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2 viewsDecember 4, 2020ForexSubscribe0



Louise Long –


December 4, 2020


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Is there a secret to Forex trading secret?

fhm100 Asked the question December 4, 2020

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    fhm100107

    Posted December 4, 2020


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    Hi

    You guys want to know my secret formula to success?

    Get ready it will shock you………

    Most traders think Forex is about Trading, whilst they are partly right Forex it’s about a lot more than that.

    Let me try to explain it this way. Some restaurants have great food but don’t survive. They close down after a year or two. Now take your local fast food joint. The food may not be the best in fact it may be damn right poor quality, however they have been open for years and will continue to be.

    What is the difference in these restaurants, surely the restaurant with the high quality food should be guaranteed to succeed. Not so. You see it’s not just about the food.

    Its about the management of the business, cutting overheads, increasing profits, training staff to mention just a few aspects. The food is the last thing they think about. In fact it can even be poor quality, if the other aspects I mentioned are in order.

    Trading is no different, the actual trading strategy you use can be mediocre at best. Even losing six out of ten trades and still be profitable. You need to look at it as a business, which Is what it is.

    You see a business has an investor, and in Forex you have invested your money. A business has a manager and again in Forex you are the manager.

    A business has staff, in Forex your are the trader thereby the staff, a business has an accountant. again you do the accounting in Forex.

    I hope you get my drift. So there are so many hats you wear when you are a trader and more time needs to be spent carrying out your other roles.

    Your most important role is capital preservation, you need to think of this first before profit. Then you need to train your staff, that’s you. So get learning. Now you need to think about money management. That’s the account now working.

    Only after you have thought about the above can you then look for a trade, you see the market will do what it wants, only if you have structure in place will you survive, then after that you may even thrive.

    I can show you many simple trading strategies but without the rest in place you will not make any money. The actual process of trading is simple its the rest that makes traders lose.

    fhm100 Asked the question December 4, 2020

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