10% Skill 90% Mindset

RahmanSL

Major
Messages
2,732
I do not think this ratio is reasonable if we give importance to skill just 10 percent then with a 90% mindset almost all traders should be successful because every trader comes to this market with the hope they want money not want loss.
Yes, you are more correct than most here.

Greed and impatience to make as much money as possible is the downfall of all those very dead Newbies & Wannabe Traders littering the forex highway.

Treat trading the forex (or stock/whatever) market as an investment with proper planning, management, and strategies. Approach it like you would like getting (and investing) in education, project, business, and any endeavors.

Unfortunately, vast majority of Newbies & Wannabe Traders are an impatient lot and come into the market to plonk all their money on either "black" or "red" with a prayer and a wish....and a lot of them just latch onto the worst possible brokers around with absolutely no idea about these scumbag brokers.

Like babies growing up, it's a learning process and most times we can only guide them but unable to prevent them from doing what they do in their learning process.
 

nahiyar

Private, 1st Class
Messages
849
That is very true. Some people think that the only way they can make it in forex is if they have the skills. It is however more than just having skills. Your mind needs to be able to handle forex trading because there are some aspects of people that cannot be learnt such as making appropriate decisions within a short time period.
What is mind set ? we can say it is your interest or talent towards any work. Skill will be yours when you are having using your mind and ability to know the forex or you improve it with your practice. There is not a short cut but you will learn forex in less time when you will pay attention and feel satisfied with this business.
 
Top