Forex Trading: Is The Holy Grail Syndrome Real?

What is the Holy Grail Syndrome when applied to Forex Trading?  Traders lose a lot of money chasing around, looking for the next best system, trying to find this magical holy grail. They try this forex trading system or that forex strategy for a week and then they read another ebook and change systems again. Traders look for holy grails. I call this the “Holy Grail Syndrome.” They don’t understand how counter-productive this is. They believe there is a secret that, once discovered, will provide a simple, fail-safe answer to all their trading questions. That, of course, is nonsense. This kind of thinking will just hold you back. Success takes hard work, as in any useful endeavour.

Once you find a forex trading strategy that makes sense and works for other people give it a proper chance to work for you.  Forward test it on demo and follow ALL the rules exactly as taught.  You must do this to begin with before you stamp your own personality on it. Click here to download the forex trading Demo platform Metatrader 4.

Holy Grail Syndrome sufferers look for something that will give them a signal to trade rather than learning how to trade. They look for magic systems (advertised everywhere) that will make money for them every day. They look for automated trading robots to make money for them “while they sleep” and other such nonsense.
They have unrealistic expectations and want to make millions with a starting capital of just 1,000 Euros. They are fodder for the professional traders who will just take their money. Please don’t be one of these Holy Grail seekers; learn how to trade.

In The Book on Forex Trading I give you a couple of real methodologies to follow that make consistent profits regardless of market conditions. I teach you these as an art form, not as a mechanical system. You will eventually tailor this methodology to your own personality when you have more experience. There has to be some discretion. Give a man a fish and he will eat for a day, but give him a rod and teach him to fish and he will eat for life. If you want to learn to fish, then I am your man, but if you want quick easy fish then forget it and stop reading now!

We won’t follow a mechanical system because although it may work occasionally it won’t work in the long run. Similarly accepting trading “signals” and tips from someone else won’t work either because we won’t know the thought process of the sender at the time the signal was sent. The Forex market can change quickly so what was correct at the time might not be right five minutes or an hour later. Mechanical systems are a lazy person’s way of trading. They are seductive and cleverly marketed (by non-traders). They attract the get rich brigade and it usually ends in tears and a loss of all account equity.

Forex trading is a profession and like any profession it can be learned with hard work, time and dedication. This business could change your life if you take it seriously and be professional. Amateur traders turn into professional traders when they stop looking for the “next great technical indicator or system” and start controlling their risk on each trade. So my suggestion is that you swap your TV time for trading time for the next three months. Once you taste success (financial and emotional), you will find it easy to devote the time and energy necessary to reach your trading goals.

Take a look at my book, free tutorials and other forex trading freebies at www.sm-forex.com or join my facebook page at www.facebook.com/smforex

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