If you really want to enjoy Forex trading success - you need to learn from the best traders and here we will do just that and look at a group of people who learned to trade in just two weeks and went on to earn millions in profit. Let's take a look at what we can learn from this group of super traders.
Richard Dennis was a millionaire trader and maintained that anyone could learn to trade if they had the right education so he ran an advert in the paper and asked for trainee traders.
He got a large response and picked a diverse group which included - a actor, a security guard, a kid just out of school, a female audit clerk and an accountant to name just a few and then he taught them to trade in 14 days. They were then given trading accounts and went on to make millions in profit and some became legends in their own right.
So how did they become so successful so quickly?
Sure they had a good tutor but the way the learned is a lesson for all traders and here are the key points you can learn in terms of your own education.
- The best Forex trading systems are simple and the system used by these traders was so simple and easy to learn the pupils mastered it in just 2 weeks
- The system did NOT predict price change, it waited for it to occur and then traded. Many traders make the mistake of thinking they can predict where prices may go but that's just guessing and hoping. This system traded long term trends via breakouts which is a timeless way to trade.
- The system lost more trades than it won but that is not important - the average profit against the average loss is the most important criteria in terms of making profits and the systems winners were huge in comparison to the losses. Many traders believe the rubbish, put around by Forex robot vendors who tell you, that you can trade with 90% accuracy - well you can't but that won't stop you making a lot of money.
In Forex trading, mindset is just as important as the system you use and all the above traders when interviewed, remarked that learning the system was simple but keeping their discipline and keeping their losses small was the hard part of trading for them and it is for most traders. In fact most traders simply can't trade with discipline, they let their losses get out of control and lose. If you want to win at currency trading discipline is essential!
As you can see from the above, currency trading can be learned by anyone and if you understand, that your mindset is just as important as your method, you will see how you learn to become a successful trader from home and make big Forex profits.