I have seen time and time again that manual and automated forex system sellers always try to push the idea that people's lack of profitability is not "their fault" and that the problem is that the evil "gurus" and "insiders" are keeping secrets away from the masses so that they won't be able to ever make a dime in the financial markets. On today's post I will talk about why there is actually no such insider secret and why the failure of most people to gain profitability in the markets is actually dependent on each individual trader and the way she/he deals with the world of trading.
The first question we need to ask ourselves is : Is there a secret to profitable trading ? Is there a reason why profitable traders earn consistent profits in the market when the majority of new traders fail ? Is there a "secret" ? Is there something that if you know could bring you all that profit ? The truth is that there is no such insider secret. Talk to successful traders, read interviews from profitable traders, ask anyone who has proficiency in the financial markets and you will get the same answers.
There is no holy grail and no insider secret. What is the reason why most traders fail while these professionals make a profit ? It is hard work, knowledge, confidence and consistency. Do you think that fund managers and profitable traders just got a letter saying "the big secret" and then became profitable ? Obviously this is not the case ! In order to achieve profitability one has to put forward a huge amount of work and effort, profitability does not come by itself and it is a long way to actually be able to get your first profitable year in trading, an extremely hard way which will hold almost no rewards (in profits) till you begin to see the light near the end.
The fact is that if you want to succeed in this area you need to really build all this knowledge for yourself. Truly there is nothing anyone can tell you that may make you profitable from one day to another. You can take seminars, courses and do whatever else you want but in the end you will need to take everything that other traders give you and discover it for yourself.
You need to analyze the markets, practice your trading, come up with your own setups and methodologies, etc. Using the knowledge others can give you is useful but you will not be able to truly achieve profitability until you are able to get all that knowledge and understand it in its fullest through your own personal analysis. Always strive to understand everything you learn to the smallest detail. As I said on yesterday's post, confidence, not faith, will make you a profitable trader. For example, don't just learn "a move above the MACD 0 line is bullish", learn what the mathematical basis of the indicator is, what is the cross of the 0 line saying in a mathematical and trading sense, what does this tell you about the market ? Ask as many questions as you can about everything you read and find the answers !
The fact is that most people do hard work in the least productive way, going through an endless search for a holy grail system or strategy when their efforts would be much better spent in learning to develop profitable trading systems by themselves. In my mind I believe that people have the power to decide which way they want to go and it is definitely each person's decisions what determines their final outcome in trading.
Realizing that this will be a long journey and that it will require a lot of hard work is the beginning. If you would like to learn more about the knowledge I have adquired in my journey through automated trading and how you too can design and trade your won long term profitable systems profitably lease consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
The first question we need to ask ourselves is : Is there a secret to profitable trading ? Is there a reason why profitable traders earn consistent profits in the market when the majority of new traders fail ? Is there a "secret" ? Is there something that if you know could bring you all that profit ? The truth is that there is no such insider secret. Talk to successful traders, read interviews from profitable traders, ask anyone who has proficiency in the financial markets and you will get the same answers.
There is no holy grail and no insider secret. What is the reason why most traders fail while these professionals make a profit ? It is hard work, knowledge, confidence and consistency. Do you think that fund managers and profitable traders just got a letter saying "the big secret" and then became profitable ? Obviously this is not the case ! In order to achieve profitability one has to put forward a huge amount of work and effort, profitability does not come by itself and it is a long way to actually be able to get your first profitable year in trading, an extremely hard way which will hold almost no rewards (in profits) till you begin to see the light near the end.
The fact is that if you want to succeed in this area you need to really build all this knowledge for yourself. Truly there is nothing anyone can tell you that may make you profitable from one day to another. You can take seminars, courses and do whatever else you want but in the end you will need to take everything that other traders give you and discover it for yourself.
You need to analyze the markets, practice your trading, come up with your own setups and methodologies, etc. Using the knowledge others can give you is useful but you will not be able to truly achieve profitability until you are able to get all that knowledge and understand it in its fullest through your own personal analysis. Always strive to understand everything you learn to the smallest detail. As I said on yesterday's post, confidence, not faith, will make you a profitable trader. For example, don't just learn "a move above the MACD 0 line is bullish", learn what the mathematical basis of the indicator is, what is the cross of the 0 line saying in a mathematical and trading sense, what does this tell you about the market ? Ask as many questions as you can about everything you read and find the answers !
The fact is that most people do hard work in the least productive way, going through an endless search for a holy grail system or strategy when their efforts would be much better spent in learning to develop profitable trading systems by themselves. In my mind I believe that people have the power to decide which way they want to go and it is definitely each person's decisions what determines their final outcome in trading.
Realizing that this will be a long journey and that it will require a lot of hard work is the beginning. If you would like to learn more about the knowledge I have adquired in my journey through automated trading and how you too can design and trade your won long term profitable systems profitably lease consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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