Forex training courses nowadays are competing to offer lessons on comprehensive trading skills… the latest “million dollar trading systems”… fancy (and expensive) software and tools… and so on.
That’s probably because there is a large demand in the market — traders think these are what they need to make them successful.
Sadly, both the Forex trainers and traders are missing the point.
Don’t get me wrong, I am not saying that these are worthless. As a Forex trader, you need to be armed with the right technical expertise (and be very good at it!), a proven-to-work system, and effective software and tools. These are all fundamental, because without them you can’t even start trading.
The problem is, they are merely the “technical side” of trading. They alone won’t get you far. You cannot reasonably expect them to carry you into the group of the “15% winning traders”.
Let me illustrate my point with the following case between Chef Felicia and Chef Sandy…
Felicia and Sandy are experienced chefs. They plan to open their own restaurants this year.
Both of them are good in their culinary skill. Well, actually, Felicia is slightly better than Sandy, because she devotes most of her time refining her skill, learning new techniques, and studying the use of tools.
Sandy doesn’t stop improving her cooking skills either (but she’s just less obsessed). At the same time, she’s also training herself in other things that Felicia isn’t — the business know-hows, and the skill to manage a restaurant.
Think about this: All other conditions being equal, who do you think has a better chance to become more successful in her restaurant business?
I believe you get my point. Similar to the case of the two chefs, the technical side of your trading alone will NOT give you the edge to grow as a successful Forex trader. It will NOT pave your path into the “15% winning group”.
To be successful in Forex trading, you must learn to manage your trading (just like Sandy, who learns to manage her restaurant). You have to treat your trading as a serious business, and do unto it everything that is necessary to make a business prosper.
This, is the Missing Ingredient for Success in Forex trading.
As you sit there reading this, you should have seen how this paradigm-shifting concept is vital for your trading business.
This may be the first time you heard about it. Don’t worry if it is new and foreign to you, because I am here to give you complete guidance on this, in the…