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Why do so many Forex Traders fail even when they are using a proven and well-tested system? Here's my story which will reveal all. Back when I decided to start my forex trading career (quite a few years ago now) I honestly thought that I would be making big money very quickly indeed. After all, I was entering the monster online currency market where I could hardly fail to make good money. I had investigated the market thoroughly, and admittedly I knew that in excess of 90% of forex traders fail to make serious money, but I did not believe for a single moment that this might include me! My attitude was that if I took the trouble to study the best forex trading techniques and avoided the pitfalls, I'd soon be a top trader too! I put my money into the best forex training course I could track down, it was wholly dvd-based, and cost me $4500. There 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. That was very attractive - I could use tax free trading! I also got bonuses like permanent access to the writer's own web site where I could connect every afternoon and review his daily reports. I could study his trades and hear his explanations (and sometimes his excuses), and learn how many pips he had made that day. He usually made around 22 - 35 pips - most often trading the GBP/Dollar market. My reasoning was that anything he could do, I could do too! This was going to be very easy! My new forex trading course covered all aspects of trading, including preparing to trade, keeping accurate and useful records, testing systems by paper-trading, and also trader-psychology. I took my time in checking out the course over a couple of days, then I watched some of the dvd's again, mostly those covering actual forex trading and actual forex techniques. I decided I was ready to begin. So I logged into my spread-betting account and put in some funds (about $4,000). I didn't mind tying up that money for a few days - I was already dreaming of fast motors and fast boats That was several years ago. Do I now have the fast car or the boat? Actually - no! Have I made a pot of gold? Again not quite yet! In fact I've lost lots of money! 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. I just know it can be done, I've repeatedly seen it happen. So I decided it must be my system! 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. I also bought even more books. Forex trading books, forex training books, even books listing and reviewing forex systems. 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. Did I at last succeed? No! But at last I began to think about what my problem was and why I've failed so appallingly. I began to think that I might be the problem! It hurts a lot to say it, but I really think it could be me. I now felt that my own personal approach, my own style, my own methods, they were all letting me down. Even using a proven winning forex trading system, I would lose lots of money. And for a long (and costly) time, I didn't even realize it. It wasn't because I hadn't invested enough money either. So I did some more research. I have learned that it is possible to purchase a winning forex-trading system online for very little money, and that even a top training course can cost relatively little. There are a whole range of affordable forex resources and training out there online. It is easy to be ALMOST totally equipped to make serious money on the markets. What does that mean in this context? What was I missing? What's the difference between a winning and a losing forex trader? How else could I become the total trader? It didn't take very long to get that question worked out! Once I really took the blinkers off, I realized that it just had to be me, who else could I possibly blame? I had to accept that I am not remotely as clever as I once thought. I soon identified plenty of personal flaws that were holding me back. I had no resolution, I lost concentration, I lacked dedication, I was not honest with myself, and I needed more self-discipline. By chance I managed to lay my hands on a very useful booklet. It came as a free bonus when I purchased some trading software from my favorite forex web site. 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. What did I learn by reading this booklet? Well - I learned that the problem really was inside of my own thick head! Like many forex traders I am totally unable to stick to the systems I have learned, and which I know do work. That's why I continued to fail. Luckily my new bookl not only confirmed where my problems lay, it also showed me a variety of very easy (and obvious) ways to solve them. I'm starting to trade profitably now! I owed a favor to the site owners, so I've re-written their little booklet and expanded it. They're still giving it away freely to purchasers of anything on their site. It's now called The Missing Link, and it's still free and it's still worth every cent
Article Source: http://www.content.onlypunjab.com
Christopher Temple is a successful trader who writes often on Forex Currency Trading Systems in his search to help newbies Learning Forex Trading Online. Visit the links to learn about his book. This and other unique content Forex Trading System Reviews articles are available with free reprint rights.
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