Is it possible for an AMATEUR FOREX TRADER TO MAKE SUSTAINABLE PROFITS TRADING FOREX ?… Yes, it is possible, however research and retail broker data clearly states that less than 1% of traders can actually make profits.
The problem, however, doesn’t lie in the difficulty along but in the way the average “trader” approaches trading. In the end, trading, regardless of the market, is a profession just like any other. You wouldn’t expect to watch some youtube videos, read a couple of articles and then be ready to work as a surgeon or a lawyer.
The Path to Becoming a Consistently Profitable Trader
If you really want to follow this path, it shouldn’t be for the money, but because YOU HAVE A PASSION FOR IT.
The path to becoming a consistently profitable trader can be a long one. You’ll very likely experience frustrations, setbacks and times when you just want to quit.
If you are just in for the money, your motivation probably won’t be enough.
Research shows that the majority of traders quit within 2 months.
The best you can do, is accept that becoming a professional trader usually takes years and you will need to treat it like a business and a new skill-set you have to develop.
This means, learning the basics about the markets, constant self improvement, following the financial markets, analyzing your trading performance, tracking your trades and collecting as much data as possible to be able to spot weaknesses in your strategy or things where you should further improve on…
Above, I am attaching you the pyramid showing the survival rate of traders. This is not to demotivate you, but to show you that most people who set out to becoming a professional trader, quit.
However, it clearly is possible to make profits – as Rich nicely described! Before you dive into the world of trading, check yourself and ask yourself if you have the correct mindset and the determination, or are just looking for the quick money.
This is not possible in trading, unfortunately.
However, if you can develop a PASSION FOR TRADING, you’ll learn a lot about yourself and can have fun on the journey!
May the pips be with you!
MEGA TREND Forex Trading – This Strategy is Suitable For Beginner and Advanced Traders
High Accuracy MEGA TREND Forex Trading System and Strategy – The Mega Trend System is incredibly simple and easy to use. Once you are used to it and have made a few trades with it, you’ll find that you’re spending very little time actually running with this system.
The other great advantage of this system is the fact that it is self adaptive and works equally well on any currency pair. It doesn’t matter if you’re trading the GBP/USD or the CHF/JPY….the system works on all of them.