Becoming profitable in Forex takes skill and personal development. Just like winning in any sport or competition. Most traders want favorable results after a week of trading with little effort.
Anyone can become a profitable trader if they do what it takes to become profitable. You don’t need to be “born a great trader“. You need to work at it and keep working at it.
Derek Jeter shortstop from the New York Yankees said something to this effect- “You may not be the most talented guy on the team but there is no excuse for you not to be the hardest worker.
“Is Forex profitable?…” For 5% of Forex traders it is. You need to do what those 5% do in order to be profitable. They all basically do the same thing.
There is no reason you cannot develop yourself and eventually become profitable. If you are new to trading there will be a learning curve. If you are serious and have the drive to succeed stay with it and never give up learning and developing yourself as a trader.
- The Most Accurte Moving Average Trading System
- Top 10 Best Highly Effective Trend Trading Systems
- Forex Trend Session Synergy Trading Strategy with Momentum
There are many benefits and advantages of trading Forex. In Forex trading, a small deposit can control a much larger total contract value. Leverage gives the trader the ability to make nice profits while at the same time keeping the risk capital to a minimum.
Once you decide you want to pursue trading, treat it as you would any other profession – seriously and with preparation.
The three trading basics that I focus on initially with my clients are as follows:
- Develop a Trader’s Mindset – the psychology of trading
- Understand the Principles of Money Management and apply them unfailingly
- Trade with a Strategy that provides you with an edge – put the odds of having a successful trade in your favor.