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Currency Trading Lessons - How I Turn Failure Into Success in Forex Trading

Many people who have not really traded in the market think that forex trading is very simple, it's easy to earn quick money and get rich fast. Well, from my years of trading in the forex market, I can tell you that it's not that easy after all if you do not understand the market well. When I recall the past, I'm happy to say that I was determined enough and did have a mindset for success before I became successful in forex trading.

I think I was like a lot of people before, whenever I saw any forex signals, I will start reacting to it and trade without thinking much... not planning...not strategizing. So I hope you are not doing what I did last time! I understand that some of you might have frustrations now, because those forex system you bought out there doesn't seems to work or if it works in the short term, it does not give the kind of expected results you want in the long term. Many people will complain things like:

- "Why does it seems to work for other people, but I just can't get it right."

- "What's the trick to become a successful trader?"

- "Am I using the wrong set of forex trading strategies?"

- "I'm trying very hard, but I still lose to the daunting forex market!"

Don't worry, you're not alone. About 95% of people cannot win in forex because either they do not have good money management, a proven forex trading system, patience, discipline or they can't get past their emotional/psychological barrier.

Other than that, what is stopping you from succeeding is mindset. If you do not have a strong and correct mindset, where do you find motivation and determination to succeed in forex trading? So when you lose a trade, or after a string of losses, you should ask yourself what has gone wrong and you will strive to do the correct stuffs next time round without making the same mistake.

A lot of traders gave up easily just because they lost some trades and think that it's impossible to succeed or they have busted their trading capital. So if you really want to succeed in forex trading, you have to keep a close look on your money management to make sure you have enough capital to continue trading. You must also be patient, give yourself some time to learn and be fair to yourself, no one can succeed the first day when he comes into forex trading.

Article Tags: Forex Trading

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


To learn how to trade forex successfully using a simple, proven forex trading system, download my FREE 56-page ebook at http://www.forextradingpower.com now.

The author, Daniel Su, is the founder of http://www.ForexTradingPower.com where you can get free premium forex trading tips and resources.



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