Posts Tagged ‘Profits’

Learn Forex – A Lesson From a Group of Super Traders You Need to Know to Make Big Profits

Wednesday, August 11th, 2010

If you want to learn Forex trading you can and you can make money but the fact is that 95% of all traders lose. Here we will look at a group of super traders and how they make millions after just a few weeks training. If you learn how they did it, you can get a headstart on the road to Forex trading success.

There are a huge group of traders, who think they can win by making no effort and following a cheap, junk bit of software. These packages offer financial freedom, for a hundred dollars or so and it’s obvious making money with no effort is not possible in Forex trading, because 95% of traders lose money!

On the other hand, there are a huge group of traders who think working hard and being complicated and clever is the way to success but it’s not. Forex trading is essentially simple, simple systems work best and this leads us on to the lesson of a group of super traders, who achieved success quickly and with a simple trading system.

Trading legend Richard Dennis, set out to prove anyone could learn to trade and make great Forex profits. He got a group of ordinary people, none with trading experience, who ranged from a security guard to kid just out of school and taught them to trade in just 2 weeks.

After their education he let them trade and the results they achieved were outstanding with over hundred million in profits made in just 4 years!

You may see Dennis taught them a secret or complex system but he didn’t, it was a simple long term trend following strategy based on breakouts, with some money management rules and was so simple anyone could learn it.

The real to the success of the traders, was the mindset he gave them. He taught them to take a large number of losses and keep them small and then to have the courage to run big profits when they came. The system lost far more trades than it made but won because losses were taken quickly and profits were ran for a long time.

Most of the traders said the system was easy to learn but the problem they had was staying disciplined in the face of losses. Sure they did this but its not easy for any trader and if you think it is – you probably haven’t traded!

Its hard but its based on confidence in what your doing and staying focused on the long term and ignoring short term losses. While any trader can get discipline, most let their egos get involved, deviate from their system and lose.

If you want to win you can and while you may not get as rich as the traders Dennis taught, just like anyone who picks up a set of golf clubs won’t play like Tiger Woods but if you learn Forex the right way, you can play the game of Forex and win.

In terms of Forex trading, no venture can offer you such high rewards for your effort as the group Dennis taught proved – just get a simple system and adopt a disciplined mindset and you are on the road to a great second income in around 30 minutes a day.

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