Have you ever wondered why rich forex traders get even richer? It is definitely not because they are lucky. It is also not necessary the money they have inherited from a very rich uncle. It is very unlikely that they won a lottery. So what is it that separates the simple trader from a wealthy one? Is there a pattern to follow?
Here is the truth, the gap between ridiculously rich and average fellas is increasing and is not going to stop any time soon. So the next question you want to ask yourself is why is the gap growing and what do these wealthy forex traders do differently from the rest of us?
Here are a couple of things to think about:
Apparently you will never be rich if you do not take risks. Ridiculous as it seem at first, taking risks is the park of the process of finding out what works and what doesn’t. Making mistakes in trading will only make you stronger and more experienced. Mistakes are not a failure but rather a great lesson!
Investing in yourself
Self-improvement is a necessary step into self-growth. The money you spend on a new trading book, forex seminars, strategy mastermind group and other resources, enrich you and therefore increase chances of you becoming a super trader.
If you want to be rich, make sure to hang around rich people. We all learn from experience whether our own or heard from others. You can pick up trading habits and forex strategies from those who made things work.
Stick to the routine
Even though you work from home, you better have a daily schedule written down. Waking up late and walking in a coffee-stained pajamas all day long will not turn you into multi-millionaire. If you want your forex trading organized, you have to first start with your own self.
Morning routine can include exercise, walking the dog, jog in the park, goal reviews, breakfast or whatever else helps you begin your day with a powerful “boom!”. You will be surprised how a powerful morning routine will make you come closer to your dream life.
Review your agendas
Rich traders have a very defined goals and they always review the progress, make necessary adjustments and develop newer strategies to get those agendas done. Keeping track of your profit and losses allow you to make quick and necessary changes to your strategies and trading routine.
While most traders go with the flow when it comes to their future, top traders remind themselves daily where they want to get in a year.
Of course the above mentioned gap between the wealthy traders and the beginners cannot by simply summarized into 5 simple points, however these 5 trends might just be the right push in the right direction.
Most importantly, there is no harm in putting these five actions into practice today. The question is, are you still in your pajamas or you are ready to make some money!?