There is a term in forex trading, coined the holy grail system. If you haven’t heard of it before, you are lucky and steer clear from anyone who says they have the ‘holy grail system’. It’s what the majority of forex traders are looking for, the holy grail trading system, that produces no losses and only winners. A trading system with a 100% win rate (or close to that) with zero draw downs. The ultimate of the ultimate trading systems. In essence a license to print money at will. Wouldn’t that be the life? 😉
It’s a really big secret in forex (hush hush now) and no one wants to tell you what it is. Everyone is looking on the outside for the answer to their trading woes, and that’s where it’s all wrong. The answer lies within. I’ve seen traders take a perfectly profitable system and turn it in to a losing one. And on the flip side, I’ve seen traders take a profitable system and turn it into an even more profitable one. What’s the deal?
Let me tell you the real secret. You are the coveted holy grail of your trading. *ttaaddaahhh!*
Everyone views the market differently. My edge isn’t your edge. And vice versa – your edge isn’t my edge.
It is possible to make it in this game. (Can you live off forex trading? – a definite yes!)
So focus on yourself. Keep learning, pushing your knowledge. Keep questioning. Find people who have been there and done that, genuine mentors who can nudge you in the right direction. Be aware of your limitations and strengths. Be able to remove your ego and accept that your trading results are a direct results of your choices, no one else’s. You’ll know when you’re on to something good and when you’ve found the right trading system.
You’ll need the foundations to increase the chance of success, such as the; Goal(s) + Self Discipline + Feedback Loop.