In the 1980's trading legend Richard Dennis set out to prove that anyone could be a trader and that trading is a learned skill. So he got a group of people who had never traded before and taught them how to trade in just 14 days. He then sent them out into the big bad world to trade and the rest is history. They made Dennis over $100 million dollars in 4 years and went onto become trading legends.
So, if it's that easy to Forex Trade, how come everyone doesn't win? First, like anything else you want to accomplish, you need the right education. But you also need something more which Dennis understood and you need to understand as well.
The trading method he taught was simple. It was essentially a long term strategy with strict money management. Dennis knew that it would be hard to follow though, so he taught them everything they needed to know so they would have the confidence to execute it with rigid discipline through long periods of losses so they could achieve long term success.
The missing link for most traders is Discipline, they hear the word but have no idea what it really entails. Executing a system with discipline is tough when you start taking losses for weeks on end. Don't believe everything you read on the internet about little or no draw down, it happens to ALL traders. Even the great ones have losses that can last for weeks or months. This is why you should never ever risk more money than you can afford to take a loss on. What you have to do is stick to your plan. If your system is sound you will hit the big profits. The only way you will ever acquire discipline, is if you know your system, how and why it works, and why it will win.
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