The Concept of Forex trading for beginners

Forex has been a subject that has been widely misunderstood by the public for so long now. This is largely due to the high failure rates experienced by newbies in the market. Perhaps, you or someone you know has attempted trading the market and failed and failed again. possibly quitting after a number of attempts.

While this is mostly the case for many people, there are a few exceptions often referred to as the 1% of all forex traders who have eventually mastered the art of forex trading and have gone on to make a remarkable difference in their life, thanks to Forex. So what does this 1% percent know and do differently than the rest? I will let you in on a few insights, having failed at the market for quite a while before seeing the light!

You may have heard that trading is about 80% psychology and 20% skill. This is absolutely true because learn how to trade forex in itself is not difficult at all. It is perhaps one of the simplest skill sets you could possibly learn and that within a very short period of time. So, yes, Forex is simple. Simple but not easy.

The question now is, if forex is really that simple a skill set, how come more and more people continue to fail in the market. After failing over and over again, buying multiple courses, watching all manner of videos on youtube trying to get to the Holy grail method of making money from the forex market, I had an “aha” moment, and that is what I want to share with you today.

More than the skills needed to understand and trade the market, you need to understand that the psychology of trading is by far the most important concept you want to grasp and attain to become successful in the market.

Understanding the psychology of trading and even more importantly understanding the psychology of you would be your ultimate gateway to success as a trader. If you can master this concept which I actually call a skill too, you will begin to see and experience results that you would be mind blown.

In my next post, I will be exposing you to what I mean by psychology, the different psychological states, and how they play a bigger role in your success or failure as a trader. If you will learn and adapt, you will win Eventually.

If you find this post useful, let me know in the comments. Thank you for reading.

Talk Soon.

Okezi Eni