When people first find out about the Forex market and see how easy it is to get setup and start trading, their eyes turn into dollar signs. The internet is littered with advertisements for trading systems and trading robots claiming they can return you ‘out of this world’ figures overnight.
All you have to do is buy it, fund your account, switch it on before you go to sleep, and check your millions in your account when you wake up in the morning. Unfortunately you wake up only to find out you’ve lost half of your capital!
The Forex world is filled with marketing scams and false claims. Marketers know how to play on your ‘get rich quick desires’ and seduce you into buying their product.
Remember the age old golden rule, if it’s too good to be true, it is!
Forex is not a means to get rich quick, you can certainly make good money from trading but you must treat it like any other job/profession. If it was so easy to get rich quick from trading, why are a high percentage of new traders a Forex trading failure and lose all their money? Be sure to understand what becoming a trader means and have realistic expectations about forex trading before putting your hard earned money on the line.
Treat your Forex trading like a business, and it has to the potential to pay you like a business. Successful companies invest a significant amount of time developing their marketing strategies and business models.
Invest time in creating a solid trading plan that you can stick with. These companies follow specific guidelines for business and they don’t deviate. In the same manner, follow your trading plan based on the rules you have set out for yourself. Keep yourself structured, color within the lines and don’t step out of the box or you will find yourself stranded making the same mistakes which hurt you in the past.
Happy Trading,
leotraderpku
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