The
Way to Trade Forex - Discover the
Successful and Profitable Trading
Strategies
"Failure is
a man who has not learnt from his
blunders. If you are able to cash in on
that experience you are on the path to
success" - Jay Lakhani, Forex Trader
It is a sad fact that
90% of traders fail, and many very
quickly give up. Why? When I went
through a phase of losing trades I
treated it as a temporary setback and
went back to the drawing board. I
analysed the reasons of my failure and I
sought the guidance of Top Traders,
Mentors and Coaches to put me back on
the path of success and profitability.
In my opinion the high
rate of failure for a new trader can be
related to the six major obstacles that
a trader faces, which are summarised as
follows -
Poor Skills
Lack of adequate
capitalSetting unrealistic
targets and goalsLack of Patience
Lack of discipline
High risk aversion.
If we look at the list,
it becomes apparent that the failure is
as a result of trading without having in
place a proper Trading System and a
Trading Plan- One that includes mind
training, quality Forex education and
strategies and sound money management
rules.
So what are the
Characteristics of a Successful Trader?
All we have to do is to reframe the
liabilities listed above:
Adequate trading
knowledge and understanding. You
should seek services of good quality
mentors and a trading coach.Adequate
capitalisation - Don't be fooled
that you can earn thousands every
week from a starting capital of $500Realistic Goals -
don't expect 100% profit each month,
it simply is not possible.Have patience -
don't trade if you don't have to.
You should wait for a set-up
according to your trading plan and
system.Have Discipline to
follow your rulesUnderstanding and
Managing RiskAnd lastly the most
important is having a Trading System
and a Trading Plan. Virtually 90% of
Traders that I have coached have
never had one!
If you look at the
advice from the world's most successful
people or traders today, you will notice
that they follow the guidelines as
identified above.
"Define first the level
of risk you dare assume. Start with a
small position, and then build it up if
it works" - George Soros
"Give me a stock clerk
with a goal and I'll give you a man who
will make history. Give me a man with no
goals and I'll give you a stock clerk" -
J.C. Penny
" If you go to
work on your goals, your goals
will go to work on you.
If you go to work on
your plan, your plan will go to
work on you. Whatever good
things we build end up building us." -
Jim Rohn
In this course, I will
attempt to turn you from an amateur
trader to a master trader. All you have
to simply do is to follow the simple
ideas and strategies put forward in this
manual. It is only
YOU who
is responsible for your success or
failure."I can show you the path to
successful trading - but YOU have to
make a choice to follow it or not."
- Jay Lakhani,
Forex Trader.
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Trade Forex - Discover the Successful
and Profitable Trading Strategies,
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