Trading Forex: The Truths The Marketers Won’t Tell You
When you decide you want to trade the Forex market, you do what most people do: you search the Internet for the right Forex trading solution. And in my opinion, this is the correct thing to do. But Forex marketing can pose a problem that keeps you from ever becoming successful. In this article I want to go over some unrealistic claims of Forex marketing and tell the truth about what it really takes to become a profitable Forex trader.
I just wanted to say that I am not against marketing. How else are we going to uncover the solutions to the problems we have? But common marketing tactics require that as many barriers for the buyer are destroyed. And in trying to apply this tactic, Forex marketing has ended up creating a false view of trading the Forex market.
In many cases, when you adopt this view, you are hindering your growth as a trader. Let’s separate the truth from the marketing. Many Forex products and services claim “there is no experience necessary” in order to appeal to the broadest market possible. But in my opinion, this is not the case. Experience is as necessary in Forex trading as in most activities requiring skill, maybe even more so.
Without experience, you are not going to be able to find the correct Forex trading answer for you personality, goals and trading style. Without experience, you are not going to be able to develop the skills required to trade whatever system you are using successfully. So, the truth is, experience is definitely necessary! Nobody wants to work hard, so the marketers tell you “trading Forex profitably is easy”.
I would argue that learning Forex is SIMPLE, but not easy. To learn a successful trading system takes relatively little time to mastering the system under live market conditions. It is the experience you need to gain by trading that is hard. This is one of the reasons people get stuck jumping from one system to the next. The learning of the new system is EASY compared to the time and effort put in to mastering the system, so they would rather just learn and learn and learn.
The truth is, trading Forex is simple, but being a consistently profitable trader takes effort. Marketers often say, “it is not your fault” to all the people who have “tried” to trade Forex and failed. They want to get on your side by stating you have no fault in your failure and that it was the brokers, gurus and ironically enough, the shady marketers that are to blame.
However, in my experience, you are responsible for your success, which makes you responsible for you failure as well. You need to go through the simple process of learning a profitable system, and then the not-so-simple task of mastering the system by practicing and gaining REAL experience.
The truth is, you probably didn’t do enough to master ANY of the systems you’ve “tried” to trade, and therefore it IS your fault you have not succeeded yet. Don’t despair, Forex is something you definitely can do if you put your mind to it. But you need to enter into the process by knowing the truth. Don’t be mislead by the marketers or you will have an unrealistic view of what it takes to trade Forex.
Then when you find out it is harder than they said, you jump to something else where the marketer makes the promises you want to hear. The truth is, you can learn to trade Forex and you can be profitable, if you are willing to put in the effort to avoid what the marketers are saying and go through a process of success.
***Edward Lomax is part of the Forex Investing Live Team, dedicated to helping people tap into the true wealth creating opportunity the Forex Market provides. Take the FREE course, Forex Investing Battle Plan and learn how to use the secrets of the established wealthy to ensure your success. ForexInvestingLive.com