If you are looking for Forex Trading Secrets then look no further because this article is packed full of them to help you learn to be the best that you can be. Last week I wrote about how making choices in your Forex trading impacts the bottom line. This week I am sharing some tips that I have found along the way that will make you a better trader. This post is for everyone so please share your Forex trading secrets in the comment section below.
First we have the desire factor, to make money in your trading, you must want to make money. I mean that you must want it enough to change your bad habits. When we desire to do something the right way we are willing to change our procedures when they are not working. I have found one of the main pitfalls to traders is that even though they lose money consistently they continue to do the same habits and procedures that have been losing money. I don’t care what you tell me, if you say that you desire to succeed and you are not willing to change your ways than you don’t have the desire. This is a psychological factor that cannot be overlooked.
Bottom Line: Do whatever it takes to make money and don’t be so caught up in yourself that you will continue to do the same thing all the way until you get another margin call.
Education and Training:
Get the education and training that you need to make money. I don’t mean that you have to take a seminar and spend thousands of dollars. You can learn all you need to know for free over the internet. We put out enough material on this site alone to educate a new trader and there are many other good sites on the internet as well. Paying for quality education is good if you know that it is proven systems by reputable traders. Education is important why do all the educational systems of the world exist today.
The big part of education is getting information from people that actually are making money. You must listen to those people that have experience. Do what they say, because they must have learned some things along the way. In my life my biggest source of blessing has been putting myself around successful people and letting their success fall on me. This works and I will continue seeking wisdom from others that have been there and done that. Why? Because I am not the first person to do something or to have an idea, Why not learn from those that have made mistakes and learned to how to do well.
I have found many traders that will get sound advice but they won’t follow it. I remember speaking with one trader after a meeting and I said “ If you do that you will blow your account” His response was “you don’t understand my circumstance.” Guess what happened? He ended up blowing his account.
Bottom Line: Find people that win and follow them. You are not the first and you won’t be the last. It is not hard to find successful people to share their Forex trading secrets. Actually if you are looking for people to learn off of this blog has a great deal of wisdom and success that you can tap into.
I bet you thought this article was going to be about the XYZ crossover strategy that would get you rich. NO! Why? Because those are valuable but the mental training to trade like a winner takes work to develop. The right mental attitude doesn’t happen on accident. You must intentionally work at developing the right mindset, and habits, and skills. Write out a plan and evaluate your performance don’t hang out in a fantasy land pretending you are not losing all your money.
Discipline in all the following areas is critical to success:
- Money Management
- Mental Attitude
- Trading Strategy
- Following your rules
Discipline is what will make or break any Forex trader during the course of there trading career. Trading is not easy and it takes discipline to survive. The absolute best thing about being a blogger is the ability to get that mentor ship and experience right here. So for those of you that are sitting on amazing Forex trading secrets please share them in the comment section below. I am waiting expectantly for some incredible tips that will help me.
Thanks for reading and until next time.
Winner’s Edge Trading, as seen on: