September 2008
Beginner
252 pages
5h 53m
English
Content preview from The FX Bootcamp Guide to Strategic and Tactical Forex Trading
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COMMON THREAD
We have something in common; we are both a little bit crazy to trade forex.
I’m sure if you stood on the corner of a busy street and asked everyone who passed by if they were interested in putting money in one of the riskiest financial markets on the planet, they’d laugh and say, “No way, Jose!”
Most people are sane. They like going to their 9 to 5 jobs. They like their secure paychecks. It’s steady and reliable. All they have to do is lay low in their cubicals and attend a few meetings. This makes them appear busy and helps them to get through the day. It may seem to be guaranteed poverty to risk takers like us, but to them, it’s risk free and they like it.
Sane people run from risk. Not you and me. For some reason we are attracted to it. This is the entrepreneur inside us. It’s our common thread. We have a high tolerance for risk, and we like the potential of big rewards. It’s also our greatest downfall!
Our entrepreneurial spirit attracted us to forex. Now you must learn how to harness, shape, and mold that energy. If you don’t, it will lead you to your doom. Forex isn’t about assuming risk. Success comes with the management of risk.
Think of it this way. Hedge fund managers, central bankers, and corporate financial officers are the people who control the forex market. Not small retail traders like us. We are entrepreneurial. They are not. Their personalities are quite the opposite. Those guys are number crunchers, bean counters, and financial geniuses. ...
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