Forex Trading Success - Why Being to Clever Will See You Fail

By: Monica Hendrix

Forex trading success is not based around being clever, or even working hard, it's based around being humble and working smart. Traders who think just because there clever they deserve to win, need to think again.

Keep it Simple!

Clever people tend to like to show how clever they are and construct clever, complicated forex trading strategies which don't work in reality, because they are not robust and break. A trader with a simple trading system, has a tool which is more robust, with fewer elements to break.

Simple forex trading strategies work best and always have.

You Need to Look Stupid

This is a fact of life in forex trading. You can think your market timing is great and execute your trading signal and the market hits you hard - not your fault, that's just the way it is. Clever people tend to have ego's and it bruises them, they can't take it and revenge trade or get frustrated - welcome to the real world of trading.

You see the market moves when it wants and in what direction it wants and you can only be wrong. It's always right.

Now if you accept that and don't take it personally, you can cheerfully accept your losses and know if you have a robust trading system that your profits will take care of these losses and give you an overall profit.

Perfection

Is not possible in the forex markets but some clever people think - if they work hard enough, they will gain perfection but their wasting their time. It's an imperfect world and sure, you can make money but its no place to take on the all powerful market and try and beat it.

I have trained thousands of traders and can tell you one thing from experience, the clever college kid or mathematics wiz kid, has been no match for house wives, a sheep farmer and a long distance truck driver to name a few.

Sure some clever people don't come with egos but most I have seen do and most lose.

On the other hand, the humble trader who gets a simple trading system, accepts it's not perfect - but knows it can make money if applied with discipline, ends up smiling at the end of the day, with a big healthy positive account balance.

If you want to win at forex trading, forget effort making you rich it doesn't. Forex trading is all about working smart furthermore, forget about trying to beat the market, as soon as have this mentality, the market will take your account balance in full and destroy you.

So be humble, be smart, get the right forex education and play to win and not to stoke your ego and you can enjoy forex trading success.

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