In order to trade the Forex market successfully, you must have a Trading System that you can rely on. This holds especially for those who want to trade the Forex market to earn a living for life.
From what I've gathered so far, the keys to successful trading boils down to 3 main points:
- Money Management
- Strategy
- State of Mind
Among the three, Mario Singh associates 55% of the success to the trader's state of mind. This goes in resonance with what Alexander Elder wrote in his best-selling book Trading For A Living.
The Trader is the Weakest link in any Trading System -Alexander Elder
Money Management comes second at 30% and only 15% is attributed to Strategy. Let me explain more in detail below.
