So in today’s video, we’re gonna be talking about Forex trading success iceberg.
You know, in life, many people focus on the glory but they don’t look up the story. The funniest part of it is that even people, people are so much interested in your success story, you know, they don’t really know how far you’ve been through, how far you have gone. And that is why today we are going to be talking about factors that are responsible for your success in forex trading.
You know, I have so many groups and forums and I see people whining, I see people complaining, I see people with a free mentality, people with microwave mentality. You see, I just feel like should create this video today to let you know what is really, really responsible for our success. I’ve been trading for it since 2006.
So when you look at it, that is 14 years. So if I say, okay, maybe whatever result am getting today is not an overnight results. You know, burnt accounts. I mean, account with ‘s’. I have used it money I suppose to use to pay my bills to buy materials. I hired coaches. So whatever I am getting today, it is not an overnight action. It’s a result of compound effort.
So when we’re talking about forex and success in foex, it’s the same thing. You know, what people, see, this is what people see right now. Okay This is what people see. People are just so much interested in success right now. This is when you make that $1,000 a week. Oh a day. Or this when you make that $6,000, this is when you make that $60,000 a month, this is a success that people are interested in.
Just like in your marriage, just like in life, just like in your career, people see when you get promoted, they see you when you get promotion, you are promoted. They see you when you buy that car. When you buy that your home. Especially couple who trusted God for the fruit of the womb, they see you when you finally have your baby, maybe your twins, but they don’t know how long you have cried and wept in your room.
Okay. Is this right here Okay. So it was you as a forex trader or forex trader wannabie you need to understand that these, below here, this is what is responsible for your success. Many people are overlooking. This many people are not even focusing on this, the risk in forex, we talk about risk. When you are putting, you are placing your trade don’t risk more than 2 to 3% of your account. I’ve been crying this, I’ve been yelling this but many people overlook this.
When they burn their account, they develop apathy and say ok, the strategy is not working, the system is not working. The coaches does not do what he suppose to do. But you avoid the risk, focus and talk about this. You got to be focused. Pick one currency pairs and you focus on that. You don’t trade currency today, trade the precious metals tomorrow.
Trade that stock next tomorrow, trade the indices, trade the options. Then you would not be focused. You know, life is all about focus. You pick one. And don’t at this as one of those side hustle. Pick your time that you want to trade. If you are still learning, then you need to be focus. If you are an engineer, you know how long it took you to become an engineer.
If you’re a medical doctor, you know how long it took to become a doctor. If you are a nurse, you know how long it took you to become one. Even if you are a school teacher. So how come you want to become a professional forex trader in one day, in one week? Okay So for example, I have six months coaching or mentoring program.
That doesn’t mean that you have to wait and have six months before you start trading but at the same time you need to understand that you need to put in time and effort into this. Then goals, I’ve talked about goals, how you set your goals. You set some goals based on your system and you are persistent in whatever you are doing. Forex trading you could be boring, it’s a repetition of the same thing over and over and over.
And this is one of the reasons why people lose money because they get tired of doing the same thing. If you are trading a strategy, it’s okay. Put your stop loss here, put your take profits here. Yet. All you’re doing is the same thing over and over once you master it, stick to it and and do what is needed, that is what will make you your million. But people get tired of it. They lack the persistence.
That is when they lose money. Failure, yes failure is part of life. Losing is part of life. You know, if you buy stocks, you will not see positive throughout. There will be some months that you know, is done. That will be some days that it will be down. There will be some weeks that it will be red.And the same thing in forex. You lose some trades then you move on. And remember, that’s why you put the first one in place.
The risk, you don’t have control over how much you are willing or you can make, and it’s something trade or you have a control over how much you are willing to the lose e in particular trade. Then, massive action. Massive action. This is also where people are lacking because the, you see people sign up for your coaching program. They even forget their password, that user name, they never logged him. There may be three months, six months after they signed up that you will see them sometimes asking for a refund or just coming back to say, okay
What is that Url for me to log in. So if you don’t take action. Their is no one, I’ve never seen someone that become a professional driver by just reading or watching video. They got to get into the car behind the wheel and drive the car. Nobody has ever perfect swimming by just reading the book out to swim. You got to get into the river, get into the pool and swim. The same thing in forex.
You want to trade, you have to take massive action. And that is one of they advantages of demo trading. You demo trade till you start making money in demo account. If you are not making money, if you are not profiting with your demo accounts, don’t plan to go live. Because if you go live, you are going to lose that money. I said this over and over, but people still ignore it. it is when they lose money, and they will now it’s okay. Yeah. This is the mistake I’ve made.
Then sacrifice; sacrifice, What is it that you want What is it that you want And what do you have to give up to get that Which you want Okay. you want to take forex full time. Then you got to sacrifice some things. The leisure of sleep, the pleasure of watching TV and so on and so forth. Even money.
You want to make some sacrifices. You have to sacrifice your time. Okay.
Then habits; how many times have you had that You are a product of your habits? What to do every day is what makes you. okay, so forex trading and success can actually be, you know, an addiction for you. You could be addicted to success based on what you do everyday. So that is habit. If you have habit of trying to be neglecting what you’re supposed to be doing, then you speak well. So I habit makes everything. You are a product of your habit.
And of course hardwork; hardwork could me that, you could focus on learning. You don’t approach everything you are doing with microwave mentality. Okay Not all the time. You just want freebies free, free, free, free. It must be free. Okay I laugh at people when they whine like that. You know, if I discovered that even most of the headaches I have are from the free subscribers, you know, the source subscribed freely.
They want to give them everything freely. And they are still the one that complain the most. Okay So you want to be successful in life. Then you got to focus. You’ve got all these stops us and Forex is an iceberg. This is what people see. This is what people see. You remember the movie titanic. This was what caused the accident.
Okay But there are a lot of things on that. There are a lot of things on that. I hope you have gotten something from today’s video and I hope you will start working on the root and not just the top alone. And I hope you will begin to focus on your risk, your focus, your goals, your persistence, your failure, your massive action, sacrifice, habit and hardwork, because these are all what makes you successful.