By Admiral Markets

Dear Traders,

Never failing to win in the Forex market is difficult but achievable.

However, what might happen is that you keep losing your equity in a rapid way…

…which will make your head start spinning.

You might get sucked into a spiral of doom and lose your confidence.

Well, not everything is 100% bad.

After all, one of the ways to grow as an individual is to learn and learning can also come from failing.

Education and preparation are key to turning your losses into profit.

Intermarket correlation

How many times have you experienced the market reversing for no reason and you losing a trade because of it?

I always tell my students that the key to understanding the industry is to focus on both commodities and equities market instead of just one.

Every market is related and your performance will improve once you take that into account.

Gaining knowledge never hurts, especially if you’re a trader, investor or a businessman.

Sacrifice

Many people get into trading, finance and business expecting instant and effortless success.

But when you’ve got that mindset, losing a single trade might mean losing your confidence as well.

You shouldn’t quit something because it “doesn’t work” or that “it’s not for you”.

Think about it as a sacrifice of some sort.

You learn through your mistakes and you need to give something in order to learn from it.

You’re not alone in this – every trader comes across some losses in their career.

For example, take this video below where I tell about some of the hard moments in my life as a trader.

Stay away from negativity

Maybe the reason of your failure is negativity around you.

One solution is to not let so-called energy vampires get near you.

What are energy vampires?

Those are the people who make you feel guilty, unworthy or insecure.

In short, they suck the life out of you – and you should avoid them in your life.

There is another way, however.

You can use the negativity around you to further improve your results.

After all, even a negative person can inspire us to work harder.

Facts sometimes lie

There has been a common statistical claim that 95% of traders fail in trading Forex markets.

In what time frame?

Days, years, months?

The devil is in the detail.

Personally, I don’t think that 95% of traders are failures.

I think that this percentage is way too high and is clearly a misconception.

And whatever the official percentage of losing traders actually is, even these numbers can be misleading.

More importantly, you have to focus on your own trading rather than on someone else’s.

Everything will be good

Trading Forex successfully doesn’t always depend on you.

There have been many brokers in the past who scammed their traders.

As a result, those traders developed many bad feelings about the market itself.

But what they ultimately learned is that the emotional disturbance they felt was only a temporary thing.

They do not take their failures personally and treat them as short-term setbacks.

So you should stay optimistic about becoming a full-fledged trader, especially since you’re in our good company now.

See what others are saying
about our service.

But no matter what, don’t let the future success cloud your judgment.

However many times you succeed and win, stay as humble as possible and never get cocky.

And most importantly,
practice, practice, and practice.

Cheers and safe trading,

Nenad

Article by Admiral Markets

Source: How failure breeds success

Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.