Here is a simple equation for forex market success
While you need a sound robust system to win many traders think that's all they need and there is another element in the equation you have to have to enjoy forex trading success and here we will look at it in greater detail...
Here is a simple equation for forex market success
Robust Logical System + Discipline = Forex Success
Simple? Yes it is but most traders even though they think they have it don't have discipline and cannot execute their system through losing periods. Now don't be deceived by the people who tell you that you can trade with none or little drawdown - its fantasy.
Fact:
As a forex trader you will face losing periods of weeks and probably months. Even the best traders do so unless your one of the elite traders you are going to have to trade with discipline through these periods.
In forex trading you can win but don't expect short losing periods its not real life and you must trade through them until you hit a home run
Discipline is built on This Key Trait
Discipline comes from self knowledge and confidence in what you are doing. Traders who follow other peoples systems or don't have the right education will never have discipline.
What you need to keep in mind is if you don't have the discipline to follow your trading system - you don't have one!
If you want to win you need to look longer term and accept losing periods and keep your eye on the longer term prize. Most traders can't do this but if you learn currency trading the right way and obtain confidence in what you are doing discipline and currency trading success will follow.
While you need a sound robust system to win many traders think that's all they need and there is another element in the equation you have to have to enjoy forex trading success and here we will look at it in greater detail...
Here is a simple equation for forex market success
Robust Logical System + Discipline = Forex Success
Simple? Yes it is but most traders even though they think they have it don't have discipline and cannot execute their system through losing periods. Now don't be deceived by the people who tell you that you can trade with none or little drawdown - its fantasy.
Fact:
As a forex trader you will face losing periods of weeks and probably months. Even the best traders do so unless your one of the elite traders you are going to have to trade with discipline through these periods.
In forex trading you can win but don't expect short losing periods its not real life and you must trade through them until you hit a home run
Discipline is built on This Key Trait
Discipline comes from self knowledge and confidence in what you are doing. Traders who follow other peoples systems or don't have the right education will never have discipline.
What you need to keep in mind is if you don't have the discipline to follow your trading system - you don't have one!
If you want to win you need to look longer term and accept losing periods and keep your eye on the longer term prize. Most traders can't do this but if you learn currency trading the right way and obtain confidence in what you are doing discipline and currency trading success will follow.
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While you need a sound robust system to win many traders think that's all they need and there is another element in the equation you have to have to enjoy forex trading success and here we will look at it in greater detail...
Here is a simple equation for forex market success
Robust Logical System + Discipline = Forex Success
Simple? Yes it is but most traders even though they think they have it don't have discipline and cannot execute their system through losing periods. Now don't be deceived by the people who tell you that you can trade with none or little drawdown - its fantasy.
Fact:
As a forex trader you will face losing periods of weeks and probably months. Even the best traders do so unless your one of the elite traders you are going to have to trade with discipline through these periods.
In forex trading you can win but don't expect short losing periods its not real life and you must trade through them until you hit a home run
Discipline is built on This Key Trait
Discipline comes from self knowledge and confidence in what you are doing. Traders who follow other peoples systems or don't have the right education will never have discipline.
What you need to keep in mind is if you don't have the discipline to follow your trading system - you don't have one!
If you want to win you need to look longer term and accept losing periods and keep your eye on the longer term prize. Most traders can't do this but if you learn currency trading the right way and obtain confidence in what you are doing discipline and currency trading success will follow.