From Forex Dreamer To Successful Trader
Going from just dreaming about Forex profits to really putting money you can use in your account is a journey every successful Forex trader must make. This journey can be broken down into 3 steps. Sadly, most people who want to become Forex traders don’t go through all the steps, and therefore never succeed. Let’s go over the steps you must take.
Step 1: The Forex Dream
This is the easy one. You hear about the Forex market and understand there is a HUGE potential to make money. You’ve probably seen the stories of fortunes being made, and you want to get in on the action. You start to dream about what your life would be like if you could learn to trade Forex successfully. Maybe you’d quit your day job. Maybe you would improve your lifestyle by getting a bigger house or finally buying the car you really want. Or maybe you would just enjoy the good nights sleep you’ll get knowing your bills are taken care of. So, the first step is to dream. It is WHAT you want from Forex trading.
Step 2: The Forex Method
Once you figure you want to make money as a Forex trader, you need to figure out exactly how you are going to do it. Most people start out by looking for the solution that seems the easiest and which will take the least amount of time, effort and money. This leads to buying automated Forex robots, custom indicators and other cheap systems that promise quick and easy profits. But as you’ve probably figured out by now, being successful is more involved than just learning a quick “system” from a $97 eBook. The trick to get through this step is to find the Forex solution that fits your personality, goals and expectations. But finding the right Forex method for you is only part of the challenge. Now you need to ask, “Am I really going to do what it takes to succeed as a Forex trader?” And this brings us to the 3rd and hardest step.
Step 3: YOUR Forex Responsibility
There are a lot of different ways to trade the Forex market profitably. Unfortunately, none of them will work if you don’t do your part to make them work for you. Regardless of the system or service you use, you are the KEY to your own success. If you search around the Internet, you don’t need to go far before you find frustrated people complaining about systems, gurus and services that “don’t work”. You never see them take any responsibility for the failure, as it is always something else responsible for the failure. However, my experience tells me that 9 out of 10 times they fail because THEY did not do what was necessary to succeed with the system or service. (I agree, there are some bad systems out there, but there are a ton of successful systems and services as well). Once you decide you want to live the DREAM of trading Forex, you need to figure out HOW exactly you are going to do it. But there is one more step you need to make. And in most cases, this is the most important step of all.
Once you’ve figured out how you want to attack the Forex markets, dedicate yourself to doing whatever it takes to gain the experience and develop the necessary skills so you master the system. You need to work on your trader psychology and money management as well. Your success is dependent on more than just the trading system you use. How you trade the system and manage you money is just as important. (This is the step most would-be Forex traders skip. They go back to dreaming and looking for a different trading method and get stuck in this loop forever!)
Dreaming about Forex is easy. Finding a successful Forex method that fits your personality, goals and expectations is a little harder. But, resolving to do whatever it takes until you master the trading method is the hardest step of all. But taking this hard step is the most important if you want to be a profitable Forex trader.