akeakamai, talent exists in imagination of those who perceive hard, laborous work. talent is an excuse for not doing that job yourself, when you see someone else succeed - “They just have a talent I don’t have”. But talent is a suitcase word. it has no attachment to an object, or a practice. It is one of those words that exist in human imagination as an excuse.
A person who is a master of his craft, when asked: “how do you do it?”, will never respond with something like “I just have a talent for it”. What they will say is that they practiced, gained knowledge and experimented for a long period of time.
What you say is absolutely correct. Practice and knowledge put you above the crowd, exponentially so. And so, if this is indeed the way it works, why nobody just does what it takes to get there and become a master of Forex, or, for that matter, any other industry? Well, it is just people. They rarely want to work hard, and plenty of times they are just simply not smart enough. Intelligence plays a big role in being successful as well. But this isn’t to say that “if you are stupid you won’t succeed”. It’s not like that… it is not derogatory. It is true, however that every one of us has a different type of intelligence, knowledge and experience. As beginners of trading something as serious as the largest money market that has ever existed in the history of humanity, we are taking things too lightly. We think about it in terms of computerized trading, where the charts appear on the screen, and we can “click around and about” to make trades. This isn’t serious. It takes a little more than that. Being focused on what you do is one of those things. The basic knowledge is a must.
You must know why a short position is called a short, or long called a long. You must know these reasons for how people initially made up this trading terminology. If you don’t chances are you are taking other information not as seriously as you should. Forex is a job, like any other job. It is time consuming. It requires focus, dedication and love for what you do. Some people leave their day-time jobs to trade forex (or, for example, to start a blog in hopes to monetize it), because they want to avoid the hard work of having to wake up early in the morning, commute to work, deal with coworkers and bosses, and so forth… Don’t you guys see that, when you start trading forex, that doesn’t really change… you are looking for an easy way out. You are doing exactly the same thing, and that is why you are not succeeding. Because it doesn’t take a person such as that to become successful. In a way, this is a lesson in personal development. If you lost $1 to $20 to $50 and more thousands of dollars in forex as a ruthless beginners, I don’t feel bad for you. We all only ever learn the hard way.
Another significant reason for why we do not succeed, is because we have no immediate reward. If you know anything at all about the recent developments in the science of the human brain, you will know that the reward mechanism is a very important thing in our every day life. When we start trading forex, we are excited about it. But the more we do it, the more we start to feel that the slope of the hill we are walking is becoming steeper and steeper. We press harder, we struggle, we try to adapt, but it falls apart – we lose big money. We feel no reward what-so-ever for our labourous work. Did I do something wrong? Am I just not smart enough? Is trading successfully just an illusion? Most other people probably don’t really succeed in trading forex. . . These are the thoughts that start to enter our brain. We leave forex and never return to it again, making a justificatory excuse for what actually happened – we were defeated. No reward for hard work, no inspiration. But what if I said that there is such thing as a reward when trading forex. We just need to think about it a little different this time around. How we are going to do it, I explain further on my forex blog: Forex Risk Management - The 2% and 6% Rules. that I just started.
Ask yourself, do you really enjoy trading? Or is this a power-trip for you where you are in command of thousands of dollars at the click of a mouse button? The latter is a dangerous thing.