Trade differently than others to make consistent profit

by Dwayne Buzzell Forex

When people in Forex are following the other people and losing money, why do you think that you will make money if you simply follow what the other traders are doing? We know that it is very easy to think in our mind that we will never follow what the other people are doing but that is exactly what we do. This is our subconscious mind that tricks us to think that these group of people are the better trader than us. It is often thought that when there is a group of people thinking about some idea, this idea cannot be wrong. There are many people and there must be some value in their judgments. The market of Forex does not work philosophically but logically. Here if you think you can follow the others and make your money, you are living in another world.

This article will tell you why you need to trade solo in Forex. You will have to overcome many difficulties and some of these will be hard for you when you are alone, but this is the only way you can prove to yourself and the market that you are a worthy trade. When the professional traders started trading, they did not get as many help as you are getting now. If they can be successful with little resources so can you.

Majority loses money

Before you start your trading career you need to understand the fact that majority of traders are losing money in this industry. If you do some extensive research then you will be surprised to see that only 5% of the traders are making a consistent profit. So it’s very evident that if you trade like the majority of traders then you are not going to make a profit in this industry. Trading CFDs is really very simple for those who know the nature of this market. Start learning from the very beginning and everything will be crystal clear to you. Never trade this market under extreme pressure since it is one of the easiest ways to lose money.

Making a profit on a regular basis is a very challenging task. The first thing always comes first. You need to find a reputed broker like Saxo so that you can get the best possible trading environment in this industry. The high-class broker will charge a little bit higher than the low-end broker but at the end of the day, the quality of the service you will get from will be extraordinary. Never think about a single trade setup rather look into the bigger picture for changing your life based on trading. Take calculative risk so that a few losing trades don't jeopardize your trading career.

Group traders in Forex lose

If you are convinced that you will trade with the group, you have to know group traders in Forex lost. They cannot make money and they trade the market with others strategy. They do not analyze the market and when they are trading, a group of people is also trading like them. These groups can never see success in their trading life. If you want to make money, start trading solo.

Common strategy does not work

If you think that trading in Forex is so easy and you can simply come out with the money from the market, you have to understand that common traders are not the profitable traders in Forex. When they are trading in Forex, they are using a common strategy and that strategy is being used by their all groups. They place the trade and hope they are going to win the money. The strategy does not work and also not their profit is made. If you want to win and make the change, you have to bring change in your strategy. Make your strategy unique from the common strategies.