Wednesday, 20 June 2018

Do People Really Become Forex Millionaires?

I guess the dream of most traders is to become a millionaire trading forex. But is it really possible? Sure. Absolutely! It happens every single day. Although, if you want to have the percentages, I would for every new forex trader that became a millionaire today, you've got 10 other people who have crashed their accounts. So why is there such as big difference?

Well, to become successful in trading forex, you have to be able to think outside the box. That's a problem for most.

For example most traders love gimmicks. I do not mean this as a put down, but they do. They love things like forex robots. For those that do not know, forex robots are basically automated forex systems that trade without any human interaction. Most traders also love these indicators that tell them exactly when to buy and sell.

This is not what trading is supposed to be about.

In a nutshell, that's what separates the forex millionaires from the traders that crash their accounts. The traders who are crashing their account are looking for the shortcuts. They are looking for something or somebody else to tell them what the market is doing. The rich traders just simply know where the price is headed. It does not have anything to do with shortcuts. They just simply understand the markets.

The best way I can describe it is, traders can look at a simple price chart with no indicators, and it just makes sense to them. While the struggling merchants have completely flooded their charts with every toy at their disposal.

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