Focus on the Process. Not on the Profits.
We’ve made the Beginner Talk as easy and fun as we could to help you learn and understand the basic tools and good practices used by forex traders all over the world, but remember that a tool and technique is only as good as its handler.
A painting does not become a beautiful masterpiece by the brush alone.
It’s the vision and skillful hand of a painter that creates a work of art.
A football doesn’t find its way to the end zone by itself.
It is the quarterback’s ability to read a defense, position his players accordingly, and send the football to the right spot at the right time.
It’s not the “ridiculously awesome” indicator, the Cowabunga system, or the “super duper” forex trading strategy that gets your account in the black at the end of the year.
It’s your ability to read the market, execute the correct strategy for that particular situation, and consistently apply proper risk management techniques that hopefully get you more profitable wins than losses in the long run.
Like in art, sports, or any performance endeavor, forex trading is a multi-faceted skill. The tools alone won’t make you successful.
A dedicated effort towards education and application of what you learn, as well as the constant review of your performance, is the only path to success.
In the beginning, that process of learning and deliberate practice should be your main focus, NOT the profits.
Continuing with the basketball analogy, if your goal was to reach the NBA, would you get to the level of performance you desire by playing games only?
Or would you develop faster by focusing on physical conditioning, developing different skills (a jump shot, dribbling, footwork, passing, etc.) in practice, as well as playing games?
Probably the latter right?
If you went straight to the NBA without any training, do you think you’ll score many points or win games?
Nope. We didn’t think so.
Learn the market. Learn forex trading techniques and high probability setups/systems.
Learn how to manage risk with proper position sizing and stop losses to limit risk and maximize reward.
Learn how to put it all together in DEMO.
Over time, this process will lead you to a forex trading method or system that works for YOU and that’s when your winning trades begin to outweigh your losing trades.
Reprinted from Babypips, the copyright all reserved by the original author.
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