My path as a forex trader has been…interesting. Like many others, I was lured in by the prospects of easy money. The way I figured it, next to winning the lottery, Forex trading was the fastest and easiest way to make a mint. All I had to do was program my own system, which was going to be a cinch, because I had the inside track. Hurrah for me! Of course it didn’t work that way.
Many forex traders come in with such unreasonable expectations. There’s nothing really wrong with that. We’re human beings. We live to learn. Us Forex Traders…those of us who have been here a while…we have all learnt painful lessons. It’s like growing up. You put your hands in fire and get burnt. The next time you are more careful. Simple.
The difference here is that anyone – well, almost anyone – that can open a forex account and start trading should be smarter than the average child. So, how come they all still make the same mistakes as the others that have come before? Well, with children, the adults often discourage dangerous behavior. It’s curiousity that gets them into trouble. So, in the cases where they are out there without supervision, they might have to get hurt and learn the hard way.
Well, in the world of Investments and Trading, including Forex, too many of the “adults” don’t discourage harmful behavior. Infact, they actively encourage it. They help to perpertuate the myth that one can take short cuts and get rich. I am sure a few people will get lucky and hit the jackpot with little or no work, but it’s no strategy to base your trading career one. “On-the-job” training is a requirement in Trading, but some pre-education is needed as well.
I suppose we traders have to take some responsibility. If we weren’t all looking for quick money, we wouldn’t fall so easily for the seductive information that is out there. We wouldn’t buy every system that comes out promising riches without any work. We would take more time to learn and grow. We would see the false prophets for what they are. It’s just that things aren’t black and white in real life. Fire burns, so you don’t touch it. But Forex Trading can make you rich. Systems can make you rich. You can’t really tell people not to trade because it’s dangerous. So, the people with the authority…they aren’t really lying when they tell you some of the wonderful things. They underplay the negatives and exaggerate the positives. It’s irresponsible of them, but there you have it.
So, back to the responsbility thingy. Ultimately, your financial destiny is in your hands. You need to test everything that is out there before you trust it. Get some training! If you won’t buy a book, check out Babypips.com. They are great for online information and training.