In our highly connected world today, trading the foreign
exchange (forex) market over the internet is one of the
coolest ways in the world that I know of to make a living.
Anybody who tells you that forex trading is a quick and
easy path to riches either A: is a total moron and is
trying to make a quick buck selling erroneous information,
or B: has a vested interest in seeing you fail as a trader.
However, anybody who tells you that it is impossible to
make alot of money through forex trading is also sorely
mistaken. Yes, it is possible to make a large, almost
obsenely large, amount of money through trading the forex
market using only a laptop, but it is not easy to get to a
point where you can consistently place profitable trades.
I could go on and on about how sucessful forex trading
takes time, education, emotional control, and experience,
but there is one single thing that I have found is much
more important than all of these things if you want to have
a successful forex career. And that one thing is...
.......... (Wait for it) ..........
Your MINDSET, and how you perceive trading the forex market.
This is the hardest part for most people to truly
understand and use with their own trading, but if you can
fully harness and implement the following information into
your forex trading, you will experience unprecedented
success and you will become one of those people who can
travel anywhere in the world and answer to nobody.
(Just as a sidenote, if you do get to this point, I
recommend checking out something called an 'economic
citizenship program,' where you can become a citizen of a
place like Panama by investing in certain organizations.
You can get a new passport so that you can go anywhere in
the world, anytime you want, and no longer answer to a
draconian government that seeks hegemonic control over its
citizens.)
The problem is... most people who have had difficulty with
their forex trading view the market and their trading
platform only as a way to make money, and they become
emotionally attached to the money in their trading account
and subsequently, each trade that they make with this money.
The key to success in online forex trading is to view your
trading platform as a GAME that you play, where the
objective is to collect or capture pips. The more pips you
gather, the better you are at this forex game.
Now this is easy to say, but it can be different when you
are really at your computer making those trades. The one
thing I must empahsize is that when you adopt this new
mentality and you view forex as only a 'pip collecting
game,' the biggest change that you make is that you are now
completely emotionally detached from your trading. For
this reason, you can view your winning or losing trades
from an objective, outside perspective, and it will be
easier for you to devise a winning strategy since you are
no longer blinded by emotion.
---Exercises For Developing The Proper Forex Mindset---
There are two things that I recommend doing if you want to
slowly change your perception to where forex trading is
nothing more than a game where you win by getting pips (and
few games in the world can be as profitable as this one).
First, I will introduce to you something that I call 'risk
capital.' In short, risk capital is money that you would
like to grow, but if you lost it then it would not have a
big impact on your financial situation. You want to make
sure that the only money that you ever put into a live
trading account is risk capital, which is just extra
disposable income that you do not need to pay the bills.
Second, you want to make extensive use of trading demo
accounts. If you already have a broker or a trading
platform that you prefer and are comfortable with, the best
thing to do is to open at least one demo account with this
same broker.
As you should see, trading your demo account will look and
feel EXACTLY the same way as your live account will. The
only difference it is not big deal if you lose money in
your demo account, since it isn't real. What you want to
do is get to the same point after trading your demo account
that you feel the same way about your live trading account,
where it is no big deal if you lose money.
Spend enough time trading your demo account on the same
platform that you trade your live account on, and your
subconscious mind and a part of your brain called the
visual cortex will begin to associate seeing this forex
trading platform with 'Oh, a demo account. No big deal, its
just fake money after all.'
This is where you want to get, and it will become nothing
more than a game for you. It just so happens, though, that
this game will fund your next month long trip to Monaco,
and will elevate you to the status of a High-Net Worth
Individual (net worth exceeding $30 million USD) and
beyond. I suppose it is ironic that the less you care
about how much money you are making, the more you are
actually positioned to make.
Godspeed.
----------------------------------------------------
My name is Marcus Masters, and I hope you can use this and
other information to make a ridiculous amount of money in
forex. Read more about successful forex trading at
http://www.Forex-Prosperity.com
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