What is the Secret of Forex Trading Success?

What actually is the secret of Forex trading success? There are lots of people online selling secrets but if they really had found the way to beat the market - they would be to busy making money to bother you for a few hundred dollars. In this article, I will give you a simple fact and from it, you will see the secret of success.

95% of traders lose in Forex trading but the paradox is anyone can learn to trade and win - so why do so many traders lose money? Our simple fact will reveal why...

the fact is that not only do 95% of traders lose today they lost 10, 20 and 50 years ago and this is despite all the advances we have seen in technology in the period. More powerful computers, software, quicker and better news and prices, have not changed the ratio of winners and the reason why is simple:

The ratio of losers has remained the same because human nature is constant and traders lose sometimes because they get the wrong education and most of the time because they have the wrong mindset.

If you want to win at Forex trading, you only need to use a simple system and if you do this, you will have a far better chance of winning than if you use a complex one which has too many elements to break. Simple systems work best and anyone can learn one - now I am going to give you another fact which keeps traders from winning and it's this:

Forex prices cannot be predicted in advance and periods of draw down or losses are inevitable. You will lose at times even the worlds top traders do and these periods of losses can last many weeks. Now when you are losing you need to keep your emotions out of your trading and keep losses small.

If you keep losses small the big trends will eventually come around again and you can run them for an overall profit on your account.

So you can learn a simple system and trading with discipline is a choice; make the right choice and you win. The secret of Forex success comes from within. OK Its not really a secret but its surprising how many traders don't know the key to Forex trading success.


SOURCE:http://ezinearticles.com/?What-is-the-Secret-of-Forex-Trading-Success?&id=4249932