Approach to Forex Trading

by : Kelly Price

This is a question that most traders don't even consider, yet the reason behind it is critical to your success. Currency trading can be learned by anyone - so why do 95% of traders lose? Let's look at the reason and its implications for you.

Before we start lets consider a forex trading fact:

50 years ago 95% of traders lost money and the same ratio do today.

This may strike you as a startling fact. In this time we have seen better and more frequent news, the computers we have, are more powerful than the one that landed man on the moon, software and forecasting tools have advanced beyond recognition and we have a vast amount of information on the internet.

So with all these advances 95% of traders still lose?

The reason 95% of traders lose is they CANNOT adapt to operating in an unstructured environment - this requires a mindset that is beyond most people to comprehend.

You will hear a lot about discipline and how it's the key to success and it is - but it stems from being able to operate in a world without rules and laws - the trading environment.

Everywhere we go in life our day is structured.

We obey laws and rules which order our lives and if something goes wrong we consult an expert. That's fine in the real world but the trading world requires you devise your own rules and laws and take responsibility for EVERYTHING.

The market is all powerful, it moves as and when it wants and it's always right.

Your rules and laws that you create must allow you to make a living from it.

To operate in an unstructured environment requires courage confidence and discipline and a deep understanding of what you are doing, your strong and weak points.

In everyday life we tend to think that science can solve everything and we are amazed at the advances we see every week but guess what?

Using science or technology in the market doesn't guarantee success.

We also consult experts and that s great in real life but guess what?

Yes you guessed it - they won't guarantee success either.

Sure, there are plenty of people who say they will help you for a few hundred dollars but they won't guarantee you success as trading success comes from within.

Trading is as it's always been - simple on the surface and far more complex underneath, that why so many people lose.

To trade and win you need a deep understanding of what you are doing and the confidence to build your own reality and see the truth.

If you can't do this, you will join the 95% of people who lose at forex trading and if you read this article now or in 50 years time, that statistic will still be the same.

The good news is - if you have a willingness to learn and can take responsibility for your actions, you can succeed where 95% of traders fail and enjoy currency trading success and make huge profits consistently - Good luck!