As a Forex trader, you have all important trading system and the more important money management system. There is one more system that you have to have in place to be truly successful, and that would be your belief system.
Trading Forex is one of those ventures that can bring you a better than average income. For some people it can be millions of dollars, for some even more. You are getting into Forex trading usually to be one of the successful traders and make millions, not to just get by. Granted there are several traders who only want to pay the bills, but most are looking to participate in the “big show”.
This is where most traders come into difficulties. Wanting something like a million dollar trading account and believing that you can build it are 2 different things. Chances are that you don’t know anyone that has a million dollar account, so this being the case, why would you be the exception? Why are you better than the traders around you?
You do hear of those million dollar traders, but its’ likely that you think they have an inside track or some kind of secret weapon that you don’t have.
It’s this kind of internal belief system that will cause you to fail as a trader. You want these things but you truly believe that it’s impossible for you. No matter how badly you want it, if you don’t honestly believe that it’s possible, it will never be possible. Too many traders have experienced getting close to what they consider a huge trading account only to find they start making stupid mistakes. They end up sabotaging themselves. You may have been there yourself.
You take a trader who is familiar with growing an account to a million bucks and start him out with a $1000 micro account. You will see that he will effortlessly be able to launch that 1k into 100k and then to over a million. For that trader, earning a million dollars is not only possible, it’s a no-brainer. He’s been there before so he has all the reason in the world to believe he can do it again. It’s only a matter of time. There will be no self sabotage, no limiting behaviors and no reason to doubt that it’s possible.
If your belief system is not in place, the other trading “systems” you have won’t count for much. Once you know that it is possible to be in the top 1%, you will see magic start to happen. All of a sudden things work and you no longer make the bad decisions you made before.
Believe and you WILL achieve!
Best regards
Russ
