Forex Trading Wisdom

From yen-to-pounds.net

"Most successful traders achieve success by controlling risk. Controlling risk goes against our natural tendencies. Risk control requires a tremendous internal control"…. Van Tharp "Most successful speculators have success rates of 35-50%. They are not successful because they predict well prices, but because the size of their profitable trades far exceeds the size of their losses. This requires internal control"... Van Tharp "3 consecutive losses or even a dozen consecutive losses does not mean your next trade will be a loss. Yet, you strengthen the chance of it greatly when you believe you are in a slump. Why ? ... (full story)