How to trade forex successfully
Today we are going to touch on an important topic. Why some forex traders succeed and others don’t and How to trade forex successfully.
This not only applies to forex trading but also to everything else.
Let’s take a poll on forex trading.
How many years or months have you been trading forex? You can post a reply below.
Most people will dabble in forex and quit within months to 1 year.
Then they will say, forex trading is hard and you cannot win in trading and they will go around discouraging people from trading forex. (or any other thing that they’ve tried and didn’t work for them)
Had you listen to their “advise” – which is based on a little bit of experience (with little knowledge on the subject) – You wouldn’t have ventured into anything.
The key to success in forex trading
I will say is your Belief.
The fact is you will probably not know a successful forex trader personally.
And if the people that surrounds you doesn’t trade forex or if they trade forex – they are not successful.
There is simply little belief that would make you think that you can actually make forex work.
However, if on another scenario. The people around you are successful forex traders who actually makes good money from trading. Would you in turn believe more that trading successfully is possible and you can actually do it too?
So you see. To be successful in a anything.
It all starts with a belief which then leads to a cycle.
Which is: Belief -> Action -> Result
You will need to have a strong belief that you can do it. Which in turn will lead to action. (eg. you decide to really want to learn how to trade and you spend time learning and reading the market) which in turn will lead to result.
The initial result can be good or bad. If the initial result is bad. And if you have a weak belief that you can actually work. The initial bad result will further worsen the weak belief. And which in turn lead you to taking lesser action (lesser learning, lesser analyzing) and then will of course lead you again back to a poor result.
The cycle will then repeat itself, and very soon. You will quit what you are doing because you then believe that it doesn’t work.
BUT if on the other hand. If your belief system is strong.
This will lead you to taking action (learning how to trade, reading the market etc.) and will lead to result. Irregardless if it is a bad result. If your belief system is strong, you will then feed it with a stronger action. (learning from your initial mistakes, finding out what went wrong and tweak it) which will lead to better result than before which leads back to an increasing belief that you can actually make it work.
And the cycle will go over and over again. And that will build into a strong MOMENTUM.
For example: If you start peddling a bicycle, the initial peddle will be the hardest. And that’s because you started off stationary. But when you start peddling, you’ll begin to go faster and faster, and very soon you will need little energy to peddle.
This is the same thing as trading. At the start. You started off with little knowledge (stationary). So there’s zero momentum. And as you begin to feed yourself with more knowledge and more hands on experience. The momentum starts building. And analyzing the market becomes easier and easier. Afterwhich, it becomes part of you.
So here’s the thing. Your belief needs to be strong.
But how to be strong if you don’t have people who are successful forex traders around you?
That’s right. Your vision will feed into your belief.
You need to pause and think for a moment. What is your vision for you as a forex trader.
Is it (A) – Just try and if it doesn’t work, you will move on to another thing?
Or is it (B) – You die die must make it work?
Alot of people who fall into category A, who will just go on one thing to the next thing and to the next thing.
Everything they dig a hole trying to uncover the treasure below. But before they dig deep enough. They will feel it’s too hard and they go on finding the next hole (the next treasure). All and all, they will just be scraping the surface of everything thing.
But what they did not know is that, they were just right above the gold mine. Had they dug further, they would have reap the reward for the hard work done before.
Therefore instead of being person A, be person B. WHERE YOU HAVE TO MAKE IT WORK!
However, in order to do that, you will need to have a strong belief.
Which requires you to have a strong vision.
I want you to think of a time where you made a great trade. Where you followed your trading system and the trade turns out exactly how you expected it to be. Which in turn gave you a winning trade with a nice profit.
Close your eyes and think of that for a moment. See how the trade unfolds itself in your mind. See it moving to your take profit point and you closing the trade with a nice profit. See yourself doing the trade over and over again, then see yourself doing several different trades that all turns out the way you expected it to be.
Afterwhich visualize yourself becoming a successful forex trader who trades for a living. Enjoying the kind of life that forex trading brings you.
Now this is your vision of you. This is your belief system.
When your belief system so strong. That you’ll know you definitely can make a living out of trading.
When you know you can. YOU CAN!
When i first started off trading. I was just dabbling and testing out forex.
I didn’t made it work.
It was only until I decided that I HAVE TO MAKE IT WORK. That was when things really started to began to change. That was also when my momentum started to move. And I began to have a better understanding of the market.
They call it the market instinct. I say the market instinct was based off my strong belief system.
I knew I will be a millionaire from forex trading. I simply knew it.
That vision of mine was so strong. That it deflected any objection, obstacles away from me.
Along the way, you will begin to doubt yourself again when you met with some obstacle.
Go back to your belief system and feed it again. Start building your momentum again.
Except this time, it has already started and it’s way more easier to get it going again.
And this time, you are way nearer to your goal when you first started.
So DO IT!
Start visualizing yourself becoming a successful forex trader. And i believe, very soon. When your momentum starts building. You will definitely be able to make a living from trading forex.