Focus and never give up is the main key to success in Forex Trading.
Even though my work is still safe, I understand very well that one day it is no longer like that. It is a recession-resistant skill that no one can take from me regardless of how bad the market conditions are. Throughout the year, from Forex trading I often get more money even though market conditions are weak. That made me make more money than my colleagues. Including those who have obtained senior positions in large companies.
Of course this is not an easy problem for me at first. When I first started trading for myself, I thought that as a CFA charter holder. And having worked in a good investment company, I always outperformed most other tenacious traders.
Trading now and don’t delay anymore.
So, I started with an account of US $ 20,000 to trade options in the United States (US). The purpose of my transaction is to generate monthly income that exceeds my monthly salary, and maintain it for three consecutive months. I told myself that after I achieved it, I would then quit my job and become a professional trader.
After that, all the intentions did not go smoothly. In fact, what happened was less than expected. After three months, my remaining trading account balance is only US $ 500 !. I lost more than 95% for forex trading that I did. How did it happen?. Don’t I really know about forex trading?
Make failure a lesson to continue to improve.
This is not a common mistake that a great professional will be a good broker. Many of them only receive salaries and look very experienced with their knowledge of the market. The problem with forex trading is that the average person can be more successful. Of course if he promised himself to master the principles of forex trading.
Continue to try to focus on the goals that have been made.
After almost draining from my first forex trading account, I made a serious evaluation of what was wrong. I evaluated that many people gave up on trading again after their first forex trading account was almost gone. However, I have decided to succeed in this business. The motivation is strong. I know that I already have it to become a successful broker. I know that I just made some adjustments to my mindset, and the management and risk strategies that I use.
Finally, I repeated my transaction with a much smaller account of US $ 1,000. And this time the transaction was much greater discipline and control. As I will tell in more detail in another article. That is, how to master trading psychology often makes a difference between winning brokers and losers. This is what became my main concentration as I immediately pursued the objectives of forex trading.
Of course, I spend a lot of time developing and testing various types of forex trading strategies. However, I will say to you, without worrying about mistakes, that the expertise to regulate emotional responses to markets that will determine your success coherently for a long time as a forex trader.
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