The Biggest Obstacle is Yourself!

Had been away for vacation for more than a week, haven't been doing much homework yet.

Anyway, thanks Trading Buddy for sharing this nice piece of article. There are truth in every word of it!

"In this crazy business we call forex trading it may be difficult for some to imagine that anyone can remain profitable over the long haul. The markets themselves are often wildly unpredictable so much so that most people find it extremely difficult to be profitable on a single day let alone being able profit of the course of years. Nonetheless there a select few that are able to trade for a living.

These exceptional individuals are able to consistently make a living in a field in which that vast majority of people that try to do so fail miserably. So then what is it about those people that set them apart form the rest of the word? Is it that they are smarter than every one else, or because they have some secret inside information that the rest of the world isn’t privy to? The answer to both of those questions is no, because the real reason behind their success is that while everyone else it looking for the system that is going to solve all of their problems, these traders are working on the only thing that matters… themselves.

You see at the end of the day a system is only as good as the trader that’s implementing it. So if you have the best system in the world but your mindset is horrible then you have no chance at succeeding as a trader. You need to learn how to control your emotions such as greed and fear of taking a loss, as well as changing the way you think about trading. For example many new traders see trading as a quick route to riches instead of the business that it is. This disconnect between their idealization of trading and the harsh realities of this business is the reason why so many of them fail. The few that go on to be successful traders have eliminated or at the very least limited these negative thinking patterns and if you hope to join them one day then you are going to have to do the same. So from now on instead scouring the internet looking for new trading methods and techniques, take some time to figure out the thinking patterns and emotions that are harming your trading and get rid of them."

~~