Success: Do You Want it or Would You Like It?

We all know the stats:

Over 90% of retail traders lose money.

You don’t believe me? Just Google “percentage of retail traders who are successful”. You see articles like:

• Reasons Why Forex Traders Lose Money (96%)
• Only Six Percent Make The Cut As Professional Traders (94%)

The interesting I found is: despite what their end of month says, many don’t see themselves as unsuccessful. It’s only when reality can no longer be ignored that they face the losses and stop trading.

Before that fateful day, they take one of two steps:

1. Buy every system that promises none or few loses and mega million results without effort; or
2. Do it themselves.

Neither approach works – as the stats show.

If I were to tell you: you can become a surgeon with expending time, effort and money, few of you, if any, would believe me. Yet, when it comes to trading, it’s a different story.

The reality is you need to acquire a grounding in the basics, i.e. you need to acquire the knowledge needed for success. Then you need to turn that knowledge into a skill, i.e. you need to act on the knowledge.

The process takes time, effort and yes, money: money in the form of losses and education.

You want to succeed?

Take a look at your end-of-month statements. What are they telling you? If they’re saying whatever you are doing is not working, then do something different.