I’m sure you’ve heard that 95% of people who try to trade Forex don’t succeed. Yes, that means that only 5% are making the money! Does that scare you? It shouldn’t, because it is not as bad as it seems (especially with a service like Strignano’s Forex Signals on your side).
Here is a video I made on this topic…
The reason these percentages shouldn’t scare you is this 95% failure to 5% success rate is not all that uncommon if you think about it logically.
How many of you wanted to become a Black Belt after watching one of those Kung Fu movies when you were younger? I know I did. And some of you might have even joined a Karate class. But how many of you became Black Belts? How many of the other students in your class made it to Black Belt status?
If you walk into your local bookstore, you’ll see thousands of books by thousands of different authors. And I bet each of those authors wanted to be on the Bestsellers list. I mean why go through all the trouble of writing a book if you didn’t want as many people to read it as possible. But the truth is, very few authors make it to that exclusive list.
I could do this all day, put I think you get the point. ANYTHING that requires dedication, skill development and effort has a large amount of people who don’t “make it”. It doesn’t mean it is impossible or even that hard to be successful. It just means that most people are not willing to do what it takes to be part of the successful 5%.
It Is Not As Simple As 5% Winners And 95% Losers
Let’s talk about the 95% that don’t “make it”…
In my opinion, it is not as cut and dry as 95% of traders lose and 5% of traders win. There are two groups inside that 95%…
- There are the traders that are NEVER going to be successful. (Sorry, while I think anyone can learn to trade Forex there are those people that just won’t do what it takes to learn it).
- There are those traders who are on their way to being successful but haven’t made it yet. (I don’t think many people can jump into a any new skill and be immediately successful).
So if you are not already successful trading Forex, the real important thing to concentrate on is not what group of the 95% loser and 5% winner you are in… but what group of the 95% you are in. Are you in the group that will never be successful. Or, are you on your way to success but just haven’t gotten there yet.
Here are characteristics of traders who I think will NEVER become successful…
- They believe there are definitive answers in Forex
- They think they can make a full time income with a part time investment of time and effort
- They believe there is a trick or gimmick that will keep them from having to learn anything
- They refuse to accept their responsibility for success
- They jump from one system to another blaming the system every time
If you are in this group I think it is going to be very hard for you to become successful unless you change your attitude. Even if you join a complete service like Strignano’s Forex Signals, I think your unrealistic expectations and unwillingness to accept your responsibilities is ultimately going to get in the way. Don’t get me wrong… I think Strignano’s service is the EDGE every serious trader is looking for, but you still have to do your part.
Part of the reason I am doing this bootcamp is to help you realize which group in the 95% you are in right now. If you someone that thinks they can make a fortune in Forex without learning, applying yourself and developing the skills of a trader… the only thing I can suggest is you reevaluate your attitude towards trading Forex. Really, stop looking for the magic button that eliminates YOU from the success equation.
However, if you are at the point where you realize anything worth accomplishing is going to take time, effort and dedication… I think the bootcamp can help you get to the success zone faster. Strignano’s Forex Signals is more of a mentoring course than a signal service. Tom’s goal is to teach you to trade Forex like a pro… not turn you into a mindless order taker. That is what the training, tools and signals are designed to help you accomplish.
In Terms Of Strignano’s Forex Signals, Let Me Show You What A “Destined Failure” Does…
A Destined Failure joins the service and takes the first signal that comes out because they want to start making money right away.
- They don’t watch any of the recorded training videos.
- They don’t watch any of the Daily recap videos.
- They don’t attend any webinars.
- They don’t read any of the “Rules of Engagement” PDF’s.
- They don’t learn any of the other trading methods.
Oh no, they can’t be bothered with any of that stuff.
What they have really done is put ALL the responsibility on the service and eliminated their role in their own success. When they fail… in their mind it was not their fault, it was the service’s fault. And in my opinion, this is the attitude of a Destined Failure. The success stories take responsibility for learning the trading and taking full advantage of the all the tools and advantages of the service. The service is you Unfair Advantage over other traders… but YOU are still responsible for your success.
OK, I think I’ve rambled long enough on this point. Please think about this. If you are not willing or able to put in the time and effort to become successful, Strignano’s Forex Signals (or any Forex service for that method), can’t help you. Re-evaluate what your goals for Forex are and what you are willing to do to reach them. If you aren’t willing to put in the time and effort, do yourself a favor, and don’t trade Forex.
On the other hand, if you are willing to put in the time and effort, I can think of no better service than Strignano’s Forex Signals.
- Watch the videos.
- Use the calculations Tom gives you.
- Get on the Skype chat room.
- Attend the webinars.
- Ask questions.
Get in with the right expectations and put in the time and effort once in… and you will be happily surprised with your results.
Click here to see all the post in the Strignano’s Forex Signals Bootcamp
If you have any questions, please leave a comment below…
If you enjoyed this post, make sure you subscribe to my RSS feed!
Hey Ed, great info. Thanks for taking the time to help others realize the importance of being successful. Talk to you soon.
Thanks Kevin,
I’ve got a lot more coming that is really going to go into detail. I just wanted to make sure we were all on the same page and that my readers know they are given a huge advantage with this service… but they still have to do their part.
By the way, did you watch the free Setti Ponti video training Tom put out as part of the relaunch of the service. If not, you can see it here: Setti Ponti trading system
Yes I did. I watched it a couple times and when I get started next week will practice the position style trading on the side until i get a good hold of it. In the beginning I want to keep it simple with the signals, TRN’s and my favorite – the head fake. Your blog has really helped me stay in touch with what is going on so I will be ready out of the gate. Thanks for the help!
No problem.
There is going to be some more cool info coming out this week. And I’ve got some more great info to share as well.
I think keeping it simple is important. That is the great thing about this service… you get so many tools and methods that you can come up with a trading style to match your personality and goals.
I agree. Starting next week I will finally be a full time trader. I’ll take it slow at first until I get my trading style down and my rules set.
[...] If you haven’t already, I suggest you read this post and watch the video there: Why Some Forex Traders Are Destined To Fail… Even With A Service As Complete As Strignano̵… [...]