The Secret To Forex Trading Success

What is the secret formula for Forex trading success?

To be a successful Forex trader you need 3 things. You need knowledge, determination, and discipline.


Lets look at knowledge first, because this is the most important part of the formula for success.

Forex KnowledgeYou can have a tremendous amount of determination and discipline, but without knowledge you will not be successful.

Knowledge really is the foundation of every successful Forex traders trading plan.

Without market knowledge you are going to really struggle to make money from trading.

I am not saying its impossible, but its very difficult to make money consistently without it.

I love inventing quotations to help inspire and motivate people, and one of my favorite quotes is below.

Sow the seeds of knowledge, and watch them grow into success.

I cannot stress enough the importance of knowledge in your journey to becoming a successful Forex trader. Knowledge is everything in this business, and without a clear understanding of the market, and the forces that drive price, you will never achieve long term profitability in your trading.


This is probably the second most important thing you need after knowledge.


If you are not determined to succeed then you will fail. If you are looking for a get rich quick scheme that requires no work, then Forex is not for you. Forex trading is a tough job that has to be learned, and you have to be prepared to dig in, and make sacrifices to be successful.

Some of my students had been trading over 10 years before they came to me for training and mentoring. But they never gave up.

After losing money for all those years, they still wanted to be successful, and were determined to keep going. And if you are reading this and you have been trading a number of years without making money, and you still want to learn and be successful, then you have one of the qualities you need to make it happen. But without the most important part of the formula “knowledge”, it will never happen for you.


Discipline is derived from the word Disciple, and is defined as an activity, exercise, or a regimen that develops or improves a skill. When you employ discipline with market knowledge and determination, you have a very powerful combination.

Discipline in Forex-tradingIf you have been trading a while you will probably have tried many trading strategies. They look good on paper, but they never really make money in a live market.

Most traders put the failings of these strategies down to their own inability to stick to the rules of the strategy.

They make excuses and blame their own discipline for the strategy not working for them. When in fact the real reason the strategy is not working, is because its a weak strategy.

Its a fact that 95% of Forex traders lose money over the long term. So based on that statistic, and allowing for some traders not following the rules of their chosen strategy, we can assume that around 75% of Forex trading strategies will lose you money. So even if you have a rock solid discipline, and follow the rules of the strategy to the letter, you still have a 75% chance of losing your money, if you are trading with a strategy that has not been developed by someone with strong market knowledge.

So again we come back to the importance that market knowledge plays in the success of every Forex trader. I teach many successful strategies to my students, and they have all been developed with a sound understanding of the market. When you have market knowledge you can trade many strategies that will make money, and its a lot easier to be disciplined when you understand what you are doing, and you are trading with a sound strategy.


Having the determination to succeed and the discipline to follow rules will not make you successful without market knowledge. But market knowledge is a traders worst nightmare, and its the hardest hurdle to overcome on your journey to Forex trading success.

The greatest enemy of knowledge is not ignorance, its the illusion of knowledge.

What do i mean by this quote. Let me explain. How can you admit that you are wrong, if you don’t know you are wrong. If you believe something is correct why would you change it?

This is a problem faced by many traders. The market knowledge that they currently have is incorrect. They think 2 + 2 = 4 when in fact 2 + 2 = 5.

2-2-5-300x168Think about what i said earlier, 95% of Forex traders lose money. Why? Because they believe they know how to trade, when in fact they do not know how to trade, and this is the hardest thing for a trader to admit to, and to change.

I know how hard it is to change how you look at the market, because i have been there myself. When i first started out i thought i could read a Forex chart, but when i finally found out how to really read a chart, and to understand what it was telling me, i was completely blown away.

To change something that you believe to be correct, goes against everything you have ever been taught in life. 2 + 2 = 4 not 5. But look at it this way, if you are losing money, then what you are doing must be wrong. And its not your discipline or your determination, its your market knowledge that is wrong. And as we have established, that is the most important bit of the formula for Forex trading success.

As Einstein once said:

Insanity is doing the same thing over and over again and expecting different results.

So if you are prepared to accept that your market knowledge is wrong, and you want to change what you believe to be correct, please check out my Forex training course.

Your market knowledge has to be correct, if you want to be successful in the Forex business.

Thanks for visiting my site, and have a great day. 🙂

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