If you’ve ever tried your hand at Forex, you know how incredibly frustrating it can be. You think you finally have gotten a handle on things, and then all of a sudden the market swings against you and you are wiped out. It’s no secret that over ninety percent of people that dabble in Forex are quickly wiped out.
Yet there are thousands of people, just like you, who have found the secret to making an incredible killing in the markets.Is it luck? Voodoo? Have their sold their soul to the Dark Lord? You’ll be surprised to find out that as in most other areas of skill, often times it’s not what they are doing that separates them from everybody else, it’s what they are not doing.
And once you can learn to shed these money-sapping habits, you can make consistent profits as well. The first is male ego. It’s a well known fact both most Forex traders are males. Males have the hunter instinct, and the Forex market is an ideal environment to seek out and destroy, at least metaphorically.
It’s also a well-known fact that men can have big egos, and these egos can be hard to shed. When you enter into a trade with the underlying goal of making a quick killing in order to impress your friends, you will almost certainly fail.
But swinging for the fence to earn bragging rights, you are short-circuiting your most powerful skills for making the most money you possibly can. When our ancestors went out for the hunt, they didn’t hunt in such a way so they could brag about how far they could chuck a spear, or how big an animal they brought down.
They got mad props from the caveman community by consistently bringing home big chunks of meat to feed their community. Those that brought home the meat on a regular basis were the true alpha males that were admired by males and females alike. And so it is with Forex. When you forget making monstrous short term gains, and focus on only consistently bringing in successful trade after successful trade, you can’t help but to increase your effectiveness.
When you focus on your long-term goals of making consistent money, then you’ve got the right mindset to make a long-term killing.
Short-term profit goals will get you killed, just like running after a giant woolly mammoth without proper strategy and support. By slowly making consistent kills, you will be the one that is admired and worshiped.