Forex trading is tough. It's definitely not for beginners. 95 percent of all new traders quit forex after a few months trading. This can be due to several factors such as huge lost of investment, discouragement from family members and forex broker scams. The 5 percent who ultimately stay and continue their forex education ultimately succeed and some will become forex mentors and gurus.
If you are new to forex, I sincerely suggest that you consider quitting. Forex trading is not for the weak. If you think that forex is all about buying low and selling high and a low-risk investment option, then I recommend that you consider your options. It is better for you to invest in gold and focus on your gold retirement then waste money tinkering with a niche that will lead you to more failures.
Some of you might be up to the challenge. You are not afraid to lose and you are willing to make any amount of sacrifice to achieve your financial goals. These are the character traits needed to become a truly successful forex trader. Forex can help you make wealth but it will involve a lot of hard work. The main thing here is that you must be willing to put in the time and effort to make this work for you.
What do you need to do to make forex work for you?
1. Consider the risks involved before deciding to enter this field. You might need to deposit large amounts of money with a good forex broker. At the same time, you cannot totally rely on your forex broker as there are many instances where forex brokers are known to prey on their customers.
2. Get a forex mentor to speed up your forex learning. Getting proper guidance is vital if you want to become successful in the shortest time possible. You can learn forex trading on your own without a mentor but be prepared to spend years to learn the trade by trial and error.
3. Develop a strong mindset. You don't need to be super intelligent to be a good forex trader. However, you need to be really strong mentally and emotionally when entering into the forex market.
Forex trading can make you rich beyond your wildest dream but the path to wealth is paved with a lot of pitfalls and challenges. In the forex world, only the strong survive.
If you are new to forex, I sincerely suggest that you consider quitting. Forex trading is not for the weak. If you think that forex is all about buying low and selling high and a low-risk investment option, then I recommend that you consider your options. It is better for you to invest in gold and focus on your gold retirement then waste money tinkering with a niche that will lead you to more failures.
Some of you might be up to the challenge. You are not afraid to lose and you are willing to make any amount of sacrifice to achieve your financial goals. These are the character traits needed to become a truly successful forex trader. Forex can help you make wealth but it will involve a lot of hard work. The main thing here is that you must be willing to put in the time and effort to make this work for you.
What do you need to do to make forex work for you?
1. Consider the risks involved before deciding to enter this field. You might need to deposit large amounts of money with a good forex broker. At the same time, you cannot totally rely on your forex broker as there are many instances where forex brokers are known to prey on their customers.
2. Get a forex mentor to speed up your forex learning. Getting proper guidance is vital if you want to become successful in the shortest time possible. You can learn forex trading on your own without a mentor but be prepared to spend years to learn the trade by trial and error.
3. Develop a strong mindset. You don't need to be super intelligent to be a good forex trader. However, you need to be really strong mentally and emotionally when entering into the forex market.
Forex trading can make you rich beyond your wildest dream but the path to wealth is paved with a lot of pitfalls and challenges. In the forex world, only the strong survive.