Living the Dream – Facts on Becoming A Pro Forex Trader From Home

It’s the dream of all Forex traders to set up a business they can make huge profits from and do it from home. No boss, any long hours - just big profits! Is it possible?

Yes it is but you need to keep the following facts firmly in mind.

Fact: Anyone can learn to trade

It’s a fact that anyone can learn to trade and everything about trading can be specifically learned by those traders prepared to put in the time and effort to do so and this was clearly demonstrated by the following:

In 1983 in a famous experiment legendary trader Richard Dennis taught a group of people with no previous experience to trade in 14 days.

The result?

They went on to make Dennis $100 million and become some of the most famous traders of all time.

Fact: While Anyone can learn to trade correctly few do!

The fact is that 95% of novice traders quickly lose their money and lose!

So if it’s possible for anyone to learn why do they not do so?

The reason lies in the fact that many traders learn the wrong knowledge and also fall victim to their emotions. You need to work smart and learn the right knowledge – this is totally different to working hard and the rewards if you focus on the RIGHT information are huge.

Fact: Obtaining trading discipline is the hard part.

Most traders can learn a method, but applying it with discipline is the hard part.

keep in mind if you don’t have the discipline to execute your method with discipline you have no method in the first place!

Fact: Trading success comes from within

To get discipline in your forex trading, you need to have confidence in what your doing and most traders don’t take the time and trouble to learn the basics to do this and fail.

They continually believe mentors, who tell them by following them they can achieve success by simply following them. Well the fact is only you can give yourself confidence by learning the basics, by doing so you will give yourself confidence and from confidence in what your doing - comes discipline.

Fact: Most Traders can’t handle risk

They are so afraid of risk they actually create it.

They let losses run, snatching profits early - giving them no chance of success.

They effectively try and restrict risk so much they actually create it and guarantee that they will lose.

If you don’t like risk don’t trade, it’s as simple as that.

Successful forex trading is all about taking risks at the right time and executing trading signals with confidence and discipline.

Fact: Most Traders Predict and lose

If you want to trade successfully you must forget about predicting, as this is simply another word for hope and if you hope in any venture in life, you will lose.

They buy into levels of support and hope they hold – well that’s a great way to lose - Or they believe in ridiculous theories such as Elliot wave and Fibonacci, which say you can predict market movement and reduce trading to a scientific method.