The importance of maintaining the right mindset to be SUCCESSFUL IN FOREX
Through my experiences with trading the forex markets for the last two years. I have been trying to delve into potential thoughts on what is an important set of ingredients in order to succeed.
I feel that having the right state of mind is all crucial. Therefore to go a bit more deeper into this what I have found about myself is that forex is a trading and money making tool for sure, however it is up to us how we perceive this tool.
Therefore I have always believed that forex is just a simple concept, where in which when the price goes up you buy accordingly and when the price goes down you sell accordingly. Obviously there other attributes to trading; however in its simplest format it is just about buying and selling accordingly.
Therefore if the concept is simple, it may be best to think may be the solution is simple to achieve success?? Yes or No!!! Therefore if you are like me I thought well it can’t be that simple and I am thinking nonsense.
Therefore I put this notion of simplicity to achieve success in forex on the backburner and continued my journey.
I then ventured to solve the key to success in forex. Thus I took on courses which showed and taught me lust loads about forex. Thus they showed me multiple theories, taught me about every indicator in the book amongst other things. The problem I found with these courses was that they did not have any concise theories and rules.
Concise theories and rules I feel was imperative which was lacking. Never the less I started trading these theories, thus my success was truly sporadic. I lost real money and was so up and down I didn’t know whether I was coming or going. Thus when one theory didn’t work, I went onto the next theory and tried even harder, and lost even more money. Therefore after trading these multiple theories for some time I thought I had to either quit forex altogether or try a new approach.
I felt that there was still potential in forex so I tried a new approach. From my experiences I had gathered that I need a simple theory, with simple rules. Thus in for me to understand this I had to train my mindset. Hence the mindset needed to understand that there was not going to be any shortcuts in order to achieve this success.
By jumping from theory to theory, there was no fruitfulness in this just disappointment. Therefore I came to the notion there are no hidden secrets in succeeding in forex via more complex theories, technical indicators or fundamental moves. It was about the state of the mindset in the way of patience, discipline and hard work.
In other words to be a successful trader it isn’t about how intelligent you are, or if you are missing a trick of some sort. It is about are you willing to accept that it is simple to achieve success however you have to master your own mindset first in order to accept this. You have to accept that hard work, patience and discipline sound very simple and easy on the outset. But believe me they are not easy to in still.
Hence I was lucky enough after a long road of toil and endeavour to find a course which changed the way I totally looked at trading forex. WAS IT EASY??? HELL NO. But let me honestly tell you it has changed my life.
Thank you for reading and your reponses and views would be most appreciated
Thanks and Regards
Gurpal