All about investment

By: Monica Hendrix

The majority of forex traders think it is and make the same errors time and time again and there BASIC. Below I have outlined these errors, avoid them and accept the truth about forex trading and you can win and win big time.

First let’s look at the most common errors.

1. Buying success

In forex trading there are plenty of vendors who will sell you a worthless course with no track record for a few hundred dollars and promise you un-told riches and guess what?

The vast majority are junk, have no real track record (a hypothetical one is not worth the paper its written on as its done in hindsight knowing the closing prices) and rely on hyped up advertising and lies to appeal to the greed and naivety of the reader.

Let’s face it, if these vendors could do what they said they could, they shut up and not bother you.

2. Using tools that will NEVER work

Most traders use tools that will never work and here are just a few:

- Scientific Systems

Elliot wave and Fibonacci are the kings of these tools. Both believe that markets are scientific – well there not.

A child in school knows that if they were, there would be no market as we would all know the price in advance. A market is a market, because it depends on opinions of humans and they DON’T think logically or to a scientific theory.

- Day trading

The time period is to short. All short term volatility is random and you can never predict support and resistance in a matter of hours or a day. You may as well flip a coin.

Ever seen a day trader with a real time long term track record of profits? – Neither have I – Let me know if you find one.

- Lack of confidence and discipline

Even traders with good methods can lack this – You need to have rock solid confidence in your system to help you trade through periods of losses.

This is the HARDEST part of trading and most traders simply cannot do it.

It really is a learned skill but it takes time a total understanding of your method and knowing what your trading edge is – If you don’t know what your edge is you don’t have one!


The Truth About Forex Trading Is

The way to make money is not to follow others, or think its easy - its not.

The way to succeed is to work smart and hard and the rewards are immense.

Accept the reality that you need to devise a mindset to deal with an entity that is all powerful – only you can be wrong as the market price is right.

Learn to trade it by accepting this fact.

It’s going to make you look stupid at times, but accept its power and work within its rules and treat trading as an odds game and you can win and win big.

Most traders are naive greedy or stupid – or even all three combined looking for an easy dollar and that’s why they lose.

Get the right mindset work hard, understand yourself and understand the market, treat it as an odds game and you could win at forex trading.

Everything about forex trading success can be learned the rest is up to you.

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