Who Wants to Become a Forex Millionaire?
I’m sure most people get into trading with a dream of becoming a forex millionaire, but how realistic is that dream? Well…… I’m not going to say it’s easy, but I’m also not going to tell you that’s impossible to achieve. In fact, it’s happening as you read this.
There is somebody in this world making their first million dollars right now. The only problem is that for every person reaching that goal, there are about 20 traders who are totally wiping out there accounts with bad trades. What’s the difference between these kinds of traders?
Well…..to begin with, most successful traders in the forex market, know how to think outside the box. That’s a big problem that most traders have.
Forex has unfortunately become more about what gimmicks can make you money. To give you an example, look at forex trading robots. If you don’t know what they are, they basically trade the market for you. Just reading that, should tell how much of a gimmick this is. Also, traders have become very indicator dependent.
It’s like traders want to be told when to buy or sell, instead of figuring it our for themselves.
The truth is most forex millionaires don’t really have a lot of gimmicks at their disposal, and the traders who are always losing are always looking for one gimmick after another. It really just comes down to seeing the market and having an understanding of what makes the market tick. It doesn’t have anything to do with indicators, robots, or other shortcuts.
It all starts and ends with price action. If you can look at a simple bar or candlestick chart, and you can interpret the energy of the market, then you know you are onto something.