Success is something we all want to achieve. But not everyone who wants to succeed is actually successful. Why is there a difference between the aspirants and achievers of success? And what exactly is that differentiating factor?
To be able to answer this question you need to first observe both the successful and the unsuccessful people. One of the most glaring differences between both groups of people is that the unsuccessful ones are mostly ‘all words and no action’.
Successful people on the other hand are not only determined to achieve what they want but are also focused on their targets and are prepared to undergo the necessary procedures involved in doing so. In other words, they are ready to chart their journey towards their destination, no matter how many struggles they may have to face during this journey.
The same observation holds good for forex traders as well. While there are tons of traders who desperately want to succeed, just a handful achieve success. But the good news is that you could certainly jump from the group of unsuccessful traders to the successful trader’s group.
The Problem with Unsuccessful Traders
Unsuccessful traders are not always entirely unsuccessful. You usually observe that they may have actually made some money initially. But then circumstances change; they lose money and are unable to regain the old success again. This is when they started despairing and begin to blame it all on bad luck or turn of fortune. Ultimately they become frustrated and then label themselves as an unsuccessful forex trader or a trader who has poor luck with money.
You Need Not Remain Unsuccessful
Does this situation sound familiar to you? Have you ever felt exasperated or annoyed with your trading results? Have you ever thought that there could be a way to escape ever feeling this way as a consequence of your poor trade performance? Would you not love to put an end to the destructive emotions and feelings that often fog your mind as you trade?
Here’s the good news! You actually can reverse the situation and MAKE things go your way and enjoy success as a forex trader. You could in fact make Lady Luck smile on you.
The entire gist of the matter lies in re-considering your priorities and targets. As an unsuccessful trader you were obsessed only about raking in money and profits. That needs to change and if you can make that single change, then you are golden. You will not only achieve true success as a trader but money and profits will also come in.
Changing Your Mindset
As mentioned in the previous section, the entire gist of the matter lies in changing your mindset. But how will you do that? First of all, you have to understand that there is a hidden trap in trading. And this trap is nowhere else but inside your mind.
If you have come to trade just to make money then this trap gets activated and you end losing money rather than making any. So the first step in freeing yourself from this trap is to think differently and approach trading with the intention of becoming good at trading and thereby becoming successful too.
If you do not do this, then your trapped mind will tempt you to indulge in overtrading, over risking and engage in emotional trading, all of which are going to kill your chances of becoming a successful trader.
Your New Outlook Towards Trading
Now that you have changed your old mindset, you need to develop a fresh outlook on trading. This fresh outlook will be your stepping stone towards success and of course great monetary rewards in the future. So now instead of focusing on how much money you make, you must aim at becoming an expert trader.
Look at trading as a challenge or an encounter that you must win. Develop a genuine interest in learning the tricks of the game and use this new found interest to keep you going.
Trading is something that the vast majority of folks cannot do effectively and stick to on a consist basis. Unless you look at trading as a huge task to confront with profound rewards and unless this challenge does not motivate you, does not make you fascinated and obsessed about becoming a worthy trader, then I am afraid that trading success may elude you forever.
So make sure that you develop a passion for trading and see to it that this passion has enough fuel to fire you up, motivate and encourage you to keep going.
After all it is your self-motivation that will make you stick to the game until you have achieved what you truly desired. That is true success and only this kind of success will shower you with a true sense of achievement.