As previously discussed, that there’s a precipitious road to become a forex trader, only 5 % of all traders who succeed and make a consistant profit. So, is it impossible? With a hard effort, we will be able to do that. I suggest you to quickly join the PAMM system that will help you to significantly increase your capital. Before further discussion, it is better for us to see the level of forex traders. Are you close enough to the indicator of a succesful trader?
Traders will naturally go through their trading days without conscious. Those levels are almost always passed by all traders. Let us learn each level, one by one.
In this level, traders are new comers. They are in the level of consuming all kind of forex knowledge from books and literatures. Theoretically, they become experts and understand both fundamental and technical analysis in theoretical level. If they teach theoretically, they will greatly explain but practically have not been tested yet, or maybe have not done any trading at all.
In this level, traders already knew that in the forex world, they must practice in order to get profit.They start trying their trading in the demo account and even start making profit within that account. After that, they start doing their trading with a real trading account. But in reality, what has been done in the demo account is very different with what has to be done in real account. Sometimes, they find loss by loss,the market is beating them. The emotion comes from the loss they experienced, makes them trade in emotional ways which bring themselves into the biggest loss that take away all capital they have. They do not continue to the next level because of the difficulty they imagine and they think it is impossible for them to conquer the forex market. Here, there is only 10% left from all traders.
In this level, traders have started realizing their emotional mistakes, and learn all the perfect systems, make some tests to all indicators on their table. They try to join some trader’s forums and open discussions about various forex strategies. They are searching for a perfect system which could give them 100% profit. Now, it is only 7% traders left, and continue to the next level.
Traders finally realize there is no perfect system. No one could ever predict the direction of the market. Then, they start doing trading system which suits to their type. Victory is only a probability and arrangement of money management. There is 5% traders left and continue to the next level.
This is a maturity level where traders will only trade when there is a trading signal. They calmly move and handle profit the same way they cut their loss. It is because they realize their system will give them a bigger profit than their loss. A cut loss risk is a business risk like other business. They make system improvement, handle their emotion better and keep doing the existing money management. It will be only 3% traders left to cacth the next stage now.
This is the professional level where traders can dance with the market. They have a significant growing account that make them master of traders and the icon of all traders in the world. They have no financial problems anymore.
Please do some tests to your level and do not forget to join the PAMM trader since it will accelerate your way to gain a financial freedom.