Can Forex Be Taught By a Trading Coach?
This article will explore the argument of whether a person can actually learn to trade Forex from a trading coach or mentor. So the question is, can an aspiring trader be taught to Forex successfully or is it something that is more innate?
There are a lot of theories and different arguments in the Forex industry regarding the ability of a person to learn forex trading from a trading coach. And there are a variety of responses are given by different people. Based on my personal experience, here is what I have to say about the matter.
I deeply believe that it is very possible for an aspiring trader to learn how to trade if they are prepared to do what is necessary. And “what is necessary” means the ability to be realistic and learning an effective trading strategy. But there is another part of this necessity. And that is learning the “trading psychology”. You need to know that, the trickiest part of trading business is the Trading Psychology. I have to say that, it does not matter how good a trading mentor is, the most important part of trading is the student’s mind and trading psychology in creating success or failure.
Nature or Nurture?
A trading coach can only teach a student about the trading psychology but at the end of the day, it is up to each individual trader to work with their steady mindset and develop necessary trading factors like discipline and patience. Most forex traders fail because they simply over trade and succumb to addictive behavior with their trading. In trading, if you practice this behavior then it will not take much time to destroy your trading career.
You need to be confident, disciplined and patient if you want to develop your trading business to secure your future at a comfortable level. So, whilst trading can be easier for some people, in fact it is not impossible for anyone. With enough efforts and passion you can overcome your trading psychology problems. So, it is proven that, trading can be taught by a coach but success depends on each and every individual trader’s behavior and skills. Because, a coach can only teach you but it is you who have to follow the guidelines of the coach. If you follow them properly you will be succeed otherwise fail.
Successful Versus un-Successful traders
You can learn an effective method and all about your strategy and all about trading psychology and money management, however there is always going to be the “gut feel” element that can heavily influence a student’s success or failure in the markets. Successful traders do some things that are unsuccessful traders do not. The most of the traders want someone to give them a Killing machine that will help them to earn huge cash from the trading markets. But it is true that, there is no system available or there is no possibility to invent a system like this. So, a trader has to make profits by learning trading strategies and market research.
You have to develop your trading skills and strategies to be stay safe financially in future. And that’s why you have to spend more time to develop your skills. A trading coach can only teach you all of the factors about a successful trading, but success and failure depend only on trader’s effort and skills.