When you started out with trading or when you had the idea of trading, how did you picture it? Did you think that you would start out with an hour here and there, or did you listen to those stating that you can work a couple of hours a week and make it big? If you had any sort of thoughts sling those lines then you would be greatly mistaken. Much like anything in life, if you want to be good at something it is going to take a lot of work and a lot of dedication. If you do not put in the work, you will not get the rewards.
The way that the forex industry is going, things are getting easier and easier to get into and to gain access to various things that in the past would have been pretty hard to come by. In order to get into trading now, all you need is an internet connection and a bank account. You can simply go online, find the broker you want, sign up, deposit, and start trading.
Things being easy to access does not however make them any easier to do. In fact, the number of people who start trading is increasing, but so is the percentage of those traders that lose money or blow their accounts. This shows that while it is easy to get into trading, it is not easy to do it successfully.
From the outside, it is always quite difficult to judge exactly how you will be able to deal with certain situations or to cope with prolonged exposure to something that can potentially cause stress or loss. People from all walks of life and from all sorts of professions take up forex trading in the hope of being successful, coming from different backgrounds and having different base levels of discipline and dedication cannot really prepare anyone for how much dedication is actually required to be successful.
So despite the ease of access and the heaps of educational and learning material out there, it should be easy to get to grips, but sadly this is not the case, you will need to work hard and you will need to put in the work.
The majority of traders come away from trading as a loser, they have lost either all or at least some of their deposits. This does not necessarily make them a bad trader. In fact, everyone that has even traded, even the most successful ones, have had losses, lots of losses. Part of becoming a successful trader is being able to encourage and force yourself to continue to work once you have those losses. It is very easy to just give up and think that this is not for you, however having the discipline and dedication to stick with it, even though those losses is what will ultimately make you a successful trader.
If you take a professional sports player, it takes years of practice to be at a level where they can actually make money, it is exactly the same for someone wand trading. You will have plenty of losses at the start. In fact, it will probably take you a year to be a break-even trader, but if you keep pushing and learning, just like a professional sports player, you will improve and you will begin to win some of your matches, or in this case trades.
There needs to be an understanding when you first go into trading that there will be a lot of losses and it will be a very long process. If you expect to be profitable when you first start out then you will be disappointed and quit, however, if you come in knowing that it will be a hard journey, it will be far easier for you to push through these initial losses and to continue learning until you are profitable.
Trading is an endurance event, not a sprint, you need that mentality and you need to be able to stick with it, if you want quick results, you will need to look elsewhere, however, if you understand that trading will take years of practice before you are truly successful, then it could be a good path for you to go down.
