[postlink]https://forex-tech21th.blogspot.com/2010/03/forex-trading-made-simple-how-to-make.html[/postlink]Forex trading can it be really made simple, when 95% of traders lose? The answer is yes because the people who lose don't understand what's required to win in terms of FX education and mindset and it's a fact, anyone can learn to win if they want to and this article will show you how.
Let me start with a story and its to do with a famous experiment conducted by Richard Dennis he believed that anyone could learn to trade with the right guidance and he proved his point by, teaching a group of novices to trade in just two weeks and the rest is history as they went on to make several hundred million dollars. Were these guys nerds or geeks? No, they were just ordinary people - a security guard a lady clerk and a kid fresh out of high school, to name just a few.
Now before we look at how they made money, lets look at what a huge group of novice traders do which is to trust their money to a cheap Forex robot. This group of losers, believe that by spending a hundred dollars or so and making no effort, they will become rich and they all lose. These systems cost so little because they don't make money and if they really did win, 95% traders wouldn't lose money.
Of course as in any profession, you need to make an effort and while some study is necessary for the amount of time you have to put into your trading, the rewards are enormous, as the students Richard Dennis taughtm showed in terms of their trading results. More good news is that the best Forex trading systems are simple not complex; if you make a system to complex it will have too many elements to break.
The system Dennis taught was a simple long term trend following strategy which was based on breakouts and it's easy to understand but quite hard to apply and the reason for this is it has far more losing trades than winners and it takes courage and discipline to cut losses and run profits.
Most traders can't take losses and let them run and over ride their trading signals and lose but if you can't follow your system with discipline, you don't have one. All the traders taught by Dennis said learning the system was far easier than applying it and this is true for most traders.
The reason 95% of traders always lose is really down to the wrong mindset but the good news is getting the right mindset is a choice and it's one you can make; if you combine the right mindset with a simple Forex trading strategy, you can make big profits.
Many people, try to make Forex trading much more complicated than it really is and hence the article title Forex trading made simple - it is! As you can see from this article, anyone has the potential to win at Forex and you don't need a college education to do so.
Let me start with a story and its to do with a famous experiment conducted by Richard Dennis he believed that anyone could learn to trade with the right guidance and he proved his point by, teaching a group of novices to trade in just two weeks and the rest is history as they went on to make several hundred million dollars. Were these guys nerds or geeks? No, they were just ordinary people - a security guard a lady clerk and a kid fresh out of high school, to name just a few.
Now before we look at how they made money, lets look at what a huge group of novice traders do which is to trust their money to a cheap Forex robot. This group of losers, believe that by spending a hundred dollars or so and making no effort, they will become rich and they all lose. These systems cost so little because they don't make money and if they really did win, 95% traders wouldn't lose money.
Of course as in any profession, you need to make an effort and while some study is necessary for the amount of time you have to put into your trading, the rewards are enormous, as the students Richard Dennis taughtm showed in terms of their trading results. More good news is that the best Forex trading systems are simple not complex; if you make a system to complex it will have too many elements to break.
The system Dennis taught was a simple long term trend following strategy which was based on breakouts and it's easy to understand but quite hard to apply and the reason for this is it has far more losing trades than winners and it takes courage and discipline to cut losses and run profits.
Most traders can't take losses and let them run and over ride their trading signals and lose but if you can't follow your system with discipline, you don't have one. All the traders taught by Dennis said learning the system was far easier than applying it and this is true for most traders.
The reason 95% of traders always lose is really down to the wrong mindset but the good news is getting the right mindset is a choice and it's one you can make; if you combine the right mindset with a simple Forex trading strategy, you can make big profits.
Many people, try to make Forex trading much more complicated than it really is and hence the article title Forex trading made simple - it is! As you can see from this article, anyone has the potential to win at Forex and you don't need a college education to do so.
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