The stories of successful Forex traders are out there if you look. One of the problems with finding out if the stories are true or not is that any good writer can make them up, sometimes without even having traded once in his life. So how do you find the true stories that not only inspire but also educate?
Forex trading is a skill that is learned over time. The systems are useful and can help teach you the ins and outs that would cost you a fortune to figure out yourself. However, no system can teach you exactly how you are going to respond to certain situations.
For example, if you’re using a system that gets you started with play money, you’re developing a much-needed skill. You are learning and finding out what works, what doesn’t, and whether or not you have interpreted the material correctly. What it doesn’t teach you is how you’ll react when you’re risking real money and things don’t go as planned.
Stories of successful Forex traders can be very beneficial in helping you learn the broader scope of trading. They come from a different place than where you are trading because they are dealing with their own hard earned money and that changes the whole game. You want to hear several stories that will tend to focus on this part of trading, not the part where you’re trading play money.
The more you start to understand the world of Forex trading, the easier it will be for you to find legitimate stories and gain real experiences from them. You’ll be able to spot the made-up stories that offer the same concept over and over again. That concept shapes up with success with play money, a stumble with real money, and then success again.
When you get involved in forex trading, you enter a new world of self-discovery and financial ups and downs. It’s not the same image you’ll see when reading promotional blogs. There are some very interesting wins and some very tough losses that can happen. Wins can really teach you as much as losses. Your goal here is to comprehend a new realm. This does not happen with a single loss.
It is not easy to go from one career to another. What makes the transition to forex trading so difficult is that it is usually so far removed from the career you are transitioning from. So it’s a lot like going back to the beginning and starting over and learning a whole new career. Think about how long it takes for doctors, lawyers, and auto mechanics to become truly competent at their jobs. Now you will understand what you are looking for when you read stories of successful Forex traders online.