A Forex failure might be the biggest reward on your way for achieving success. Many might say that a smooth way to the top of success is great. However, those who has experienced the real value of loosing will probably find such a path too short. On the other hand; is a smooth way to success really success at all? Is it success that will last? The truth is, you will never find an easy way to succeed in Forex trading. You are more than likely to meet several layers of testing and failing when building your Forex trading strategy.
“If you don’t fail, you are not even trying”. Those are the words of Denzel Washington in his famous motivational speach. Therefore, you might find out that failing in Forex trading makes you realize what will work out perfectly for you. You might find out the hard way what the best sides of your strategy is. And, if you do, do not forget to consider yourself lucky. Because, once you make a mistake, you should realize how you can improve and make it better the next time. Therefore, it is not about the mistake itself, it is about your attitude. It is about your mentality and discipline. In the end it is what you do to recover that defines you. Not only as a Forex trader, but also in many life-situations.
We like to think that it is what you do from your failures that defines you. Therefore, you should not focus on making mistakes. Why? Because you will fail at some point anyway. In fact, the sooner you accept this fact the better. Then you will be able to learn from it and pick yourself up. You will be able to find a better path ahead. A path that is better than before.
It is certianly hard to loose in trading. Some might perform a loss when creating the strategy while others do it when testing it. The world has seen many examples of traders who wipe themself out completely, and for no good reasons. Others again might break down for minor losses. 90% of the cases is based on the lack of a developed Forex trading strategy. The best advise is therefore; use your time to define every single event that might happen. Define how you will handle it. Not to enter the market is likewise important than any good entry points.
Make any Forex failure inspire you to strengthen your trading strategy. And, perhaps even more important. Picking yourself up from any mistake in trading is just one more step on your way to success.
Tore Herbert Hoff has carved his own way to become a professional Forex trader. The key for his success is to learn by mistake. Time to learn the nature of the currency market is one thing. Likewise important is how you define yourself based on your natural surroundings. Believing in yourself is the number one key element.
One example of the opposite is his earlier Swiss venture, Scandinavian Invest AG. We like to think of it as a hard way of learning. “I would never be where I am today without this experience”, says Tore. For those who think that such a periode is life-time breaking, the energy works different. “I thank the persons who showed me the correct path ahead”.