It seems that most forex traders will tend plateau out. The reason why this happens because they continue to chase the indicators and expert advisors. You have to realize that there is no Holy Grail. We have all been scammed by the marketers with their get rich quick Forex trading. Every time that you see return on investment (ROI) calculated in day, week, or month, it is guaranteed to be a scam. ROI should only be calculated in a year and not any other smaller time denomination. The main reason is because the profit will fluctuate from month to month, and it is impossible to earn a consistent profit every month.
Warren Buffet, the second richest man in the world is only earning on average of 22% return per annum. It took him 40 years to become one of the world riches. It is about consistent returns every year. So far, I have not seen any forex traders being one of the world riches by obtaining monthly ROI. Wealth accumulation takes time and can’t be sped up without take excessive risks to the point of gambling. There has been too much hype and testosterone in the Forex market and this will continue as new traders are driven by greed.
In order to be successful in Forex trading, you will need to hire a one on one trading mentor. Think of yourself as an Olympic athlete in search of a coach. You have to remember that 95% of forex traders lose money and they all hang around in chat rooms and forums. Do you really want to learn from these people?
Most traders are caught up in finding trading systems without any regards to the psychology of trading. It is impossible to eliminate losses and mistakes in trading as it is part of the risk. Risk and reward go together and you forex coach will develop a proper trading plan to help you with your forex trading.
