How many of us will succeed in Forex?

Many of us have probably heard the statement that 95% of beginners lose in Forex and remaining 5% become successful.

A common commercial travel in Forex starts with a demo account and develops online account with more positive or negative results.

We have own simple research that aimed to find out how long on average plan demo traders trade Forex before going live. We have offered traders to vote on our poll. Here are the results.

Visit the page of survey results

Although it would be wrong to say that these are exactly the results that prove the theory of "95% to 5 %", the data had to be quite interesting.

Traders who proposed to invest real money after 1 to 6 months of demo trading consisting of 68% of all voters. There are 17% that was giving about 1 year and 6% who said that they will be demo trade for 2 years or more.

Our research may not provide an idea if all of these merchants will change their minds at will live in Forex after that period of time, but we can assume that many of them are more or less stick to their plans.

You have probably already made your mind on the option that you would vote in our poll above.

See how many of us will succeed in Forex?

If you chose to open a Live Forex account after 1-2, and up to 6 months of demo trading, your chances of successfully manage your Live account are rather thin. Exceptions will happen, but speak us for the majority of Forex traders.

The reason why we made such verdict is that regardless how much you each day to study Forex, 6 months are too little to acquire the necessary experience and digest of information on Forex trading, be able to test long enough to invest in any trust money by relying on the knowledge acquired and start trading successfully.

Traders who have well desired spend approximately 1 year to the negotiation of demo had probably been already indirect Forex for a time and gained some initial experience, enabling to analyze the time needed for proper learning and more realistic research. These traders were initially more likely to manage live accounts correctly, but it will take much more time to be able to achieve stable performance. Their risk sooner or later lose all are still high; Therefore, unless they consider at least another year of practice and the study we can add them to our initial group of 68% of the risk. Total now would be 85%.

Yet again, why we are so strict end the verdict? In any field professionalism is never reached in a short time. Students studying for 5-6 years in universities for a profession, a champion of sport must work on his body and his skills for years before receiving his first gold medal.
Learning Forex in one year making the most of us financially independent.

The "no need to demo" category lists both: traders who voted for the opening of real account in immediate Forex and learning while direct trade and traders who already had real accounts. This category was made to help maintain the quality of the voice on the other vote options.

And finally, we have 6% remaining traders who proposed trade demo and practice for 2 years or more before going live. This small group has the greatest potential to succeed and achieve its financial objectives in Forex. We can only add here a well-known wisdom: "success in all what you do is hard work, learning and passion for all tasks and the choices made.

What is our advice after all?

If you happen to be in the Group of 85%, simply plan of studies and trials and later open a live account with a more serious approach.
If you belong to rest 6% of traders, go ahead and stick to your plan.

What practical value does this research is to an average Forex trader?

With few exceptions (which we all want to be part, but let's be realistic), there is no fast in Forex profit and financial miracles.

Demo trading is a large and free to test your skills of Forex trading and practice, as long as is necessary. Be seriously to invest money means real, be seriously to learn how to manage in artificially created conditions.

But forget the direct trade!
Direct trade is still much better way to learn more about the real challenges in Forex. Many Forex traders confirm that after Exchange with real money, they must revise their points of view on the Forex trading.

It is strongly recommended that you open a real trade account for an overview of the real Forex. Caution! Do you rush in to earn money with your first online account, to approach things with wisdom.
If your business skills are not really exceptional so that you can confidently manage large funds, do not invest much in your first live account. Consider new live account as account live-test. Test your skills online manage a small scale and the possible (!) much smaller trade: up to 1000-2000 units, so that your balance not be not affected many, even if your first Exchange attempts to result mainly in the losses. Find a broker that allows to open a mini account trade with small lots.

And finally, our scheme of success in Forex.
Demo trading - live-test trading - live trade
Between each step at least 1 year of experience exchange.

Your business success!

Edward Revy and my best strategies Forex team
http://Forex-strategies-revealed.com/
Copyright © Forex strategies revealed

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