Millionaire Mindset

There is an old saying that I think is not too far off in Forex – “those who can, do; and those who can’t, teach.” I have learned that there are many wise “gurus” out there talking about Forex, but it hurts my heart to know that innocent people are following them and these “experts” don’t even have a live “funded” trading account.

Many people talk a good talk, but when the rubber meets the road and it is time to put your actions where your mouth is, that is when they completely back out. They are GREAT teachers, but when it comes to actual trading – they stink. Forex trading is easy to talk about, especially with its theorizers, yet 95% of all traders (beginners and veterans) lose money. The reason for this massive number, I believe, is that Forex trading is more about the correct mindset than method. I just wrote an article about the necessity of possessing the right mindset. You see, it’s the mindset of the millionaire traders that sets them apart from the great losing majority. First look at how to get the right mindset for currency trading success.

If there is one message that I preach more than others, it is “learn for yourself.” If you really think you can follow someone else’s system and be successful in your own trading, then you are sadly mistaken. Success, my friends, only comes from within and in order to become successful you need to accept responsibility for your own destiny. You’ve got to have two things; first, a desire to succeed and secondly, a willingness to work smart & hard to get the knowledge you need.

I know many people who ask me for some tips or Forex secrets. I wish it was that easy – I wish I had the ability to simply look up in the “Forex Dictionary” and find the secrets and apply them; however, there are no big secret to Forex trading. Disregard what those so-called “gurus” suggest, there is no such idea as the Holy Grail, which many people would have you to believe. There simply is no substitute; you need to gain Forex knowledge & wisdom. Forex knowledge is the right ideas, the right plans, and the right methods; Forex wisdom is the ability to properly apply it with confidence and discipline.

So remember, you don’t need some complex, thousand dollar system; you just need a simple Forex system combined with discipline and the real millionaire mindset to begin your journey as a successful trader. Bottom line: if you don’t have the confidence to apply your method with discipline, then you don’t have any chance at all of being successful.