Forex Myth: The More Complicated The Trading Strategy The More Profitable
August 20th, 2011
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Marcello Ducille, Senior Forex Trader & Educator: Our society has an addiction to using time references as a benchmark to measure the expertise of an individual or professional. However, time is not an accurate standard to measure a person’s proficiency in a specific topic.
This is why the abilities of many professionals, especially Forex pros, have been overrated simply on the basis that they have been practicing their specialty for a long period of time. The truth of the matter is that veteran traders are not necessarily the best traders at all; they can be buried under layers and layers of poorly developed habits and trading psychology. In fact, the more bad memories they have to draw upon, the more mistakes they may make based on the fear and greed drummed up from their past.
New traders can actually be incredibly successful with the right tools. Take, for example, Sally Snyder. Sally is excellent with numbers and has a mind for logic, but has less than 3 years under her belt in the Forex. She stumbled for just a brief period of time, but she realized quickly the importance of utilizing systems that were time-tested so that she did not have to be. This trader actually earned a scholarship for FxEdge VIP mentorship and hasn’t looked back since. By identifying excellent resources and systems in the Forex, Sally experienced the success of professional level trading without the years of blind trading and frustrations that plague the majority of Forex traders.
Obviously, the length of a Forex trader’s career is not indicative of his/her success. Successful trading will be determined by what resources and tested trading systems a trader employs and how diligently that trader executes their profitable trading strategies. The most successful Forex traders have discovered the power of harnessing what already works and making it their own.
Stand on the shoulders of greatness.
This is the manner in which all excellence is achieved; one cannot reinvent the wheel and develop the next best hybrid vehicle all in one lifetime – you must start on the shoulders of one who has already achieved greatness to move to the next level of success today.
Don’t forget to check out Sally’s LIVE account report from one week in April where she was so excited she just had to share her results. And… those results don’t even include Sally’s favorite trade, the Weekend Warrior; we’ll talk more about that later this week!