We often read it and listen to people saying that trading is a losing game and 90% of the traders lose money. Now we have not heard about any actual conclusive study about the percentage of successful traders but yes many people lose money in trading. On the other side there are number of traders who are very successful in it and earning their living out of it and if they can do it you can do it too.
Ari Kiev in his book “Trading to Win”, states “believing that an outcome is possible, makes it achievable.” He quotes the example of famous runner Roger Bannister who was first to break the barrier of running a mile under four-minutes. After he achieved this feat people started believing in this possibility and soon many other runners accomplished this once considered “impossible” feat.
If you are doubtful of your winning, how will you be able to put your 100% effort in it? (Please note I have said 100% effort and not 100% capital.) Trading gains are certainly not as easy as those young supposedly MNC workers in web ads claim to make by trading forex just part time. Trading can be very rewarding businesses provided (1) you are dedicated to first learn trading (2) you have a robust system (3) you are disciplined to follow the rules. (4) You treat it as a business.
Readers are welcome to share their own experiences about success in trading.
(Contributed by Jitender Yadav)