Forex trading continues to lure in thousands of people daily with the enticement of quick wealth. This allure is of course constructed and reaffirmed by marketing experts for brokerages, Forex courses, and trading systems. They seduce future Forex scam victims with the notion of “easily obtainable wealth” that anyone can have access to. But there is nothing easy about Forex and it isn't for everyone. However the reality is, people are more interested in the fantasy that Forex cons sell.
There does come a time, however, when the trader realizes that trading is in fact a very challenging and mentality engaging sport that can also wreak havoc on one's emotions. The trader is now privy to the fact that they cannot “easily” create riches. Yet, despite coming into this knowledge the trader does not let up on the fantasy of becoming a “success story.”
Part of this is due to marketing teams, forums, and even the trader themselves buying into the belief that if they could just find the Holy Grail, trading wouldn't be so difficult and all their dreams would come true. The trader then begins an almost obsessive hunt for that elusive Holy Grail. Marketing teams feed his fantasy by frequently suggesting that if he had the right system, technical indicator, took the right course, or read the right book, they would be able to become consistently profitable traders.
The trader continues to buy system after system, course after course, and spends countless hours in forums searching tirelessly for that magic bullet. What the trader refuses to come to terms with is this: it doesn't exist.
There is no Holy Grail.
Take all courses you want, fill your shelf with bestselling trading books, use every indicator and technique available to man, you still won't become a perfect trader.
However, if you abandon the hunt for the Holy Grail and focus on becoming a disciplined, highly skilled, knowledgeable trader with an edge you may be able to become a consistently profitable trader.
Traders on the other hand would rather exhaust themselves searching for something that doesn't exist because the alternative takes work--years of hard work. It takes the average trader ten years of commitment, discipline, and educating to become a “true trader.” That doesn't include the day-to-day emotional managing they have to do.
Novice traders who are seduced into Forex by the promise of wealth don't want to dedicate that much time and energy to their goal, so instead they look for this elusive intangible thing that is somehow going to turn them into perfect traders who never have to deal with loss.
Loss is a part of trading; all traders need to accept this fact.
Traders also need to understand that Forex is not a one stop shop for creating wealth. It's a journey and if you can't commit to it for the long haul, you will undoubtedly throw money away into faulty systems and courses that try to offer you a short cut.
To get down to it, the Holy Grail is you. You are the difference between making consistent profits and making avoidable mistakes. Your trading personality has a greater affect on your ability to minimize loss and create gains than any system out there. Because regardless of the system or course you buy, it's still you that has to make the trades. If you are looking for that special something that will turn you into a profitable trader, look in you.
The Holy Grail is a marketing trick used on traders who only want quick riches. But true traders know that the path to a positive Forex journey starts and ends with you.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer