The only thing that matters for Forex success is having a good entry system

Publish Date : 2021-04-01


The only thing that matters for Forex success is having a good entry system

About 1 out of 10 Forex traders goes broke - bankrupt!

Wow, what a figure!

Scary isn't it?

95 traders out of 100 lose their trading account at least 1 time!

Why is it that so many Forex traders get such poor results? It is not because they are unintelligent; statistics show that traders (in general) have a higher than average IQ. Traders have higher than average education and their income level is above average as well. So how come traders do so miserably?

The answer is simple yet dreadfully ignored. People jump into trading, they pour good money into live accounts and don't take the time to get thoroughly educated! It is extremely sad because trading Forex is very simple and profitable just as long as one takes the time and carefully studies it.

In all fairness, it is not entirely the trader's fault. With the explosion of online Forex trading and the fact that anyone can start trading within days (or even sooner) of making the decision to trade, accompanied by the hype and false advertisements of brokers, software merchants and Forex gurus all promising unreasonable, unrealistic and unheard of results, it is not a bit surprising that people are in such a rush to start trading...

However, realistically thinking, is there a profession in the whole universe that just about anyone can begin practicing without any real education? The answer is no; all professions and businesses require planning and proper education for success to take place. We all know, 'you reap what you sow', trading currencies is definitely no exception!

When I refer to Forex education, I don't simply mean studying the functions of MACD and sketching some trend lines on the chart. I mean getting proper and inclusive education about all relevant topics of your selected profession. No shortcuts; the statistics are clear, shortcuts lead to disaster.

Unfortunately, although nearly every trading book that I read (and there are many) specifically says that subjects like Forex trading psychology, money management, and overall personal approach to trading are the most important issues that traders must face, these subjects are almost always ignored by the majority of traders. It is not a bit surprising that there are so many losing currency traders.

Instead of taking the proper time to systematically study how-to trade Forex once and for all new traders choose to chase dreams. Here are several false beliefs that new traders have:

- They will become extremely rich after just a few months of trading Forex.

- They can take a $500 trading account and turn it into $100,000 in less than a year.

- They can purchase a magical Forex trading system that makes no losing trades.

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- The only thing that matters for Forex success is having a good entry system.

They believe all of that even though they know that they have absolutely no professional knowledge, insufficient training and yet undeveloped necessary skills.

I don't claim to have all of the answers. All I can tell you about is what works for me as well as my personal observations that are based on about 6 years of trading experiences.

If you are looking for a winning strategy than here it is:

- Understand the market;

- Understand yourself;

- Find one thing that works;

- Repeat it over and over;

- Live a balanced life.

Success is not up to chance!

Thanks for reading this article, I hope that you enjoyed it.
When I refer to Forex education, I don't simply mean studying the functions of MACD and sketching some trend lines on the chart. I mean getting proper and inclusive education about all relevant topics of your selected profession. No shortcuts; the statistics are clear, shortcuts lead to disaster.

Unfortunately, although nearly every trading book that I read (and there are many) specifically says that subjects like Forex trading psychology, money management, and overall personal approach to trading are the most important issues that traders must face, these subjects are almost always ignored by the majority of traders. It is not a bit surprising that there are so many losing currency traders.

Instead of taking the proper time to systematically study how-to trade Forex once and for all new traders choose to chase dreams. Here are several false beliefs that new traders have:

- They will become extremely rich after just a few months of trading Forex.

- They can take a $500 trading account and turn it into $100,000 in less than a year.

- They can purchase a magical Forex trading system that makes no losing trades.

- The only thing that matters for Forex success is having a good entry system.

They believe all of that even though they know that they have absolutely no professional knowledge, insufficient training and yet undeveloped necessary skills.

I don't claim to have all of the answers. All I can tell you about is what works for me as well as my personal observations that are based on about 6 years of trading experiences.

I am an active and profitable Forex trader. I am also a personal Forex coach.

Being a trading coach is a responsibility that I gladly accept, watching students 'get it' is both a pleasure and a challenge that I enjoy very much.



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