Hello Everyone

I will like to reveal the three major stages most inexperienced Forex traders go through before becoming a successful trader. It pays off if you can go through this process without losing your shirt. The only way you can go through the stages explained below and avoid the pains most traders suffer is having a trading formula that suits your personality and have the self discipline to religiously follow it with money management.


Stage One

The Get Rich Quick Madness

We all want to make money an we are made to believe that Forex trading gives you free money with just a few clicks on the mouse button, so you want to click and get rich, consequently your first experience in Forex trading is a craze for riches.
I always wonder how much pressure is placed on new comers in Forex trading, just type into Google, “learn Forex Trading” and all you will see mostly are links to brokers who know very well how to appear on the first page of Google Search.

Brokers will not guide you to be successful in Forex Trading, they just lure you into trading and leave by the time you get confused, you keep loading in your hard earned money on the platform and they keep making money on your account collecting spreads.

Traders who are not privileged to know these secrets spend years of wasting money on trading scams and losing various accounts in chains before realizing the truth. What of Forex training? Oh very much available in millions all over the web, but what kind of training do you find out there, many just teach jargons and histories of Forex trading. Who cares about all these irrelevant Forex Trading Philosophies all you want to do is to make money, You may read a thousand pages about Forex trading and yet be unable to make any profits from the markets, lots of Forex tutors you see out there do not understand the reality of live trading, all they know is book work, that’s why I will recommend you first of all engage in a Professional Forex Training and Mentoring ,paper trading your strategy out before investing your hard earned money for sure profit returns on your account overtime.

Stage Two

Forex trading Reality Revealed



This is when traders wake up from their fantasy and come to the reality of
Forex trading, some traders spend so many years before reaching this level.
You can imagine how much money, time and self esteem would be lost all those years. The psychological trauma is better imagined than experienced.

Depending on the mind set of the trader, some conclude at this point that
Forex trading is an impossible business that does not do any good, so they give up trading and go for something else. I will say these are the complete losers in Forex Trading, after all the years of trading, they lose hope, such mind set is destructive and resource wasting.
However, there are some at the level of understanding the reality of Forex trading; they sit down, go back to the table and device their success plan. A smart move is going for the ideal training, discovering the secrets to success in trading by following the rules of Forex Trading using clear and simple guidelines.
At this stage traders understand the importance of using a trading system.
Traders who trade without a comprehensive trading system or formula always fail at the long run, now what exactly is a trading system?
A trading system is a set of rules and guidelines or formula that direct your trading
Decisions at every point in trading, it includes the following aspects.
1. Your trading Plan
2. Entry/Exit Rules
3. Currency Pairs the System Works With
4. Money Management

Most trading systems you would have heard of will focus mainly on entry conditions in trading whereas there are more to trading than just buying and selling. Just take an offline business of selling clothes, jewelleries or anything else for an example, many small businesses today have closed up due to improper or lack of money management, why do you think Forex trading is anything different.
When the internet became very popular in year 2000 many businesses thought that having a website is a magical wand to outstanding success in business… lo and behold! Lots of businesses went down the drain due to in appropriate management and planning. Forex trading is not a magical money spinner, and you need to understand the Simple Formulas of Forex before putting your hand in it.
Before soldiers go to war, before football players go for a match or students for an examination, there must be adequate preparation and training, before you trade you must practice.

Stage Three

Profits Galore



This is the stage of freedom, at this stage, the markets pay you back what it has taken from you during your seeding period, if you were favoured to find the right path at the beginning how great will your success be! It comes to a point in your trading when you will start feeling guilty because of the way the profits are coming in, a feeling that you’re cheating someone but No! You are not cheating anyone; you’re reaping your harvest of profits from the markets you have sown into.

How to know if Forex trading is for you

All the above being said, I will like to beam more light on the tools you need for starting Forex trading. The first and most important tool is yourself, it may sound confusing but you will understand what I mean as you read on, not everybody can trade Forex, so you need a bit of self assessment before making the decision, Forex trading entails discipline and emotional control, people who find it difficult or impossible to follow guidelines or rules cannot succeed in Forex trading, a great deal of self control is needed to make good decisions amongst the “noise” of the markets an all other turbulent events that occur in live trading.

This kind of self control is not something everybody have, If you are the fearful type or your health condition is fragile when it comes to taking risks, I will advise you to stay clear from Forex trading, be alive to spend the little you have.
If you would have to go for a loan or borrow money from a friend before you start your trading, Forex trading is not for you because you may not have that mental freedom to trade. I cannot imagine myself luring anybody into trading, I wont advise you to ruin your finance or yourself just because I want to sell to you my trading system, that is no longer business, that is sheer wickedness, I know there are lots of websites out there you can go to and they may surely tell you what you love to hear but I’ll be glad to always be remembered for the truth.


Happy trading and wishing everyone a Success trading

drpips1............... this is the best advice ever, but they also apply to options trading........................ i actually didn't go through these stages...........................

nice drpips.following you.would love to have a rendevous with you.

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Learn how to be like these successful Forex Traders, so you do not make mistakes they did but follow their success path.

Very true