Why Most Forex Traders Cannot Accept Big Profits!

By: Samuel Leslie Berkovits

Sounds odd, doesn't it? We all want big profits from our forex trading but it's a fact that most traders cannot accept them due to one main problem which we will examine in this article.

Let's look at a common scenario.

A trader has patiently been waiting to get long a currency he gets his buy signal and executes his trading signal and the trade moves into profit - all is going to plan!

The open profit starts to get bigger and the price swings start to come back and eat is open profit. The trader thinks he better take it before the profit gets away but he holds longer and the profit gets bigger and bigger. The bigger it gets, the more tempted he is to take it and eventually, he snatches it and banks a small or marginal profit.

What happens next?

The trade goes on the same way the trader thought for weeks longer and piles up profits of $10, $20 or $30,000 and he is not in the trade, benefiting from the direction he knew it would go in!

This is a common scenario - people want big profits but can't hold them. Why?

The main reasons are - traders don't have enough confidence in there ability or method and snatch anything they can get. Also, they don't like open equity dips -everybody hates seeing there open equity dip - but if you want to make big profits you have to accept them, it's as simple as that.

Look at any forex chart and you will see, currency trends last for weeks months or years that can give you seven figure profits and of course, because the rewards are so high its hard and if its hard you would expect it to hard but there is a big difference between something being hard and achievable.

Learn to love open equity dips and see them as short term and keep your eye on the bigger price. Look back at charts and you will see how long big trends last - a long time!

Most traders don't take the time to learn forex trend following and don't have the mental discipline to follow these trends but if you have the right mindset to do it and the right forex education to give you confidence you can make a killing holding and milking these trends.

You need confidence, courage and conviction combine this with the right education and you could easily be making triple digit annual gains and be on the road to spectacular currency trading success.

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