You may think, “I can’t. Forex trading is only for people with lots of capital and a degree in economics from Harvard.” But it actually is not. There are a lot of people out there who can, if they put their mind to it, work through a lot of the math, understand and follow all the rules and come out with a lot of money.
The point I was trying to make is that you can’t have that level of success without working hard, knowing how to communicate your strategy to clients and how to set yourself apart from other traders – and that’s the key. You also need to make sure you have that discipline to stay focused and make your trades. If someone can come up with their own trading strategy of making money that may not make perfect sense to you, you may need to go off and work on something else. You can also work on your strategy, but you should always make sure you are not making the same trades over and over again.
How do you keep yourself focused if you are so busy making money?
Well, I can’t do a hundred things at once. My job involves about 100 things in a day and my focus is in figuring out how to maximize these 100 things in terms of my profits. Most of the things are fairly routine, so I can take care of everything without taking myself out of that job. I just work on one thing at a time, and then I go back to my work life later. If I can put out a lot of information at the same time, then I can take a few days and be very selective. If I am so busy that I can’t go to work the next day, then I will have to figure out how to put all of the information I have out and make a trade.
What are some of the things that I need to get accomplished in my day?
I go through several things every day. I might spend two hours trying to find a book. At times I may spend 15 minutes researching all the different stocks that are publicly traded and what their performance, and also what companies they have in mind if I am in need for cash. With those tasks, I am pretty clear – it is no bad thing. I also study finance books, newsletters or articles I find and then I try to read them up. Also, I read up on different companies and see how they respond. It is very important for you to read up on these things, but if they are not
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