It is said statistically that 90% of the people who enter the Forex market end up failing and thus losing all the money they used to trade. But why are all these people ending up failing with so many strategies out there and such a big chance of building up a fortune?

The simple answer is: They don't treat their trading accounts as their businesses. Yes! Forex trading is a business. If you reject this idea you have failed or will probably fail as part of that 90%.

When you deposit your first $100, $500, $1,000 or whatever... you are making an investment to start your own business. That money needs to be carefully managed on each trade because if you don't, your business will collapse. Everyone knows a business needs to be run with patience, responsibility and most of all discipline.

Newbie traders are in for the big bucks, and that is not bad at all. I am in for the big bucks as well and I actually have a big amount on my trading account. However, newbies want to make the big bucks overnight and that is the BIG mistake. We all know that trillions of dollars are flowing every day through the forex market but that doesn't mean we get to have a big cut of the cake right on day 2.

Trading is a skill you need to learn based on discipline and self-control. Humans are greedy by nature and that has to be ripped off from us when trading. We cannot expect to have 100 pip gains on our first day (unless you have been practicing with a demo account that won't happen).

Forex can really change your life as it has for many of us. The key to build a successful forex business is to go for small but consistent earnings at first. Then as you grow your trading account and you are confident with your skills, you will be able to trade bigger amounts of money and get growing at a faster rate. I dare to bet that most of the successful traders that have made forex their living, started this way. It is recommended that when starting you only trade 2% of your trading account on each trade. As you get confident with the market and your skills get it up to 3-5%. When you feel considerably comfortable then you will be able to trade up to 10% of your account.

You can't just enter the market and get rich tomorrow. Unfortunately that won't happen. But if you are disciplined and get to know the principles you will become successful and believe me you will make a fortune if you do it right.

Good luck with your trading and don't be greedy!

Yokiro.