Guidelines to Being A Successful Forex Trader Pt. 1

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By swanlin


Don't think you can predict the future.

I used to think that all those successful forex traders out there are members of an elite club where they give out the secrets of the market. They've got it figured out. They know how to predict where the market is going to go. Secrets that stay elusive from me for a long time. God know how hard I tried to find out what their secrets are but I just keep losing.

It then took me a long while to understand that no one really knows. None of these big shot traders have a clue what's happening to the market. How it's going to move, when or where, nobody knows! Any one who proposes to have a system that gives you 90% of successful trades is either delusional or scamming us. When this realization came upon me, I was immediately relieved of the frustration I felt for so long. I realized that it's not the strategy I use, but how well I control my fear, greed and discipline. The secret is really inside me and has nothing to do with what strategy I use.

You do not need to be a magician and try to predict the future. The prediction is not important. What is important is sound trading practices. You need to recognize that discipline in sticking to these trading practices is crucial to your success in trading.

I'm now a profitable trader using the simplest of strategy, breakout of the Asian session of GBP/USD. I am at peace whether I win or lose, and I've been steadily increasing my account balance.

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