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Forex trading may lead to financial independence. It can at the very least provide a good second source of income.

However, 95% of traders fail not because they are unable to do it, but because of the fallacies included in this article:

You are only responsible for yourself. You’re on your own, and no one will help you succeed. Forget about the mentors, gurus, and systems that promise to make you rich. Do it on your own.

You must do the task on your own. And if you do, you will not only have the necessary information to succeed. But also the confidence to do so. Maintain the discipline to stick to your strategy.

Everything about effective trading can be learned. Trading legend Richard Dennis demonstrated to spectacular effect. He trained a group of people with no trading experience to trade in just 14 days. They became trading legends as a result. Within a few years, they had amassed hundreds of millions of dollars.

You are not compensated for your efforts. Rather, you are rewarded for the outcomes created by your trading signals. Work Smarter, not Harder.

Learning to trade should take no more than a couple of weeks. After which you should be able to experience currency trading success in roughly 30 minutes or less every day.

The objective is to gain the necessary information and to develop a basic, strong forex trading strategy that you understand and can implement with discipline.

Discipline and money management are essential for making large gains in FX trading.

Forex allows you to substantially leverage your investment. While this generates opportunity, it also presents a danger. You must first play excellent defense, as all strong football teams do, and then the offense will create and capitalize on opportunities.

The forex market is not for those who aspire to be correct all of the time – it is impossible.

The market price is always correct, and you can and will be incorrect a lot of the time. That will not prevent you from generating a lot of money. Simply learn to minimize your losses and take them pleasantly. However, don’t fear, tremendous profits will follow.

It’s a struggle, as seen by the fact that the majority of traders lose. However, if you work intelligently and have the drive to succeed, forex trading provides you with the path to financial independence. And it’s up to you to take it.