9 Şubat 2009 Pazartesi


Do you have what it takes to become a successful Forex Trader?Forex
trading, or any trading for that matter, is an occupation that requires
experience and the accumulation of proficiency not unlike any other highly
skilled profession. Whether you are a leading executive at a major publically
traded company, a professional golfer or trading from your kitchen table, there
are 5 key ingredients that one must possess in order to become successful.1. You
must be Passionate about what you do.As Forex traders we all face one unique set
of circumstances that does not exist in any other profession. We get rewarded
for when we succeed and equally punished when we don’t! Could you image a
corporate worker one quarter receiving a significant accomplishment bonus and
the next quarter actually getting money taken from their paycheck for missing
performance targets? Not on your life!We do as Forex traders and that is why
passion for what you do will carry you through the tough times that are part of
your trading business. Asked yourself why you trade currencies and would you
still do it if Forex were not potentially lucrative? Your answers will be quite
revealing. You’ve got to feel your passion for trading!2. You have to Apply
Yourself and work hard at it.I talk to so many people that enter into Forex
trading with the aspiration of getting rich quick. Without putting the time and
energy into really getting good at trading I see them jump from strategy to
strategy looking for the goose that will lay the golden egg and eventually
quitting while blaming everything else, except the true cause.I got news for you
– you are the goose and your Forex education is the golden egg. The magic has
always resided with the magician and not some strategy. Work hard at trading and
the rewards will eventually come your way. Remember what Tiger Woods said,
“Funny, the harder I work the luckier I get.” Apply yourself as a trader and it
will be no accident when your account begins to blossom.3. You must Focus to
really get good at what you do.Now here is the hurdle most Forex traders
struggle to get over. You have the passion and you are applying yourself to your
trade, now focus and really get good at just at what you are doing. Be the
expert to the experts at just that one thing. Become the master of a strategy or
risk management methodologies. Really focus on getting good at it.Stop jumping
around or getting pulled from the last “latest and greatest” into the next
“latest and greatest” and focus on one aspect of Forex trading and know it
inside out. Know it strengths and weakness. Set your sights on becoming expert
on just one aspect of trading and watch it spill over in all other aspects for
your currency trading. This is the time to fail forward fast, use every setback
as a learning opportunity that will propel you 3-steps ahead!4. You must Push
Yourself beyond the point everyone else might have quite.In Forex Trading this
is simple. Assume there is someone on the other side of your trade that is
pushing themselves and sharpening their edge. To be successful you must you must
do the same thing. Now is the time to examine your mental edge. Do you know the
single most critical factor in any currency trade? It is you, the trader!
Sharpening you mental edge is the most difficult aspect of trading, but also the
most rewarding.Start with your Forex education and gain the self-awareness
necessary to maximize your strengths and suppress your weaknesses. Any expert
will tell you that trading is 80% mental. It’s time to sharpen your trading to
the razor’s edge and you do this through Forex education. A constant and never
ending process that will become the cornerstone of your Forex experience.5. You
must, without wavering, be Determined and Persist to your objective.You will
fail. I can state that emphatically. However, you will not be defeated unless
you allow your failures to control your trading. It is the old adage; failure is
not falling of your horse, failure is refusing to get back on. Your success
depends on your ability to dismiss the criticism, rejection, self-doubt and
pressures associated with Forex trading.Defining what is a winning trade, losing
trade and bad trade will go a long way into developing you as a successful
trader. Without the determination and persistence in all aspects of your trading
life, obstacle will definitely appear closer and larger than they actually
are.Take a moment and assess yourself and your trading. Do you have the key
elements to succeed? Which areas are presents development opportunities? When
conducting a self-evaluation it is critical to be totally upfront and honest
with yourself. After all, you will only be dishonest with yourself. One of the
most interesting observations you can make is that all key success factors are
interwoven. One factor supports the other. This is why your Forex education is a
continuous journey of forex strategy, money management and self-mastery. Set
these factors as your Forex education goals and take your currency trading to
new heights.

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