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Tuesday, May 5, 2009

Pathway to sustainable forex success When I started trading the foreign exchange market, with my face red, my hands dirty and my bank account hemorrhaged, and my trading account blown to pieces I could never recount, the only word my mind could think of was forest.

Yes, forex can be a forest, yes, a thick dark forest. It is a real jungle out there, and most gullible and novice traders don't know this! The only plausible reason why 95% seemingly unfortunate traders lose their shirts in the long run is purely as a result of lack of proper education.

No successful businessman venture into a business without first studying the nature of business he wants to enter into. This is not very different with forex, where a trader needs to get himself properly trained and retrained. This is especially necessary to precondition the mind of trader to start thinking objectively like pros before venturing into these murky waters.

The simple reason why most traders fail and will continue to do so now and in the coming years is because, education the most important aspect of any legitimate profession is treated with kid gloves by wannabes forex traders. Know this and make no mistake about it, you ain't going nowhere with dozen black box forex software and indicators cluttering your screen. Education is not only for the new bloods, it is a necessity even for the seasoned and excelling traders. Education is a continuous process in every sphere of life. Get educated or get relegated.

The best investment you will ever make is the one you directly make on yourself. If you feel this ain't true, then welcome to the club, welcome to the jungle, and be ready to lose your shirt if you have not already done so. This tastes bitter, but that is the name the truth is called.

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