Trading the Forex markets is something that has to be learned and 95% of those who go through that learning process actually fail. But it’s not their intelligence that’s letting them down, it’s their emotions. Emotion is the fork in the road and choosing left or right will make or break your chances of becoming a profitable trader.

Pic: Alosh Bennett

This simple fact – that 95% of traders fail – has lasted well over the years, despite even more sophisticated tools emerging. There are countless Forex bots around that claim to win every time, numerous systems that guarantee profits. Yet still most traders take the wrong turn and lose it all.

To a certain extent Forex is simply logical. You can apply technical analysis approaches and come up with a straight forward, logical answer to the common question, “when should I buy or sell?” There are those that don’t use a logical approach to trading and lose but far more traders let their feelings influence their trades. It’s human nature.

All Forex traders will always face losses, whatever system, bot or ’secret’ they use. It’s easy to say you’re going to be disciplined about trades, too, but when it comes to crunch time there’s money on the line and no-one likes loosing money. You have to be strong mentally to succeed as a trader.

So how do you get to that point? How do you make yourself disciplined as a trader?

The answer is that you need to learn good risk management and you need to practice consistency. Don’t even think about trading with real money until you have spent a good two months using the same system consistently, without fail. It’s not so much that you need to test the system out, but that you need to prove to yourself that using the same system consistently will bring you the success you desire.

Of course I’m going to tell you that it’s this type of approach that is taught in LiveConnect, but that’s how Jarratt taught me and it worked! If you’re not convinced, check out the webinar this Saturday!