Many traders believe the rubbish, they are told by so called Forex experts, that show made up track records which indicate you will never suffer a string of losses – but this is fantasy not reality. You will Lose – but the good news is you can still make big profits here’s why…
One of the reasons Forex traders lose is they are unprepared to handle a losing period but they need to learn that to win you have to lose and a simple example will illustrate the point:
I know a trader who manages over $100 million and he losses 70% of the time and has losing periods of two months or more yet his annual compound return is 76% over 5 years.
He knows (and you need to know to) that losing is part of the game and losing periods can last for weeks or in his case months. What you need to do is stay on course, when these losing periods come and keep your losses small, by trading with discipline and this is NOT easy!
We all have egos and it hurts, when you trade and the market makes you look a fool – but you must keep going, until you hit a home run.
The fact is if you don’t learn to take your losses cheerfully, you will never win.
Today, traders believe all the so called Forex experts, with their junk robots and they can make a fortune for spending 100 bucks and suffer no losses – dream on, this is not reality.
Forex trading is a big boy’s game and the professional Forex trader takes his losses.
He knows if his system is soundly based he will hit a home run and clean up longer term – he has discipline and you must have it too.
Sure Forex trading involves losing – but this is actually the key to winning and enjoying currency trading success.