Going from just dreaming about Forex profits to really putting money you can use in your account is a journey every successful Forex trader must make. And this journey is a 3 STEP PROCESS! Sadly, most people who want to become Forex traders don’t go through all the steps, and therefore never succeed. Let’s go over the steps you must take.
Step 1: The Forex Dream
This is the easy one. You hear about the Forex market and understand there is a HUGE potential to make money. You’ve probably seen the stories of fortunes being made, and you want to get in on the action.
You start to dream about what your life would be like if you could learn to trade Forex successfully. Maybe you would finally have the financial freedom to quit the job you’ve hated for so long. Maybe you’d get a bigger house and a better car. Or maybe you would just enjoy the good nights sleep you’ll get knowing your bills are taken care of.
The first step starts by dreaming. It is here where you decide what you WANT as a result of Forex trading.
Step 2: The Forex Method
Well, now that you know you want to make money trading Forex, the big question is, HOW?
Most people start out by looking for the solution that seems the easiest and which will take the least amount of time, effort and money. This leads to buying automated Forex robots, custom indicators and other cheap systems that promise quick and easy profits. But as you’ve probably figured out by now, being successful is more involved than just learning a quick “system” from a $ 97 ebook.
The trick to get through this step is to find the Forex solution that fits your personality, goals and expectations. But finding the right Forex method for you is only part of the challenge.
Now you need to ask, “What am I willing to do to make it work for me?” And this brings us to the 3rd and hardest step.
Step 3: YOUR Forex Responsibility
You see, there are a lot of ways to trade the Forex market profitably. But none of them work if YOU don’t make them work. You were, are and always will be the KEY to your own success!
All too often you see traders complaining so-and-so method doesn’t work, xyz technique was garbage or Joe Smoe doesn’t know what he is talking about. Obviously, they gave something a try and it didn’t work out for them. But in my experience, 9 times out of 10 it is because they didn’t do what is necessary to make it work for them. (Yes, there is some garbage out there, but some great systems as well).
Once you decide you want to live the DREAM of trading Forex, you need to figure out HOW exactly you are going to do it. But there is one more step you need to make. And in most cases, this is the most important step of all.
Once you’ve figured out how you want to attack the Forex markets, dedicate yourself to doing whatever it takes to gain the experience and develop the necessary skills so you master the system. You need to work on your trader psychology and money management as well. Your success is dependent on more than just the trading system you use. How you trade the system and manage you money is just as important. In most cases of failure, the trader skips this step and endlessly jumps from one trading system to another).
Dreaming about Forex is easy. Finding a successful Forex method that fits your personality, goals and expectations is a little harder. But, resolving to do whatever it takes until you master the trading method is the hardest step of all. And sadly, this is where most traders fail.