significant profit , but when their accounts are depleted, they feel frustration or results from excessive stress. Instead, a professional trader is not easily “shocked” by the market conditions they have experienced; win, lose, break even, it has become part of life in their trading, because they have to prepare all the risks and benefits (risk reward) they will face when they start to enter the forex market really is.
I’m not saying that to be a professional trader can make trading means not a thing to feel or be a great job, but at its core is a professional trader are those that do not have a ‘super emotional'; angry when they lose excess glad when they get the profit.
5 The more you think ‘need’ to make a profit in the forex market, the more weight you will feel the burden
Perhaps the best way to explain why most traders lose their money on an ongoing basis in a long time because they pressed themselves to quickly and had to get them to trade at a profit. And remember, you are the own self to blame when you lose your money; not your broker, or not your friends are telling you “Buy EUR / USD today, because it would go up!” You are the only person responsible in the forex market, is responsible for the mental and emotional health is in you.
For most traders, they get into the forex market because they thought how easy and fast to get money through forex trading. They think and dream of an independent life, can work virtually anywhere, while on holiday, and so on, if they choose to become a forex trader.
Know that the forex market is often not given hope for you to open a trading position, perhaps in a few days, weeks, even several months. Accept the fact that the forex market often does not give a great probability for you to do trading. The most important thing is how you know when it’s time to get trading, and when not to enter trading. Trader also good to know that when they are in doubt, they will not be in the forex market.
You will produce a profit in trading exactly when to trade your rare, because in line with the passage of time, you can afford on a trading plan you will be honed, discipline and patience will be formed, so you will not be hasty when you decide to get into the market forex.
6 You do not need to use the tools or sophisticated software or use multiple monitors to deter-set your trading
Most of the web sites that are not trading will tell you that you actually do not need sophisticated software or use some of the monitors for trading so that you can become a successful trader. The reality is that you can succeed in only to trade using just your laptop and use the free program, which many MT4 available on the internet. By using a laptop, make it easier for you if you often travel, and still be able to make trades, wherever you are.
The most important tool you need is to trade for yourself, especially your mind & mind (brain), not indicators software, or some number of pairs of monitors for your trading.
If you can manage yourself and mentally when you were losing the money you lost cause, surely you are approached to become a professional and successful trader to make consistent profit in your forex trading.