September 12, 2013 in forex. forex tips Comments Off

By Thad B

When you are just getting started in Forex, you know deep down inside you that its a good way of making some passive income and even achieving the financial freedom you desire. Even though it all looks very easy at the start, once you make your first deposit and start doing battle in the Forex markets you realize that its not very easy at all! You realize that you dont have a clue at all of how to actually make money trading Forex, and suddenly your dreams of Forex trading for a living seem very far away indeed.

What Every Beginner Forex Trader Goes Through

At this point, you can either accept that you need to seriously starting learning to trade Forex, or you start trading emotionally and rashly to try to regain your losses. Theres really no shame in admitting that you got angry and started doubling up your trades to get back your losses, most of us have been there and done that at least once in our early Forex trading careers. The key thing is that we realized that we arent there yet, that theres something missing that we need to learn before we can trade Forex successfully.

If you get to this point, then youve turned a significant corner in your pursuit of Forex trading for a living. This is when you realize that theres actually a lot more work involved in trading Forex than you thought when you were just getting started in Forex. You begin to recognize that you dont have the skills or knowledge right now to create a regular Forex trading income for yourself, and that with the demands of your full time job you hardly have time to learn. Dont go out there and buy every book and system from the far corners of the earth trying to find the holy grail system though. Theres a far better way to achieve your Forex trading goals.

Getting To The Light At The End Of The Tunnel

Most Forex trading experts would leave you to stumble your way through the dark tunnel of self-discovery and enlightenment at this point, but to me thats pointless. If you consider the statistics, only 5% of traders getting started in Forex actually make it and pursue Forex trading for a living. Thats because they get caught up in wanting to learn the skill of trading Forex themselves. In this modern day, we dont have to get a medical degree to treat our own cold, so why do we learn how to trade Forex on our own if we want to make a Forex trading income?

The answer that no one is talking about is to apply all the best practice of Forex trading that only you can do: have enough capital to start with, apply sound money management principles and to manage your own expectations when it comes to winners and losers. Everything else can be outsourced to professional trading software programs developed by veteran Forex traders. This does take work as well, after all, youre not going to strike gold with the first system that you buy. Be smart, do your research and due diligence, and only buy a system that offers you a lengthy guarantee.

Forex trading for a living is possible, and it doesnt have to be a 3-5 year long journey through the school of hard knocks if you dont want it to be. If your goal is to make a Forex passive income, and have time to enjoy your life instead of making Forex trading a full time endeavor, then the best thing you can do is to stop doing all the trading on your own, and outsource the hard work to a professionally designed trading system instead.