[Forex] Why Do Winning Traders Win, Almost All The Time?

Hello Friend, You've probably heard about this discouraging statistic somewhere... ...That in forex trading, 85% (or more) of traders are not doing well. That is a fact, I don't deny it. But it's only one side of the story. What your source of information did not tell you is -- What makes the 15% winning traders different? Remember the story of the two young traders? One of them belongs to the 15% who enjoys success, another the 85% (like "everyone else"). In the past emails, we have discussed a number of traits that make or break a trader's trading success. And today, in this last episode of our series, we will sum things up -- again using the two young traders to illustrate. It all boils down to one thing: whether the trader is an entrepreneurial trader, or a trader in the technical trader’s trap. The mediocre young trader is in the technical trader’s trap. She has great enthusiasm. Almost like an obsession, she would sign up for course after course to learn new methods... buy every expensive software and tool... jump from one website to another to read forex gurus' advice. There's nothing wrong in picking up new knowledge. But the problem is, she doesn't have direction. She does not know what she's doing, and doesn't bother to think it through. This young trader is also guilty of lacking the discipline to consistently follow a workable system. She allows emotions to rule her trading, and often depends on "gut feelings" to make buy/sell decisions. And the worst thing is, she treats forex trading almost as a gambler. "With high risk comes high profit; If I am in luck, I'll earn some moola". That's her guiding principle -- a recipe for disaster. The successful young trader, on the other hand, knows forex trading is a numbers game. She manages her capital well, and aims to stay in the game for as long as she can, until the probabilities work in her favor. She believes that trading is about consistently achieving small wins, and not hitting "accidental" home-runs. Forex trading is a serious business to her. She has a well-defined plan, trading system, and accountability method. She follows them strictly. Emotions like greed, fear, and unrealistic hope have no place in her trading. Is there any doubt why the latter will be a success? Now, think about this... Whose path would you rather follow: the former or the latter? What kind of forex trader do you want to become: a trader in the technical trader’s trap or an entrepreneurial trader? If your answers to both questions are "the latter", you need to check this out: I have designed a forex trading course for beginners like you, called the "Forex Foundation Course", that educates you to become an entrepreneurial trader. In this course, you will learn: - How do you get started in forex trading? First things first: Learn the fundamentals! It takes you only 45 minutes to pick up the forex lingo (pips, lots, currency pairs, spreads, base currency, etc etc)... find out the markets and currency pairs you can trade on... learn how you can make profits... and understand why forex offers "above average returns" compared to the stock market? - What are the forex opportunities? Why do banks, professional investors, financial firms, and hedge funds all trade forex -- and you should too? (This will help you to determine whether forex trading is really "for you", based on the profit consideration.) - The 3 pillars of trading success are: Analysis, Strategy, and Coaching/Accountability. These are part of the formula that makes you an entrepreneurial trader, and avoid the technical trader’s trap. How do you integrate them into your trading? - The 8 concepts in the Forex Analysis Toolbox. When you master these concepts, you can understand the charts and interpret the data to help you make consistent buy/sell decisions -- and trade like a true professional! - The 4 trading strategies for all possible market price action. To be successful in trading, you need to figure out which strategy fits your personality and preferences the best. But before you can do that... Do you know what strategies are available? Find out from the course. Find out also how you can determine your killer trading strategy. ...What are the forces that drive the prices to go up or down (we look at the supply/demand concept from the forex perspective, and why this matters to you at all). ...The trader's psychology (this will help you to decode the market trend. With this knowledge, you can mix the fundamental analysis skills into your technical analysis!) ...And much more! Why do you want to read piles and piles of materials to get started, when you can get just the right amount of information from the [Forex Foundation Course.]( Besides educating you on the technical knowledge, this course also sets your path right from the beginning, to avoid the technical trader’s trap and become an entrepreneurial forex trader! [Sign up for the course now.]( To your forex trading success! Best Regards, Jody Samuels Jody Samuels and The FX Trader's EDGE Team jody@fxtradersedge.com Disclaimer: Trading is risky so only risk capital should be used. [Unsubscribe]( FX Trader's EDGE 3093 Bathurst Street Suite #580 Toronto, Ontario M6A 0A2 Canada (416) 806-5321