The Truth Forex Mentors Won’t Tell You
Today I’m going to talk about the evolution of a forex trader, like the cycle of a forex trader before he evolves completely.
You know, just like the butterfly, it has this cycle that it must complete before it becomes an adult: the egg stage, then it becomes a caterpillar, then a pupa, before becoming an adult butterfly. It is the same with the forex trader.
Now the cycle of the forex trader is kind of like year 1, year 2, year 3, and year 4, so these stages, especially in year 1, I call the delusional stage because this is where the trader is very delusional because he has unrealistic expectations. This is the stage where the forex trader is excitedly telling his friends and family about trading; almost everybody must hear about his forex trade.
The forex trader is saying I will get rich with forex trading; if I can make $200 every single day, I will compound it until it gets to $10000; I’ll buy this car; I’ll do this; I’ll do that.
At the end of year 1, the trader realizes that that’s not possible after blowing several accounts. When it gets to year 2, year 2 is the stage where the forex trader is like, It’s my fault; I need to work harder. I don’t have the strategy and stats to look for strategy, techniques, and fundamentals.
In year 2, the trader will look for a strategy on YouTube, trying different things without even backtesting them, and then the forex trader gets to year 3, which I call the humbling phase. This is the stage where realistic expectations kick in.
The forex trader is now humble and more relaxed. All those old beliefs and expectations are gone; anytime you see somebody saying you can flip this account from $5,000 to $100,000, you can even slap the person. Lol
Forex trading is not gambling or a money-doubling scheme Continuous learning will not only help you negotiate the hurdles of forex trading, but it will also keep you one step ahead.
Let’s milk it.
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