How can I make it in Forex Trading?

Posted on Posted in Beginners, Education, How to study

How can you make it in Forex Trading? Good question, but I want to start talking about doctors!
I remember that several months ago, Forbes published an article on how much top doctors make per year. On average they make $500K, with some of them going over $1M per year. It’s very appealing, isn’t it?
So, free your mind for a couple of minutes and pretend that you want to become a doctor, starting from NOW.

Probably what you are going to do is to write on quora “how can I make it in Medicine?”.
Why don’t you do it? Maybe it’s just because you don’t want to become a doctor, you want to follow other passions. But probably you don’t even try because you know that becoming a doctor it’s not easy and you need to go through a formation process that takes years.
Why do you write “how can I make it in Forex Trading” instead?
Because for the past 5–10 years, online advertisements have given people the idea that with Forex Trading you can become rich and successful in days, without having any particular skill and without going through a hard learning process that is necessary to “make it”.
So today I want to tell you a story of a person who inspired (and still inspires) me to be a top trader: Roger Federer.

Age 8: Federer started to have interest in sports, playing tennis and soccer.
Age 11: he started to be among the best junior tennis players in Switzerland.
Age 12: Federer decided to focus only on Tennis and quit other sports.
Age 14: he became the national junior champion in Switzerland.
Age 17: he turned pro, entering the top 100.

I’m not going any further than that, but I want you to think about it.
Roger Federer, probably the most talented tennis player in the world, took 9 years to become a pro.
Doctors take about the same amount of years only to start their career.
Why should Forex Trading career be different?
Also, do you think that Federer, during those 9 years, just sat and waited for a miracle to become a great tennis player? His hours of practice are probably countless.
In my opinion, the plan to become a successful trader is very easy, it is just hard to accept for the majority of people.
First you need to study the basics of the game. Then you need to practice and get used to it. After your first weeks of practice, you need to start learning something more advanced. At this point, you should have a good understanding of the game and you can start to develop your own style, your own strategy.
Is your strategy working? If so, stick to it; if not, try to improve it before changing completely your strategy.
After finding your way to be profitable, try to make your strategy better and better, never stop learning and never stop experimenting new strategies.
Once you are on this path, no one can stop you. You are on the way to become a top trader and you are pushing the accelerator pedal to the limit.

How long does it take?

Months in the best cases I have ever seen; years for normal people who have discipline and constancy. You will never make it if you don’t have discipline and constancy… no one can become successful doing something for a couple of days, then stopping for a week, then going back on it for other 2–3 days and continuing like that.
Be constant, improve your skills day by day, no matter how small are your improvements. One day you will see success without even noticing when this happened.

Good luck 😉

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