8 Forex trading indicators that show why you might be failing at Forex trading. They are provided as motivators to Forex success and realistic expectations and goals to strive for.
We have been teaching online Forex trading for over 14 years now. Recently, we started a very good One-on-one Forex service where we guide traders to find great Forex trades on a personal basis. So what is listed below is from actual years of experience.
Now here are Forex trading truths we have found over those 14 years.
- Forex trading is very easy if you focus on the right things and don’t stand in the way of your own success.
- Forex trading is very easy if you focus on the right things and don’t stand in the way of your own success.
The duplication is on purpose. To make sure you read it the first time.
We have also found that we can give the very best Forex technique to a bad trader and they are likely to generate losses. We can also give the most basic Forex trading technique to an experienced trader and they will be successful.
Below are 8 Forex indicators that show why you could be failing.
Indicator 1:
Are you really a Forex trader? Forex traders actively trade the Forex to make financial gains. If you are not doing that right now you are not a Forex trader. It is likely that you are a Forex debater, commentator, experimenter, a hobbyist, a Forex socialite, a Forex student, using Forex as an attention grabbing interest or a Forex trading dreamer etc.etc. So decide what your relationship towards Forex trading and be honest with yourself. “The way to hell is paved with good intentions“, they say. There is nothing wrong with any of the relationships mentioned as long as you acknowledge your relationship towards Forex trading and adjust your expectations accordingly.
Indicator 2:
Are you focused? On 1 Forex website there are over 200 manual Forex trading techniques, 300 EAs and 200 indicators. The problem with Forex is there is too much choice. Too much candy in the candy shop. If you are not focusing and actively trading a very small number of quality techniques and at the same time NOT looking for anything new, then you are not focused.
Indicator 3:
Are you getting outside assistance? Our one-on-one personal Forex service offers the ability to discuss your own Forex trading and to review failed and successful trades with an experienced trader. This process has identified incorrect trading assumptions, bad trading decision making, ways to filter bad trades, introduction to new techniques etc. etc. Not a single trader has gone through this process without learning something that will dramatically improve their Forex trading. Professional golfers and athletes need a coach – what makes you so sure you don’t. The earlier you start with this process the less likely you will be to develop bad trading habits and produce consistent trading results.
Indicator 4:
Is it actually possible for you to be a Forex trader? Sometimes we want to be Forex traders but life gets in the way. You move homes, someone gets sick, you have pressure at work, your health is bad, you have no money, your time zone is bad, you have exams, you are on holiday, you have other interests, you would rather go fishing etc etc. Be honest with yourself – does your lifestyle actually promote Forex trading success.
Indicator 5:
Is Forex trading your passion? Why are you doing Forex trading? Is it a passion or just a means to another end? Do you love and enjoy Forex trading? Are only doing it for the money? It really helps if you have a healthy reason for Forex trading that is driving you towards success. Forex trading should be giving you joy and happiness.
Indicator 6:
Are you taking advantage of your opportunities? An example of this is that all traders who are doing the Finding Great Forex Entries Course are entitled to a weekly 30 minute (or more) session with their Forex trading guide. This is an open session in which anything related to Forex trading can be discussed. Yet only 7% of participants (yes, only 7% of participants)have booked the weekly sessions they are paying a lot of money for. Every week they are losing a valuable opportunity to find something that could turn their Forex trading around 180 degrees.
Most Forex traders have or have access to tools and service that will dramatically change their Forex Trading ALREADY but they choose not to that advantage of the opportunities.
Indicator 7:
Do you know too much about Forex trading? The most difficult Forex student is the one that know too much (has too much negative baggage). Although they are unsuccessful traders they can tell you 20 reasons why a particular technique which they have not traded will not work and why they personally will not touch it. Your mind is like a parachute – it works best when open. Unfortunately, those Forex students have by far the least chance of any Forex trading success.
Indicator 8
Do you have qualities required? Successful Forex traders are focused, no nonsense, active individuals. They are in charge of their own destiny and are great problem solvers. When they hit a problem they know how resolve it immediately. Many are self reliant and take full responsibility for their actions. Most think very clearly and are very specific. They develop all the trading skills they need (not only those in their comfort zone). All can make decisions using limited or conflicting information. Almost all accept losses as learning experiences. They can make lots of money with a 40% success rate. Very few look for any short cuts or assistance. They never pay anybody to do their own push-ups. Most react to challenges in an active positive way. They don’t believe anybody and only learn from their own experience. Very few wait for anybody to tell them what to do.
If you are doing the opposite of any of the above points it could be a Forex Trading weakness
Please review these 8 Forex Success indicators honestly. I hope they have given you something to think about in respect of your Forex trading results.
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