The Three Keys Of Success

1055 Words5 Pages
The Three Keys to Success in Trading "If I could just pick the right market, I would be a better trader." "If I could just predict where the market is going, I would make money." "If I could just be disciplined enough,... " "If I... " You fill in the blank. In search of the holy grail, would-be speculators are constantly telling themselves little lies that they think will somehow soothe their egos and will potentially boost their bank accounts. There are two secrets to trading futures and forex. The first secret is that you will have losing trades. That 's it. No matter what you do, no matter how many books you read, no matter how many seminars you attend, you will have losing trades. If you spend $2,000, $10,000, or $50 on the next great book, the next automated trading system, the best piece of software that shows you red and green arrows, you will have losing trades. Accept that you will have losing trades, and your life begins to change from would-be speculator to a true speculator. The second part of the secret is that when you properly prepare for losses, the profits will take care of themselves. You will never need to force a trade. When the trade is properly set up, you can expect to enjoy the fruits of your labor, whether that 's reduced losses or increased profits. There is a bonus secret that we have talked about before, but we will reiterate it: Don 't leave anything to "chance." Chance is the realm of the gambler, the realm of the 80 percenters. They
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