Many people will attempt Forex trading with the hopes of having a successful and profitable journey. However, not everyone will end up becoming a trading sensation earning huge profits. Why is it that some traders manage to be consistently profitable and some traders are flat out broke and burnt out in a matter of months? Why do some traders take the challenges of Forex in stride and others feel the disappointment of every loss? There are no simple answers to these questions, but I can tell you a little of everything that will tie it all together.
First, let me start this article by saying “an inspirational quote a day can keep the negativity away!” Reading inspirational quotes can help anyone having a down day and if you try to make reading inspirational quotes a daily habit, it's far easier to keep a positive frame of mind when something in life happens. And knowing how life is, a trial of some sort is bound to happen, often. It might be a case of road rage, (I suffer from road rage myself and completely understand!) someone shorted you the wrong amount of change, it could be a loss of your job, social media rage, a loss in the market, etc. Everyday annoyances and trials have a lessened negative pull if you instead focus on the positive inspirational message. If you have been trading the currency market, then you know it can be very fruitful, although traders that have been trading professionally for years have days in the market of total losses. So, it's natural to wonder how they can continue to keep not only making money but keep their spirits up when they have these losing days. As a trader myself, I keep quotes pinned to the wall that I can see when I’m trading.
Trading Forex has attracted many people with the idea that trading is exciting and exhilarating in many ways. Trading has many opportunities of the market being fast paced and volatile, but it also has times where it's slow and feels almost like it's dragging on. It’s hard to keep your motivation and excitement up when your not making money at times, and it feels boring to be honest. In order to be successful as a trader, you need to stay engaged. I've put together some things you can try to keep your motivation levels up and your excitement as even paced as you can when it comes to Forex trading.
Having quotes from profitable, successful, and professional traders can be motivational when you’re feeling down on your luck. I like to read quotes when I’m feeling unsure or down on anything in life. So, I thought I would gather some of the best quotes I found to help give your confidence a little boost in the right direction!
It is an exciting feeling when you start trading. A lot of traders are filled with an internal desire to find some secret, big or small, that will give them the perfect edge in the markets, allowing them to fulfill their fiscal dreams. It is easy to get too focused on this quest of becoming the perfect trader; which is why caution is needed. The drive for perfection can create a disconnect between a trader and the markets, resulting in fear, frustration, and possibly even financial difficulties in their trading journey.
As many of our traders know, the key to successful Forex trading is being able to consistently bring home profits. Setting a goal and knowing what you are working towards is important to a trader. However, the way we set our trading goals will also affect us.
A question a trader might ask themselves frequently is, "How can I identify high probability trades?"
Eastern Europe and the old Soviet bloc during the early 90’s is a perfect example of what happens with extreme fluctuation in currency valuation.
Take a look at this equity curve from one of Apiary’s demo accounts:
It’s a sad fact that most people go about learning to trade with flawed, self-destructive expectations. If you don’t approach learning with the right expectations, then success will always remain beyond your reach – irrespective of your desire, how hard you work, or what other resources you bring to the table.
If you want to become a successful trader and realize the wealth and freedom you desire and deserve, then you are going to have to adjust your expectations! Trading is a profession – plain and simple – and just like any other profession the road to mastery is marked by incremental achievements based on realistic expectations.