Secret to Success in Forex

What it takes to succeed in forex trading is the guts to keep
going and the smarts to have enough money to last that long.

Let me explain.

You see most traders blow out accounts (rather small ones)
rather quickly. Then they re-fund the account and start all
over. It's madness.

If you're account is too small, you are fighting an uphill
battle. No, it's worse. It's like trying to fight and scale a
cliff at the same time. It's not going to happen.

Drawdowns happen. You need to have enough money to make through.
You need to have the smarts to preserve your capital and not
chase bad trades during this time. How do you learn to do this?

It's one of those things that you learn by doing. You can't get
it from a book or course. So how do you not lose a fortune in
the process?

First, make sure that your account isn't too small. Anything in
the hundreds of dollars is too small (if you're base currency is
something other than US dollars, convert to get the numbers for
your currency).

Don't even think of trying to trade with less than $1000 USD.
And don't even think of trying to trade with money that you can
lose and then shrug your shoulders. I remember one business deal
I invested $17,000 into. I lost it all quickly (it was a bad
deal).

I didn't need that money. It wasn't a big deal to me. I shrugged
my shoulders and said, "oh, well." I also recovered the money
quickly from another deal. However, if it had been a problem to
lose that money, I doubtless would've lost more not made it
back.

It's funny that it works that way, but it does.

So, (and I know you've heard this before) only trade with money
you can lose. And only trade with an account that is a
sufficient size.

Make sure that your trades are as small in size as you can make
them (and still be following your system).

As long as your account is large enough, your trades are small
enough, and you have a system that works (see lesson one if you
don't), then you will make it as a trader if you stick with it.

You see, you're as bad as your going to get right now. You can
only get better, and you will, if you do things right.

So what does it take to succeed in forex trading? Perseverance
and intelligence. You can do this. You can do well at this. Stay
the course. The end is a pot of gold and it is really worth it.