Enclosed you will find a story about a group of traders who made millions of dollars after just two weeks trading and what is interesting about this story is how they achieved success. If you study it, you will see how you can win too – let’s take a look at this Forex education in more detail.
Legendary trader Richard Dennis set out to prove that anyone could win at Forex trading with the right education and he gathered a group of ordinary people together and taught them to trade in just 14 days; these were just regular people – a security guard, a lady auditor and a kid just out of high school, to name just three of them. After 14 days training however, they achieved spectacular success and made over $100 million in a 4 year period.
So how did they do it? Let’s find out
These traders were taught a simple method which was a long term trend following system which had strict money management parameters and was based on breakout methodology, so nothing complex; it was nice and simple and the speed with which the traders learned it proves this.
Of course 95% of traders lose and it’s important to state they don’t lose because they can’t learn to win, they simply get the wrong Forex education or more importantly, most traders can’t trade their system to its rules, as they lack the discipline to follow the system rules as there laid down; if you deviate from the system and don’t trade it with discipline you don’t have a system.
Discipline is harder to achieve but it can be done, you simply have to accept you will face losing periods and when they occur you MUST keep your losses small and most traders can’t do this. Instead, they run losses and hope they turn around, trade more frequently to get back money they have lost or they simply change systems.
Dennis knew this and instilled in his pupils, that while the system he was teaching them would lose far more trades than it won, it would make huge gains over time if they kept their losses small.
They did this and while many of them commented it was hard mentally to stay disciplined (and it is when the market makes you look a fool) they adhered to the system and were rewarded. Anyone can learn a simple system needed to win and if you acquire confidence in what your doing and follow your system with discipline, you can win.
Many traders think its the market that beats the trader but its really the trader who ends up beating himself. If you want to win at Forex trading you can and I hope this article, inspires you to get the right education and mindset and enjoy currency trading success.