Can You Get Rich By Trading Forex? I want to be honest with you and the truth is forex trading is a business that need proper mindset before one start investing in this industry. Again, its of paramount importance to know that, all traders lose on some trades and there is no one out there can brag that they have 100% win at all times.
With the right education and mindset, its easier for a trader to increase his/her odds of winning and become a winner like 70-80% of the time. I want to highlight that the reason why many people lose in trading is that, they do not have the right mindset and they always think of how to make a million in a day. I was like you if you still have that mindset.In trading you must take it like any other business where by you need time to master, education alone is not enough, you still need more time of practising than even learning.
You can be a recent graduate from car driving school but that does not mean you are a driver, yes, you are driver but you have not practised enough to automate the process. All traders need to understand that, forex trading is just like driving a car. You need to be consistent with the strategies you have chosen to use. Let me be frank enough today with you, any strategy you have today can make money for you. I know there are better strategies out there, but the one you have if you consisitently practice in demo before you can jump on live account, you will make money. The bad thing is that, many people want to by-pass the procees of learning and practicing and they end up having only the introduction of how the market work.They only know when it goes up buy when it goes down sell, this will kill you my friend! You need first to seek the knowledge, and then practice what you have learnt.
Many traders do not believe in their trading strategies and that is why they keep on looking for holy grail. The holy grail in trading is just practising your strategies over and over again. If you stick with the ones you have today for a period of one year, doing extensive paper trading and stimulation trading, you will become a professional trader and you will eventually become rich.
Another holy grail, for them who do not want to pay for mentors, you can still get the basic information and trading strategies from youtube for 100% Free. If today you can do yourself a favour and just stick to one mentor ( you can choose me if you want haha) who you think will help you in becoming a millionare that will be a win to you. The problem with many aspiring traders who want to buy their ferrari cars next year is that, they keep on changing their strategies.
Today, one might be practicing how to trade using bollinger bands, yes, if you practice this long enough, for sure you will start making money. The problem is that, when they get new information from youtube, ”How I made $30,000 a month just by using RSI and stochastic indicators only?”.You find yourself now starting learing how to get the same amount. The person did not tell you for how long they have practised those two strategies for them to be successful. the person might have 10 years in trading only using those two strategies.
My simple advice today is to stop chasing money, and stick to one strategy for a couple of years and you will become rich my friend. Trading as it sounds good to call yourself a forex trader, you need to know these basics.I was there and i also struggled with different strategies but my mentor guided mewhat I was doing wrong.Just stop chasing money, and it will chase you. Seek proper knowlegde, practice the same strateigies for the next 3-4 years and if you do not make money SUE me. I will as well give you the same piece of advice for free because I care for you lol!
So please, plan your thoughts properly. We need to have the mindset of being rich yes, but you have to do the work. In this case I mean inspired action. Working on the same strategies over and over for a period of 3-4 years is not a joke! The consistency itself is what I call inspired action. You may start doing this being 100 people but only 10 people will complete the journey. Why are you among the 10 people if not inspired action??
By the way, you are perfectly caapable in becoming a pro in the industry if you think of these very simple basics things I have mentioed above. You will get challenges, you will blow many accounts, you will feel discouraged but just focus on becoming the best. Its my wish one day you will as well give someone you care the same advice.
Many people complicate things but you just need basics on how trading work to become a millioanare.Its my vision that your ferrari is coming soon! In case my English is not perfect, please remember I am a trader but not a writer lol. I think I helped you today? Looking forward to see your emails of how you are doing at admin@myforexglobal.com or SKype me at mentor@mfg.com. in case you need more help. Telegram Channel link: