Forex Trading and Perspective
Most “not-traders” have different perceptions on forex trading – some people think working from your home is easy because you just click buy and sell buttons all day, while some people think trading forex is very complicated where you need to know about economies, fundamentals, charts, follow the news,.. you name it!
If you never tried to learn to trade, you hardly know what is the progress of learning to trade, what skills and habits you need to learn and apply, and where to start to eventually become the best forex trader you can be.
Myth of “trading is hard”, it is not true. It all depends on how you look at things, and your perspective on it. I tell you what – working in the mine is hard, working as a slave is hard.
If you started with trading because of your passion for the markets, yours learning curve progress should not feel like is hard. It is just the progress as in every other business and everywhere else.
Everything is step-by-step journey. You will face some frustrations along the way, when you start learning to trade the markets, but always understand is all part of the progress – you go 2 steps forward, 1 back, 6 forward, progress slows down, you go forward and so on and on!
When you have your own forex mentor, guidance and when you know what you are doing and have a passion for it, trading should not feel hard, and you will probably enjoy the progress of developing as a trader and person. It is all about persistence and determination to become a great trader. Only if you are persistent and determined you can become a good and consistently profitable trader.
“I lost few trades in a row. Trading is so hard!”
“I went long, and market hit my Stop-Loss after. Trading is so hard!”
“Market did not move a lot, and I didn’t get any trade this week. Trading is so hard!”
Focus on the Process
Trading technically is not hard, anyone can learn to analyse the charts, and make analysis for currency pairs. When traders say trading is hard, it is hard for them because they make it hard! They make it hard because they focus on the wrong things that leads to their wrong trading mindset. Instead of learning from their actions, process, trades and mistakes they rather focus on looking for a new trading strategy, changing their rules on day-to-day basis, or watching the screens without any purpose and goal, worrying about one trade etc…
Things such as changing the strategies, rules or watching the screens alone will not make you a better trader, and will now help you to improve your trading. Key is in “boring” tasks and habits. Majority of traders neglect the power of “boring” tasks and habits. Habits such as planning your trades and reviewing your past trades and performance…
That’s where the change in your trading comes from. When you focus on doing your homework and review your progress without any excuses. When you deal with frustrations with open mind, persistence and determination. When you understand every frustration is here to test you and help you to become a better trader tomorrow!