subject: Forex Trading Secret - The Secrets of the Millionaire Super Traders You Need to Learn to Win! [print this page] What is the secret of Forex trading success? The answer can be found if you study the way the super traders trade the markets. These traders don't work hard, many have no formal education but they make big gains and the reason they do is they all share common traits which you need to learn to enjoy currency trading success, lets take a look at them.
Once you have read the traits the super traders have in common, you will have knowledge you need to enter the elite 5% of traders who make big gains so lets take a look at what the super traders all have in common.
The best traders keep their strategies simple! There is a myth you can beat the market, with complex mathematical systems but this is not true because the markets are not predictable and in an odds based market, simple systems work best. Simple systems are more robust and have fewer elements to break.
The best traders are patient and don't trade often. If you study the world's top traders very few day trade or scalp and most focus on the long term trends which make the big profits. Most traders don't have patience and trade to much and end up losing. If you want to make a big income, you can actually make triple digit gains trading just a few times a month.
The best traders tend to like to trade against the majority whereas, most losing traders fail to do this and always want to follow others. The real pro traders actually prefer trades contrary to the majority opinion because they know the majority lose.
All the great traders know, there are many ways to make money but the sure fire way to lose it is to let losses run. The top traders base their systems on cutting losses quickly. All traders will have losses and its how their dealt with which is the key to success. Surprisingly many of the top traders in the world lose 70% of their trades but pile up massive gains over the long term because their winners are so much bigger than their losers.
The best traders are not arrogant their humble, they know the market can't be beaten but they know they can win. They respect the market but they have no fear and have confidence in their trading system to follow it with discipline and achieve long term trading success.
If you understand the above points, you will see how you can win at Forex trading when the majority lose and the secret of success is not the trading system you use but your mindset when applying it. So if you want to win at Forex trading you can, a simple system is easy to learn and adopting the right mindset is a choice, if of course you make the right choice your all set to enjoy trading success.
Forex Trading Secret - The Secrets of the Millionaire Super Traders You Need to Learn to Win!
By: Kelly Price
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