There doesn't seem to be any shortage of traders who
are crashing their accounts on a daily basis. The sad thing is that they have all these hopes
and dreams of having a successful forex
trading training and all those dreams can end with one single bad trade.
If you are planning on having a long term career in this
business, there are some things that you will have to do in order to achieve it.
First off, be prepared to take it seriously. I
know this may sound really obvious. But you'd be surprised how many wannabe traders
just jump into this without even contemplating all the things that have to be
All they want to do is make money, but they
aren't actually interested in getting a real forex trading education
and learning all the nuances that come with trading.
An example of this kind of mentality that people
have are forex trading robots. Here is something that will automatically trade the
market for you when you are not paying attention to the market. Does that sound
reasonable to you? It doesn't to me.
In fact, people have to stop having this
holy grail attitude that is so common in young
traders. If you hear somebody mentioning a system as the holy grail, run as far
away as you possibly can. There is no such thing and there never will be.
These are things that are promoted to people who are
looking to make money and don't have any interested in actually learning forex. The irony is
if they stopped looking at all these shortcuts, and learned the right way to trade, then
they would make money. They are getting in their own way.
Besides trading robots, another thing to avoid
are indicators. People tend to use indicators as crutches. Instead of
understanding the real reason why the price moves the way that it does, traders just
blindly follow their indicators, as if they knew what they were doing.
I think you will find that most traders who have
had a successful forex trading career usually don't have a lot of the excesses that so many traders
think you need in order to do this for a