“Everyone can succeed in Forex and financial markets!”

“Everyone can succeed in Forex and financial markets!”

One of the appeals of many mentors, brokers, partners, prop firms, etc. is that “everyone can succeed” in the stock market, as long as they join our right path.

Dear traders and future traders, there is no greater nonsense than this. How would this sound to you: “Everyone can succeed as a surgeon or as a lawyer, just go to our school.”

Unfortunately, the reality is that most people simply do not have the right prerequisites for trading.

Typically, a new trading enthusiast is first interested in how much they can earn monthly if they invest 1,000 euros. And secondly, they are interested in how to deal with taxes and how to avoid them. This is an absolutely wrong question and the first assumption that trading will not be what will provide for them in the future, but it can remain a hobby for many years.

We more experienced traders already know that success in trading requires much more and usually much larger capital than a person initially thought. This is one of the main reasons why we started financing traders and offering our unique training programs.

Unfortunately, not everyone can succeed in financial markets, and this applies equally to cryptocurrency enthusiasts and any new enthusiasts of any new market that currently becomes a trendy trend.

It’s not enough to just work hard or to have the right path to succeed in the markets. Certain characteristics and traits are necessary, which not everyone has, or a cocktail mix of the right path, good luck, and hard work is required, which certainly no one likes to hear. Good luck is often a factor that affects different people.

However, we must recognize that good luck is not on our side and may not be. Therefore, we must have the right path, hard work, and certain personal qualities in order to succeed!

What qualities should someone who wants to pursue a career in trading have in the future? These are:

1. Goal-oriented mindset,
2. Perseverance,
3. Positive attitude towards risk,
4. Ability to listen to advice of more experienced traders,
5. Humility (can be learned),
6. Ability to endure tough times as well as good times neutrally (can be learned),
7. Entrepreneurial spirit,
8. Basic financial literacy (can be learned),
9. Basic technological knowledge (can be learned),
10. Good critical and logical thinking skills,
11. Ability to learn from their own and others’ mistakes,
12. Ability to get back up after hitting rock bottom.

Do you possess these qualities? We would be happy to welcome you to our training programs and subsequently to our prop firm as a trader.

These are the basic qualities necessary for successful trading. However, we have good news: it is not necessary to possess all of these qualities. Many of them can be learned over time, and some can even be skipped altogether. Although this will lengthen your journey to your goal. For example, if you have endless perseverance and the ability to get back up after hitting rock bottom, it may ultimately be enough!

What are the most common mistakes that unsuccessful traders make?

1. They focus too much on where the market is going, and if it goes somewhere other than expected, they look for reasons why. This should be the last thing they worry about.
2. They are impatient and want daily or monthly profits, forcing them to make unnecessary mistakes. The market simply does not provide opportunities every day, and it is very fluid these days.
3. They cannot tolerate losses, which everyone will go through. People try to find a system without losses, but they will not find one. Even if they trade three-way arbitrages, a loss may occur when the broker, prop firm, etc. does not pay. There will always be good and bad times, and the problem is always that in a bad period, even an experienced person will jump to something new, and they may fall back to the bottom again.
4. They have no system, and even if they do, they cannot stick to it. They don’t even have a Plan A, let alone Plan B and Plan C. The market almost always does something completely different from what people imagine.
5. They choose the most difficult trading methods, such as scalping. It is something that is very attractive and profitable for brokers, but on the other hand, it is very costly in terms of time and emotions, and therefore prone to a huge number of mistakes. Profitable trading cannot tolerate almost any mistakes.

One of the biggest advantages of today’s fast electronic trading is that traders can transfer most of their potential losses to someone else, such as our prop firm. This is one of the greatest real advantages that can be achieved in trading.