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Online Forex Trading the Biggest Error you Can Make
Author: Sacha TarkovskyThere is one error that is common amongst novice traders and guarantees that they will join the 90% of losing traders.
The biggest error traders make in online forex trading is:
Traders, who think that others such as:
Mentors gurus and systems they purchase can give them success This needs a bit more explanation, consider this:
1. Why is the advice being sold?
Think about it if somebody is really a worthy trader why are they selling advice? The reply is most advice is sold by writers and failed brokers who cant make money from trading and simply make it selling advice!
You have seen them earn 10,000 a month easily, win on 70% of trades, an automatic way to make profits etc
Well if I could do that, I would hold quite and make myself a millionaire and wouldnt bother picking up a few hundred dollars selling the advice!
A bit harsh?
Maybe, but the above is true for over 90% of the advice sold on online forex trading.
Now not all advice sold is inferior but the vast majority of it is and even if you do some advice that is worthy this presents another problem.
2. Can you follow somebody else with discipline?
You will find it difficult to follow as its not yours.
You need to have confidence that the logic works and will work, even through periods of losses, otherwise you will not be able to follow the advice with discipline.
Many traders cant do this as they did not come to their own solution they can trade with confidence or discipline.
The fact is
We live in a society that teaches us to consult an expert or somebody else about almost everything.
We are not taught to find our own solutions, but the fact is if you want to be successful in anything you need the following:
Confidence, discipline and courage.
This you give to yourself and cannot get from somebody else.
If you want to be a success
Then you need to learn and teach yourself a method youre comfortable with and thats a lot easier than most traders think.
If you read stories of the worthy traders you will see they all came to their own solutions and applied their own methods ( check out Jack Shwagers worthy books that interview some of the best traders of all time in Market Wizards and The New Market Wizards ) all of them built their own methods and thats why they became successful.
If you think about it no one will give you success its up to you to make yourself successful and that goes for trading as well as most other ventures in life.
Do your own research, derive your own method and you will find the success in online forex trading that you desire.
Article Source: http://www.articlesbase.com/currency-trading-articles/online-forex-trading-the-biggest-error-you-can-make-121388.html
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Keywords:
traders advice trading make online forex sold success think discipline