What is the Key to Forex Trading Success?
Here it is! 100% free for you.
There are many aspects to being successful, just like in baking a cake! If I made you eat a cup of flour you would not like it! If I asked you to eat two raw eggs you might be grossed out. Now please eat this 1 tablespoon of salt. Oh and here is a half a cup of sugar for you. Would you like some baking soda to wash that down? Yuck!
Put it all together in the right order and temperatures, give it some time and you have a yummy cake.
In order for you to thrive as a trader you must survive! It takes the following in order to survive:
#1 Great understanding of trading psychology. Trading is literally 80% psychology so don’t leave the number one key ingredient out!
#2 The accumulation of knowledge. This can be done through books or courses but for me, candlestick price action is the key!
#3 Wisdom. That takes time! Patience and focus coupled with discipline and chart time, watching… calculating… thinking about market flow and what is happening.
And the number one, super-duper high powered magic ingredient of all time…. is…..
#4 Trade so crazy small that no one trade can make or break you! Learn to take 5 to 12 pips on scalps thousands of times. Learn to take 15 to 50 pips on intraday swing trades thousands of times. Learn to take 100 to 500 pips on swing trades countless thousands of times!
Start with .01 lots until you’re very, very good and consistent. Then move your size up to .02 lots for a week or a few…. the choice is up to you! Do this over and over and over again. Forever.
One day you will be at .10 and someday you’re at .20 and .30 and heck one day, years down the road, you may trade at 1.00 full standards on every single trade you ever do.