Why do Forex traders fail? I have a theory in it.
At the time when I decided to start Forex trading (two years ago) the Forex boom was still in its infancy. I thought at this time that I had found the legendary gold pot The Infinity APP and that I finally found the easy way.
There are people on the Internet who can make millions of dollars and a smart person like me can not fail to make a lot of money.
I had read that 90% of forex traders fail, but never – this will not happen with me – I have a university degree with me! If you learn the best forex trading techniques and avoid the usual pitfalls, I will be the best forex trader at a time!
That’s why I invested in the best Forex training courses I have found, and I got a comprehensive DVD-based training that cost me more than $ 4,000. I received 10 CDs containing 14 hours of the best educational materials in Forex as well as many software includes free trading recommendations that were already proven by passwords and others … Now you are ready to go so I opened a Forex trading account … The best of that is that I can Forex Trading Without Paying Taxes!
I also got access to the author’s website and I could see his daily deals. Every evening I could review his deals and listen to his comments to see how many points he had won or lost. In most days it was between 20 and 30 points – most of which was in the GBP market.
It seemed very easy!
The course covered all aspects of trade, including preparation for record keeping, paper trading and even Forex trading psychology. I watched all the CDs in a few days and then prepared them to cover all the current Forex trades and some trading techniques – the man was a technical trader.
I could not wait more than this. For this I opened a trading account (another $ 5000 for hell ….). Well I sent in a request for the latest model of Mercedes and Ferrari – I expect not to wait long anymore ….
This happened nearly two years ago.
But did you get a Mercedes or Ferrari? never! Have you made a fortune? Not yet!
In fact I lost my money – a lot of money!
I have not lost my confidence in the Forex market as a way to make money on the Internet. I have seen and met so many traders who have managed to make good money through the Forex market. I know that it is possible to do so, as I saw it happen.
If the error had to be in my trading system! That’s why I invested more money.
I bought the best Forex trading systems on the Internet – but only after carefully checking their memorial certificates and making sure that people managed to make good money through these systems. I also bought a lot of books about Forex training, trading instruction and books to compare trading systems. I also purchased courses from the Internet. I studied daily trading systems compared to long term trading systems – I was determined to succeed and make money through Forex trading.
But do you really win money now? Both !
But in the end I knew where the problem had worked out. It may be embarrassing to admit this but …
The problem is me.
Yes me ! I’m the problem.
I now knew that my orientation, my style and my way were all wrong. Even when I used The Infinity APP trading systems that proved successful I was losing money.
Over a long period (it was too expensive) I could not realize it. The reason was not because I did not invest enough money.
Now I accept the fact that I can buy a successful trading system over the Internet for real money and the same with the best Forex courses. The fact of the matter – there were a large number of sources of learning and training for Forex at affordable prices.
I can quickly and easily become almost fully equipped to make money through Forex markets. Almost ?
So what is the missing link? What is the difference between winners and losers? Is there anyone else I should consult to become an integrated forex trader?
Well – I … it’s me!
I have identified a whole range of personal qualities and shortcomings that have prevented me from success – and (also some uncomfortable words) words such as self-discipline, focus, dedication, commitment and perseverance are also coming to mind.
I learned that most of the educational lessons available on Forex fail to adequately cover this aspect – perhaps because their authors are successful Forex traders who already own The Infinity APP, the vital element that most of us lack. Just do not realize it is a problem.
What is the problem?
In one sentence – “Most forex traders are unable to adhere to the trading systems they have learned.” This is why most Forex traders fail.
That is why I wrote now “The Missing Link, Another Successful Forex Strategy”. There is nothing you can do with entry or exit points, technical analysis or news trading. But the important thing is to deal with our positions and mental preparation, which provides a completely different set of trading rules without which the most successful Forex trading strategies will fail.