To become able to win with FX [Forex Demon]

Table of Contents

1. A Beginner's Sweet Misconception
2. Do you know the "10,000-hour rule"?
3. Beginners think they have no talent
4. What talent is needed for trading
5. Traders who continue to win

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※ This article is a re-edited version of an article from FX攻略.com, June 2014 issue

A Beginner's Sweet Misconception

Due to my job, I receive many questions by email from investors every day. For example, among them there are messages like the following, and I find it difficult to respond.

“I read Mr.FX Demon’s book and immediately tried scalping. I did it for several days, but for some reason I’m not winning at all. Do I lack the talent for scalping?”

Although I feel a sense of awkwardness about questions like this, in reality I reply softly like, “Continuing to win in the market is not easy. Please keep trying.”

If you think about it rationally, you would expect that after just a few days of starting scalping, you would fail to win, but for some reason many beginners seem to believe that you can easily win in FX. If FX were that easy, there would be no one losing in FX, and who would do any work at all, which is my honest feeling.

The sweet misconception that you should win right after starting FX confuses me, having endured the harsh world of markets. In fact, I have been forged by many disastrous failures, and I have learned. I take pride in the fact that the more tears of frustration I shed, the better I have become at FX. In this article, I want to speak honestly about how not easy it is to win continuously in FX.