Despite the many available courses, tools, and systems offered to Forex traders these days, the dismal statistic has remained pretty much the same: the vast majority of traders lose money. Some say it’s about 95% of all traders. This means that 5% are taking the money of the other 95%. Still surprised that some people get rich on Forex?
The question is why is this happening?
In the past, you could say that it was a lack of education, a lack of knowledge, but can you still say this today?
Every trader has access to courses, training material, practically anything you would think is required to become proficient at trading. Sure, some traders can’t bring themselves to spend any money or put in the time to really get a course and learn from it, but even those that do make an effort are often still searching for the recipe to success.
What is missing? Why is it so hard to make it on Forex?
I believe that there is one missing ingredient to success that nearly all courses and trading programs disregard: the mental ingredient.
The amount of tension and anxiety involved in trading Forex is tremendous, seeing your money disappear, feeling the elation of a win, watching the market move from side to side like a ship in a storm, it’s enough to make the strongest person dizzy with emotion.
The problem is that no matter what kind of education you have, no matter which trading system you’re working with, until you learn how to deal with you emotions, until you learn how to work within this tumultuos framework of the market and still be able to function in an objective and logical way day in and day out, one trade after another.
Your mission should be to work on your Forex Mental Fitness and become a disciplined trader, the kind that doesn’t make costly emotional mistakes. This can save you thousands of dollars in avoided losses.
