I once knew a 72-year-old lady who was a sheep farmer, rarely read the news and had no formal education, yet she made huge profits in Forex trading, turning from just $ 5,000 to $ 70,000 in just one year. On the other hand, I knew a guy with a math degree who tried three times to make money in Forex trading, deleted his account in a month and lost about $ 16,000.
I told you the results but if you only knew their profession and educational qualifications, you would probably assume that there is no chance against the little old lady math degree guy; If you think the guy can win, you should read the rest of this article. I will now explain the characteristics you need to win and the reasons why most traders lose money
The guy with the math degree, communicates in the market with the idea that he can brighten and beat the market. He was smart, so he believed he was entitled to success but he soon got some losses (as all traders do) and hated being wrong so what did he do?
He refuses to cut them and lets her lose which is the main sin of Forex trading and he gets erased. His ego forced him to lose, he thought technology and intelligence could lose the market and when he got the call to wake up from a few consecutive losses, he could not control his emotions and this resulted in his death.
The lady who made the money was a simple, straightforward person who was extremely disciplined in running her farm and she took it into her business. He was not the most academically intelligent person – but he had common sense.
She knew in that look that he had failed her, but she knew in that look that if he kept them small, he could get some trades that he could follow, cover them and make a profit. If you learn the basics of Forex trading, you will see that the best system you can use is simple and the key to winning is a humble attitude and discipline and that is exactly why he has made money.
Why You Can Win Forex Trading
If you understand this article, you will find that the knowledge you need to win in Forex trading is easy to learn and the real key to your success is respecting the market and trading in an orderly fashion, successful trading FX. And hopefully this article will give you an idea of the right way to trade in the global FX market.