The normal work ethic does no apply in Forex trading and you don't get rewarded for your hours of work, just being right with your trades. The good news is if you spend less time on your trading, you can actually make bigger profits.
Most traders lose money in Forex trading because they fail to see the reality of how and why prices move and they also fail to understand the importance of discipline, in terms of achieving long term success.
Many traders are intimidated by the markets and think, they won't win because – they have no formal education but the fact is intelligence is not something you need to win at Forex. You need to adopt one specific skill and its one anyone can learn.
Read more: Intelligence – Has No Impact on Trading Success and How to Really Win
In this article, we will look at why holding profitable trends can be so hard for people due to the psychological problems it presents trader with especially novices.
Read more: Holding Profitable Trends – Overcoming Psychological Problems
If you look online, you will see a lot of advice which is presented as commonly accepted wisdom but if you think about it – if 95% of traders lose, then following common wisdom many not be such a smart idea. Here we will look at, accepted wisdom in terms of money management and why you need to ignore it.
Read more: Ignore Commonly Accepted Wisdom Part 1 Stop Loss Orders
