1 – All you need for successful Forex trading is a laptop, internet, 500 euros, and an unending desire to make compromises that you didn’t originally plan for.
2 – 95% of people on forums, groups, etc. are just as ignorant as you are. Free advice on forums and social networks is often the most expensive thing you’ll buy in your trading career. If you don’t see that yet, you still have a long way to go.
3 – 80% of trading books won’t help you in any way. The other 20% will only help you when you’re already profitable, and you’ll wonder why you didn’t see it earlier.
4 – Out of 100 successful traders, not even two will trade in exactly the same way. If someone is selling you a specific strategy, stay away! It won’t work for you 99% of the time, even if it’s still functional.
5 – 99% of mechanical systems will eventually break down, and if you think you’re in that 1%, you’re already hanging over the abyss and need to think again.
6 – There are always two trends in Forex, and determining which one is the right one can seem as difficult as predicting next Sunday’s weather.
7 – The market is always a perfectly balanced scale (50/50), but they sell it to us as 49/49-30/30. If you don’t understand this, you’re still far from profitable trading.
8 – Any successful mechanical system you come up with can only be truly successful and sustainable if it works in a randomly generated graph.
9 – The amount of time you spend actively trading in the market is indirectly proportional to your profitability, as is the amount of time you spend studying trading if you use the wrong sources.
10 – If you think you have a sure thing that will definitely work, you’re very likely still at the point where you’ll experience at least one major fall to the bottom. And if that sure thing is from a broker, you’re only at the very beginning of your journey!
Today, people have the opportunity to save themselves a long, arduous journey full of obstacles and falls to the bottom in a very simple way – trading for prop trading firms. Yes, it will never be easy and it won’t happen on its own, but the opportunities that open up to you with our training programs and funded RCF accounts are much greater than when a person walks alone.