If you want to learn Forex and win, you have yourself a good education currency trading. In this article we will look at a group of people who have never been traded, learned to trade in two weeks and went on to make millions of dollars. Let's take a look at these retailers in more detail and see what we can learn from them and get on the path to trading success.
Richard Dennis wanted to prove anyone could learn to trade and earn the right to trade and he set up the experiment. He advertised for people who wanted to learn the trade and thousands responded that he takes the cross-section of people from all walks of life, and group contained - a security guard, an actor, a boy just out of high school, lady accountant and a professional card player. These people were then given two weeks training and after that Dennis gave them a live trading accounts.
These traders went on to make hundreds of millions of dollars, and the experiment has proved that educational ability, gender or age are not barriers to success, and even better trading can be learned quickly. So what can you learn from these retailers? Let's take a closer look.
- the group has shown that everyone could learn a trade and they were only taught simple strategies and every trader must learn the best forex trading strategies are simple, because my strategy is complex and will have many elements to break. Everyone has the ability to learn simple trading strategies that you can earn money and do not need a college education to do so.
- The strategy also focuses on long-term and the fact that most traders do not trade long term, they like the scalp and day trade, take low odds trades and lose. If you want to win, focus on long-term trends that make really big profits. If you do, you can spend less time on your trading and make more money.
- Perhaps the major lesson the new trader can learn from these retailers is a great money management. Money management and trading with discipline is the key to success and these traders actually lost more than 70% of its turnover and is still a huge gain, because they keep their losses small.
- Most traders think they can win most of the time and I believe funny messages forex robot vendors who tell them that they can enjoy a 95% success rate, of course, its not true, but that does not mean you can 't do large gains can only be small losses and small profits, and you'll do just fine.
above story was an inspiration for me, when I first started learning the trade and I hope it inspires you to join the exciting world of forex trading.
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