There is no doubt that 99.99% of people that get into
trading forex, do so because they want to strike it
rich. But why is it that so few actually become millionaires doing so? As a matter
of fact why is it that only a certain few even make money trading forex.
You have probably even heard the statistic. Only 95% of
traders actually make money trading forex. That means a miniscule 5% actually turn a profit,
and of that 5%, who knows, how many are making a living, trading forex?
So, what is it? What's the secret
formula? What is it that separates the rich and successful traders to the losing
Many people think that the successful traders have
some kind of insider information that everybody else doesn't have access to in forex trading analysis. Well....that's not it.
Many people also believe that they have better tools
and software to help them trade. That is just simply not the case.
It's really frustrating thinking about all these
rich traders driving in their fancy cars, eating extravagant meals, and basically living
a luxurious life, while you are still working your 9-5 job. It doesn't really
have to be this way.
The simple truth is that these people just took
the time to learn the market. I know that sounds rather obvious, but if you think about
it, it makes sense.
Think of all the struggling traders out there.
What is it that most of them have in common? One word:
All of them are looking for a shortcut. They love the
idea of some magical software that will do the work for them, without them having to lift a
Think of all the automated forex trading robots, the
buy and sell indicators that just put arrows on your charts so you know when to trade, and all
those overpriced charting platforms that people spend thousands of dollars on.
What does any of this have to do with
Trading isn't complicated, but when you try to take
these kind of shortcuts, you are only hurting yourself. The simple reason is, because you are
completely distancing yourself from the market.
Instead of sitting down and figuring out what the
market is trying to tell you, you would rather let an indicator or a trading robot do that work for
If you want to succeed in forex, you better get ready
to get your hands dirty. It all starts with price action. If
you plan on being a technical trader, it starts with understanding how to read a simple price