There aren’t many guarantees in the Forex market. But one guarantee I can make is that there’s no successful Forex trader who is trading today for money he needs tomorrow.
In other words, trading Forex to gain a certain amount of money within a specific time period.
I’m not saying that you can’t generate the majority of your income from trading Forex and do it full time. Such a statement would contradict my own experience.
What I am saying is that no successful Forex trader needs a win today to pay the electric bill tomorrow.
No trader can sustain that kind of pressure and become consistently profitable. That type of environment will only foster destructive emotions such as fear and greed.
This topic takes us back to the notion that the best Forex traders don’t try too hard.
If you need the money from trading to pay bills, odds are that you’ll feel pressured to win. If you’re feeling pressured to win you’ll most certainly be trying too hard instead of allowing the market to do the heavy lifting.
The bottom line is this…
You should only trade with money you’re prepared to lose. Don’t trade with the money you need to pay rent or provide for you or your family.
Similarly, don’t allow the money to be your sole reason for trading. The desire for money is probably what attracted you to trading in the first place, but don’t let it be your only desire.
Embrace the challenge and focus on the journey to becoming a successful Forex trader and the money will follow.
Let money be the byproduct of good trading.
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