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Forex Trading Training - What Every Newbie Should Know
Blog Information
- Posted By : Leslie Badena
- Posted On : Dec 12, 2020
- Views : 208
- Category : General
- Description : Forex trading success, is based upon having confidence in what your doing and keeping your emotions out of trading. learning a method is easy, getting the right mindset is harder but you can achieve it - anyone can.
Overview
- Dennis set up a test, he took a group of people who Exynox Scalper Review ranged from a security guard to a lady auditor who had never traded before and taught them to trade in 14 days. He then gave them money and watched them trade; they made over a hundred million dollars and went down in history as trading legends - the point had been proved.Trading is a learned skill but this doesn't change the fact, that well over 90% of all traders lose money. So why don't they win when everything about trading can be learned.
Some explanation will make this clearer.Trading is simple and those who think a complicated method works better are wrong; a simple system will work well because its stronger, with fewer elements to break and Dennis used a very simple method.He knew learning the method would present no problems to his group. What would present them with problems, was getting the right mindset to apply it because if you can't apply a method correctly, you don't have one.
Most traders simply cannot apply a system with discipline and as soon as they start to lose, they let their losses get out of control and when trading on leverage this leads to disaster.Dennis therefore taught his pupils strict money management rules and the mindset to take losses and stay on course until they hit profits again. In fact, they lost far more trades than they won - but they still made huge gains.