That' S Why I( And Most Forex Traders) Continue To Fail

So why do a large number of Forex Traders eventually fail? On the day I started forex trading( years ago) , I thought that I would quite soon be in the money.

I was a failed trader, and here is why. I was entering a multi- million dollar online business where a smart lad like me just couldn' t fail to make loads of easy money. If I took time to learn the best forex trading techniques and carefully avoided the obvious pitfalls, I' d be a top forex trader in no time at all! Yes, I had read that more than 90% of forex traders fail, but hey- I' m different- I' m a college graduate! I put my money into the best forex training course I could track down, it was wholly dvd- based, and cost me$ 450There were about 14 hours of good quality forex instruction, and useful software applications, free forex signals feeds, all set up with my user names, passwords etc I also got a forex spread- betting account. I also got access to the author's private web site and could review his daily progress.

That was very attractive- I could use tax free trading! Every evening I would review his trades and listen to his comments, and learn how many pips he had made( or lost) . So I thought, if he can do it, I can do it! Most days he made around 20- 35 pips- mostly in the GBP/ Dollar market. This would be very easy! I watched the entire dvd set which took me a couple of days. The course covered every aspect of trading, preparation, including record keeping, paper- trading, even the psychology of your average forex trader.

Then I re- watched some of the dvds, mainly those covering forex trades and specific forex techniques. So I logged on and added cash to my spread- betting account( I think it was about$ 4, 000) but I was already dreaming of the fast cars and speedboats I would soon be driving. I couldn' t wait to begin. That was several years ago. Actually- no! Do I now have the fast car or the boat?

Have I made a pot of gold? In fact I' ve lost lots of money! Again not quite yet! I still haven' t lost my confidence in the forex market as a wonderful way to make money online, that's because I' ve met so many forex traders who continue to make very good money. So I decided it must be my system! I just know it can be done, I' ve repeatedly seen it happen. I stumped up even more money, I invested in the best web- based forex trading systems- after I had very carefully studied their testimonials and seen that other traders were making some serious money from them.

Forex trading books, even books listing, forex training books and reviewing forex systems. I also bought even more books. I even bought another forex training course and some financial guides, I studied day- trading systems next to longer- term trading systems- I was totally determined to succeed in making money in forex trading. No, not yet! I must be making money by now then? But I think I am beginning to understand where the problem is and why I' ve failed so pathetically. Little old me?

It pains me to admit it, but I think the problem may be ME? Naah, impossible! Even using a proven winning forex trading system, I would lose lots of money. I now felt that my own personal approach, my own methods, my own style, they were all letting me down. And for a long( and costly) time, I didn' t even realize it. So I did some more research.

It wasn' t because I hadn' t invested enough money either. I now learned that it is possible to obtain a winning forex- trading system for not much money at all, and that even one of the top courses can cost surprisingly little. It is nearly possible to totally set up to make some serious money in the online forex markets. There are a whole range of inexpensive forex resources and training available online. Almost? What's missing then?

Almost? What's the difference between a winner and a loser in the forex world? I didn' t take long to work that one out! Who else could I consult about becoming the total and complete trader? Once I took the blinkers off I realized that it had to be me. Words like resolution, dedication, concentration, honesty, self- discipline, all came into my mind. I had to admit to myself that I am not nearly as clever as I thought- I soon identified a whole boat- load of personal deficiencies that prevented my success.

I had not used sufficient of any of them! It came as a free bonus when I purchased some trading software from my favorite forex web site. By chance I managed to lay my hands on a very useful booklet. This booklet made no attempt to teach me to win with a forex trading system, it covered only the attitudes and trading styles of quite a few forex traders, and why the majority of them still go on losing money. Well- it was obvious that the problem is inside of my head! What did I learn? Like the majority of forex traders I am just unable to stick to the systems I have learned.

But luckily my new booklet not only pointed out my problems, it also showed me some quick( and obvious) solutions. That's why I( and most forex traders) continue to fail. I' m trading a lot more profitably right now. They are still giving it away free to purchasers of anything from their site. As a thank- you to the site owners, I' ve taken their little booklet and re- written and expanded it, and handed it back to them. The book is called The Missing Link, and as I said, it's still free and still worth every penny!