Forex Trading has become romanticised as this thing that will help people achieve financial freedom. Perhaps, someone saw unrealistic gains from demo pros who post unreal gains on Instagram or some form of social media and talk about how forex trading is the key to your financial freedom.
The common pitch: if you are among the best; you will naturally excel in forex trading. If not, you need to pay exorbitant fees to learn from Instagram gurus that aren’t knowledgeable. Whether journey you take (learn for free on the internet or paying a mentor; such as the capable team at CTI) there is still one thing that holds many people back: the inability to stick to a trading plan.
That’s the tough part of forex trading you never hear about.
It is not just unique forex trading, it is trading in general, whether you consider stock trading, commodity trading, futures, options—the common reason people don’t excel is they lack the discipline stick to their plan religiously. Especially when things get tough. 2020 is a great example; forex trading was not so comfortable with all the various nationwide lockdowns, elections, and fiscal policy drama.
Forex trading was singled out as it is especially tough; it is the crossroads where all the markets meet! But, there is already a piece on how the global markets are connected you absolutely should checkout.
Adam Leong is the exemplar of perseverance you should follow. Especially how to approach your trade plan. Having synchronised all the education and testing, he forged a strategy that worked for him. It took him 6 attempts at trading live funds before he succeeded.
As you can see from his interview below, he adopted a pragmatic approach and tailored his strategy to the market.
One thing to note: he stresses is patience. You would be forgiven for thinking “this is common sense”. But as we know, common sense is not so common as demonstrated by the scarcity of people who can proudly say they are consistently forex trading.
Why? The tough part of forex trading is sticking to trade plan. If you exercise your willpower and do it, it is well worth the effort as Adam’s interview will reveal.