Forex is not something you do as a hobby,  nor is Forex a game you play. It is a business, plain and simple. To treat it as anything less is foolishness. If you want a hobby, take up fishing. If you want to play a game, break out the Monopoly board.

Do you remember the reason why you decided to trade Forex? Was it because you wanted something fun to do in your spare time? Where you bored with yourself and thought this would entertain you for a few hours? No. You stepped up because you saw there was a potential to make money. That was your initial motivation.

What is great about Forex is that anyone can participate in this multitrillion dollar a day industry. However, that is it’s very pitfall. It’s a business where anyone can walk up to with any amount of money and enter this vast arena. As a result, there are those that enter the markets and not give it the seriousness it deserves. The want the results, but they are not willing to put in the due diligence that this business demands.

What other business can offer the potential that Forex offers where you can just walk up with any amount of money and get involved? Could you take 5 bucks and open up a McDonalds to work in your spare time? Didn’t think those. It takes money to run that type of business. It also takes an education to understand how that industry works. When you decide to purchase a McDonald’s franchise you are dead serious about business. Treat Forex the same.

The foolish trader jumps in and out of the market on a whim. He believes that his best indicators are his gut feeling and Lady Luck. The business-oriented trader did his homework. He knows why he is entering the market. And more importantly, he knows why he is exiting the market.

You need to control how much you risk at a particular time. The foolish trader overtrades hoping for quick riches. This same foolish trader wants to win every time.  The business-oriented trader understands that not every day can result in victory. Loss is a part of this equation and it is something that needs to be properly managed. A conservative trader should never risk more than two percent per trade.

Ask the foolish trader what his current win rate is. Expect a blank stare or perhaps even a flat out lie. The foolish trader who jumps from system to system might catch three winning trades in a row and will tell you that they have a 100% win rate. The business-oriented trader keeps records of their trades. He knows his business well. He could tell you win rate, average pip gain, as well as what timeframe proves to be the most successful for their evolving strategy.

The FX Trading Network recommends proven systems and strategies that can fit a variety of traders. Simply because someone else designed the system, do not be so foolish to think that all the work is done. The owner of your local McDonald’s did not create the concept. He purchased the franchise rights to it. However, the work is not done at that point. The system must be traded accurately and in a fashion that has already dictated its success.

Always remember that Forex is a business.

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