The first fact to be aware of is an obvious one
Fact - Forex trading Success is not easy
Of course you wouldn't expect it to be with the rewards on offer and the facts state 95% of traders lose and that's a high percentage. If you think you are going to make money with no effort, then save your money and don't try trading Forex, as you will join the majority of losers.
The good news is if you make an effort, you can win as Forex trading is a specifically learned skill.
Fact - Forex Robots and Expert Advisors Don't Work
There are numerous robots sold and all claim better track records than the world's top fund managers but they don't work. If you seriously believe that you are going to make money by spending $100 or so you are going to end up losing all your money.
If you want to win, you need to learn skills so leave the forex robots to the lazy and naïve traders and get yourself a solid Forex education.
Fact - Forex Markets Don't move to Science
Many people think that Forex markets move to some higher force which can be predicted but if you predict, you are simply hoping or guessing and that will see you lose. If you want to win at Forex trading, you need to trade the reality of price change and trade the odds.
Fact - Money Management is the Key to Success
Most people think if they have a good method they will win but its not enough, you need strong money management. You are going to lose at times even the best traders do and that means you have to take and keep your losses small until you hit profits.
Money management is the key to success but most traders cant keep losses small which leads to the next and most important fact about Forex trading.
Fact - Discipline is the Key to Forex Trading Success
You are going to have to take and keep losses small and trade with discipline until you hit a home run and this is hard.
The reason its hard is your emotions will come into play, as no one likes losing money, looking like a fool and the market will do both to you. During losing periods you must execute your trading system with discipline and ride out losing periods until you hit a home run.
Fact - Forex Trading is Simple to Learn But
You need to be aware that forex trading is not just about having a good method, you need the discipline to apply it - if you can't execute a trading method with discipline, you don't have one!
Anyone can learn to trade Forex but getting the right mindset is the key to Forex trading success.
So if you want to learn Forex trading you can and you can put together a simple, robust method in a few weeks and then you need the ability to be disciplined and execute your system correctly. Sounds simple? It is but most traders cant do it, if you can, big profits await you.
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