Time for a Breakthrough

Have you every wonder why do Forex traders fail? Even better have you ever wondered what holds must of us back from reaching our true potential as a Forex trader?

Want a hint?

Just look in the mirror!!

The key to success in trading the Forex market is to just plain get out of our own way!! Here are the common mistakes that leads most traders to failure or better yet, hold the true successful trader in all of us back from achieving our true potential. See if any of these areas you can improve upon.

Lack of Forex Education - training is the true key to success. That is why I have dedicated my website, FX Trade Central, this blog and my Lens to this enitre topic. The money spent on proper currency education will be recoup and paid back 1000X!! Click Here for a list of Forex training and education courses on FXTC or Click Here for Forex training opportunity Lens.

Emotions - great if you are watching the NBA Playoffs or World Cup, but it has no home in trading. Again, this is another topic I am passionate about and quite honestly one I struggle with each and every trading day.

Not sticking to a trading plan - or not having a plan at all!! This goes a long way in predetermining your trading decsions and help removing the emotions from your trades.

Expectations - Having realistic expectations at all times. My "Ah-Ha" moment was when I focused on the pips and let my trading plan worry about the lots. Compounding works!

Risk Management - I still hear from people time to time who continue to trade without a stop loss. One word ... STOP!! Just for the fact that you are risking your account on your ISP my account started growing when I managed my risk, took trades that fit my reward-risk profile, and used my stop-loss as a mechanism of last resort to exit a losing position and not a first option.

Bottom line, focus on these areas as much as the mechanics of the trade and you will get over the hump and start benefiting from the most powerful financial market in the world!!

Happy Trading!!