"When you're in love with a market, it shows...in
your trading account." - Old Trader
It’s no longer news that Forex
markets are full of opportunities. Sure, there are challenges, but once you
learn what it takes to overcome those challenges and become consistently
successful, then the opportunities in the markets would bring you rewards. Why
do some people feel reluctant to try Forex markets? It’s because they think
success in the markets isn’t easy.
Success in other fields is also
not an easy thing. More than 12 year ago, a young woman told me she wanted to
become an actress, plus the reasons why she wanted to become an actress.
Obviously, she was dreaming of becoming a celebrity, thinking of the glamor,
fame, benefits, and riches that are being enjoyed by successful actors and
actresses. I only advised her to weigh all the pros and cons of what she wanted
to do.
Within a short time she joined a
local theatre group and began practicing with them. Several days later, she
followed them to a film location. That was when she was exposed to the dark
sides of the local film industry: instant privation. This also included paling
into insignificance when compared to veteran actors/actress on the location.
She saw that her chances of becoming an instant celebrity were very slim. What
she dreamed of didn’t come as quickly as she’d previously imagined. She thought
she would join the industry and quickly become a star; but the reality was
different.
When I later saw her, I asked how
far with her experience with her new career. She told me the dismal things she
faced, including having to work hard without any financial compensation. She
swore never to go into the movie industry again and she stood by her promise.
Perhaps, she could eventually realize her dreams if she’d pressed on for as
long as it’d take her.
Can you see how this true story
relates to trading? Nothing good in life is easy to achieve. Sadly, there are
many people who’re interested in Forex, but because of one flimsy alibi or
another, they keep on postponing the experience that has the potential to bring
them financial reward.
Flimsy Alibis
Some have tried everything they
think they can do, without attaining any success. They may now threaten that if
the new course or strategy that they want to purchase doesn’t work, they’ll
never trade again. As Philip Yancey says, a truly paranoid person organizes his
or her life around a common perspective of fear. Anything that happens feed
that fear. The fact is that such people have really lost interest in the
markets. While it’s wise to learn from the past, we shouldn’t live in the past.
Some think that they’re currently
facing serious expenses and therefore they’ll have to wait till next year
before they can start learning/trading. The fact is that there’s no guarantee
that their expenses will be reduced next year.
Some say they want to learn
everything they need to know about trading, including taking any courses and
reading any books they can find. They think they can’t start until they’ve done
that. The fact is that they’re yet to learn anything or read any books. If
they’re yet to do it, would they be able to do it at all?
Some think they can learn trading
by trial and error. This is possible, but time-consuming and circuitous. They
may think they can become a market wizard at will. Then, what stops them from
becoming a market wizard?
You may think you can only trade
when you’re less busy. Do you work only when you’re less busy? Trading is a
serious business; it’s not for those who’re less busy.
You may think you can’t trade
because your family doesn’t support that. You may want to think of how to win
their support. Maybe if they know and appreciate the truth and realities of
trading, they may support you. The way we view our circumstances is more
important than the circumstances themselves.
If you say you don’t want to trade
now, but in future, you may have forgotten that ephemeral wishes don’t mean
anything. Anyone who doesn’t have the time for trading can’t trade. Anyone that
doesn’t have resources to trade can’t trade. We worry so much about protecting
ourselves that we fail simply to step up. These are facts.
Conclusion: What
you can do today, don’t postpone till tomorrow. The best time to do anything is
now. Make your decision and learn how to approach the markets as rationally as
possible.
There are numerous ways to make
money in the markets – just as there are numerous traders in the markets.
The quote below ends the article:
“We are all different and there are many ways to win in
the markets – the important thing is to develop your own best method.” – Charles E. Kirk
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