What Your Mother Never Told You About Trading
Guest post from visionsofaffluence.com
If you think that trading is going to be a magic bullet that is going to make you rich overnight with little effort then I’m sorry to have to be the one to break it to you but you are dead wrong. I mean I don’t blame you for thinking that because from the outside looking in trading does look pretty easy. You look at trading in the movies and on television and what do you see? A bunch of guys sitting around at their computers looking at charts and making obscene amounts of money, and once you go online you are bombarded with ads hyping some system that is going to make you rich overnight. All of this adds up to people having unrealistic expectations as to what it takes to make it in this business.
The reality is that it takes a lot of hard work and dedication to become a successful trader, but the media and marketers never show that. They never show the hours you will spend going over charts or the money you will lose when you first start out. They never show the emotional turmoil you will go through as you lose trades over and over and begin to feel like you will never make it as a trader, and most importantly they will never show you what it truly takes to be a successful trader and that is perseverance.
That’s right most important thing a trader can posses is the ability to persevere. You can have the best system in the world and the fanciest software, but if you don’t have what it takes to make through your early days as a trader then you will never make it in this business. Success is not going to happen overnight it takes time and effort, but if you are willing to work through the tough times then there is no limit to what you can accomplish in this business.
So to all my aspiring traders out there don’t give up. I know how hard it is when you first start out and you have no clue what is going on but don’t let it discourage you because the reward in the end is truly worth it. You may feel like you are the worst trader in the history of the world but if you are willing to keep struggling and keep learning then I promise that you will be successful. You just have to keep working.
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See what other traders are doing in real forex accounts. Check out Currensee. It's free..
Thanks for the inspiration. I’m feeling like ‘the worst trader in the world’ today after all my positions got wiped out!
Completely true, people think its easy and movies show a lot of guys making huge ammounts of money but when you start you spend hours looking at charts and making a trading plan for the ext day or the next week trying to figure out things that no one knows
PD: traders in south america have a myth, that if your first trade is negative you will be a succesfull trader
Sure FOREX isn`t the place of euphoria. It is hard work to become successful trader from simple trader and my mother never told me about it
Dedication and hard work, plus a lot of patience and enough bankroll, are all necessary ingredients for success in Forex trading. JMHO. Thanks for sharing, good article!
The only way to become a profitable trader is through hard work. When I quit chasing every qet rich quick method and rolled up my sleeves and learned how to trade I became consistantly profitable. I have had plenty of chances to give up along my five year journey. There have been some huge dissappointments along the way. I had to keep the dream alive.
I recently was at a trading event attended by several hundred people. The trainer was truley a phenomenal trader, who had turned several thousand dollars into over 100 million in about 5 years. I remember looking around the room at “green traders”. There was so much excitement about the prospect of “easy riches”. I remember telling my friend who was there with me “If these people had a clue as to what they are in for, most of them would get up and walk out the door right now”.
Trading is the single hardest endeavor that I have ever attempted to master. It requires a mastery of both skills and emotions. It will cause you to examine the deepest, darkest places in your soul. It will test your resolve beyond measure. If you can learn and practice the disciplines needed to become successful you will join an elite few who have taken the same journey, and you will enjoy the freedom and wealth the most can only dream about.
A wise king once said “if any man endeavors to build a great house let him count the cost”.
This statement has never neen more true as it is in regards to currency trading.
Hang in there baby! You can do it!