Why do some people hear 'FOREX' and they seem to be uninterested?
Why do people give up on FOREX because of the bad experiences of others?

The truth remains that the FOREX market is the largest Financial Market in the world and as it has made a lot of people SMILE TO THEIR BANKS so has it also made others CRY. When I started trading, I remember vividly my mentor warning me on what not to do, I listened and for real I felt I won't ever have to do that by the way but as time went by I became overconfident and felt I was 'capable'. Four months later I ran back to him for help; I was in trouble!

You see, the FOREX market is a place where you can make massive profits in a short-time, emphasis; short-time BUT you can also lose all the money you ever worked for and more in same short space of time. And apart from the knowledge of 'HOW TO TRADE', what differentiates the winners from the losers is DISCIPLINE! How disciplined is the trader? Is he willing to let go of a trading opportunity because he is 'not sure of it'? Or is he willing to 'take it all' even when he is not? This is what matters.

For those hearing about FOREX for the first time there always seems to be an excitement that comes with knowing the potential profits awaiting them when they venture into the business, but for those who have possibly heard about the bad side of our business and maybe even lost money in the business they would be very uninterested; it's so bad/maybe funny that some people even refer to FOREX as a scam! Am I denying the profit potentials? Or Am I denying the loss potentials? Oh no, don't get me wrong! You can and SHOULD make a lot of profits from the FOREX markets however it boils down to your discipline! How ready are you to wait for that opportunity to trade? Are you willing to go a day or two apart from weekends without trading? Are you willing to trade cautiously and not like a gambler? If you can do these you are on your way to success in FOREX trading.

The speculative nature of the market should actually let you take the business more seriously and not runaway from it. By the way, which business isn't speculative Selling cars? Selling foodstuff? Think about it! Business itself is speculative and that is why there has to be proper planning before the execution of any. Yes! Talking about proper planning, as a FOREX trader have you ever considered doing your chart analysis while the market is closed? Have you ever looked at where you would likely be getting into the market even though it's not moving already? If proper planning is a recipe for success in business, I believe you should inculcate some of that if you must succeed as a trader.

The Financial Markets would always be with us, but are you building the discipline to make massive profits out of it?
I have had my fair share of challenges in the FOREX market but I would be sincere with you that those challenges only started when I became overconfident and greedy, I've learnt my lessons and I'm doing amazingly well; just because I saw the problem and I ADDRESSED it! For some people their problem is not overconfidence but fear (fear of losing money or fear of missing out), for others it's the Strategy they use in trading that is not favourable in the long run and so on, but I am here to let you know that whatever the problem might be, you can overcome it!
Take FOREX as a SERIOUS BUSINESS because it is!
Don't take for granted the fact that you can trade at anytime (except on weekends) and on any internet enabled device and see it as an excuse to be IRRESPONSIBLE WITH YOUR BUSINESS! IT IS A SERIOUS BUSINESS!

WHATEVER THE PROBLEM IS, GET IT FIXED! BREAK THE FOREX JINX!

© KayodeJSK (Joshua Kayode)