As they say… the truth hurts.
Are you ready?
Truth #1 — You need money to make money
Forget about taking a $1000 account and turn it into millions. That is achieved through gambling, not trading.
Instead, you should look to make an average of 25% per year (this depends on your risk appetite and trading style).
On a $1000 account, you're looking at an average of $250 per year.
On a $1m account, you're looking at an average of $250k per year.
On a $10m account, you're looking at an average of $2.5m per year.
Get the picture?
This is extremely important, but most traders don’t get it.
Truth #2 — There are different ways to profit from the markets
Warren Buffet, considered the world's greatest investor, invest based on fundamental analysis only.
Ed Seykota, considered the world's best trader, trades based on technical analysis only.
Mark Minervini, a stock market wizard, trades based on fundamental and technical analysis.
So what's my point?
My point is...
There are different trading methods that work. You need to find something that suits your lifestyle, schedule, and personality.
Then... find a proven trader whose style suits you, and copy him.
There's no need to try and reinvent the wheel.
Truth #3 — Forex trading is hard work
Forget about trading by the beach while sipping a glass of pina colada.
These are marketing gimmicks used to lure you into the game.
Instead, this is what goes on behind the scenes of a professional trader…
A professional trader follows his trading plan. He knows how to enter, exit and manage his trades at all times.
A professional trader records every single trade he took.
A professional trader reviews his trades on a regular basis.
A professional trader never stops learning.
A professional trader is always finding ways to improve his trading performance.
A professional trader is there before the opening bell and stays after the closing.
So… leave all your dreams of making quick and easy money behind.