With the amazing growth of the Forex market, you are going to see an astounding amount of traders lose all their money. Unfortunately, they haven't followed the simple steps I have laid out for you. Go through these steps and give yourself the greatest opportunity for success and to achieve your goals.
1. Have Faith In Yourself
To reach the level of elite Forex trader, you must trust in yourself and your Forex trading education. You must be willing to make all your trading decisions, instead of relying on someone else's thoughts or ability (or lack of). Of course, you will prepare yourself fully before ever risking any money.
2. Accept Your Learning Curve
Unless you are a veteran trader, you will lose money trading the Forex market. This is a near certainty. I don't say this to talk you out of trading. In fact, quite the opposite. You will be trading against others that fall to this reality day in and day out. You, however, will not risk any money until you have learned the skills you need to make money trading the Forex markets.
3. Decide What Type of Trader You Are
There are many ways to trade the Forex markets. They range from very active to very patient. You must decide which style suits you best. The best time to learn this about yourself is while you are trading a demo account. There is no need to allow your learning curve to cost you money.
4. Get Educated
Education is the shortest path to elite Forex trading. Regardless of your ultimate goals, you will reach them quicker with a great Forex trading education. Take some time to review different options before deciding on who to trust with your Forex trading education needs. Speaking or learning form an already established trader will help shorten your learning curve drastically.
5. Continue to Get Educated
In order to achieve and retain elite Forex trading skills, you must constantly be adding to you knowledge base. Your education should never end. In fact, one of the key points to look for in an elite Forex trading course is ongoing education. It's nice to have an ongoing relationship with the person/people helping you to achieve your goals.
What separates an elite Forex trader from all others is their desire and ability to be independent. Many traders are willing to follow signals, systems, strategies, or anything else that may help them advance in Forex. By taking this approach, however, these traders are only as good as the people they follow.
An elite Forex trader will lead. Their decisions will be calculated and analysed to near perfection. They will make decisions with no hesitation, and handle the growth of their account in a predetermined, intelligent fashion. Take your trading to their level and you will never look back.