While luck can play a role in making big wins, being a successful forex trader is not about hitting the jackpot or achieving overnight success.
How many times have you allowed yourself to get caught up in the jackpot mentality while trading?
New traders, or those who are in the middle of a losing streak, often allow themselves to believe that success in trading is about being able to catch those big trades.
Let me be honest with you and say that this is true no What is forex trading.
Jackpots are mainly for casinos, where you tend to take a big risk by putting a large portion of your money on a single bet in hopes of getting a bank.
If you win, you can walk away with money that can last a lifetime, but if you lose, you’ll have little left.
The truth is, trading is a marathon, not a sprint.
Being an elite trader does not depend on making huge and interesting jackpot deals. It is about consistently making small wins day in and day out.
Sometimes, you will get lucky and get a big winning deal, but that is only because you were able to seize the opportunity due to your daily activities and training.
As the great football star Lionel Messi said, “It took 17 years and 114 days to become an overnight success.”
Know that this is the key to trading. You have to grind it. Avoid the jackpot mentality. Not every winning trade will be a big hit, and there will be times when things get tough.
But as long as you are consistent, even small wins will lead to success and a consistently profitable trading account.