The reality of FOREX trading is that only 10% succeed and 90% of Novice traders fail woefully!

Why do traders fail?

• They trade with the aim of getting lucky to make money.
• Their greed exceeds their need.
• They think trading is a game of chance and luck and do not get the proper education to succeed.
• They don't favor to invest enough time and amount for education and mentor-ship.
• They have Poor focus.
• They are more emotional than intellectual.
• After failing, they want to make up their loss; therefore they may further incur loss.

Evident facts of the market:

Knowledge gives the edge.
Knowledge = Income.
Lack of knowledge = Lack of Income.
90% of Novice Traders who fail to educate themselves end up paying the 10% who have put an effort into improving their education.

Beliefs and Thoughts of a trader while taking a loss:

‘ The market is rigged ’
‘ I cant get a decent fill ’
‘ My broker is out to get me ’
‘ This game is impossible to win ’
‘ If I take a loss then I am a loser ’
‘ I never can have a winning trade ’
‘ I don’t have a clear strategy ’
‘ I don’t know what I’m doing ’
‘ These markets are impossible ’
‘ I’m a loser ’
‘ I’m too small and weak to win ’
‘What will others think of me, I told them that my strategy will work? ’

Sensory imagery a trader fells when taking a loss:

- Body feels heavy
- Shoulders drop
- Torso is hutched
- Facial muscles slacken
- Breathing is short
- Eyes are cast down
- Trader feels slow, weak and out of energy