Success and failure are the two essential things in life. Even in trading, you can’t avoid success and failure. Sometimes, beginners might feel that successful Singaporean traders have not faced any failures. But that’s not true because every successful trader’s life involves losses and mistakes. If you don’t encounter failure, you will not feel the beauty of success. But we are not trying to say that you should make a mistake.
Instead, we want to make you understand that mistakes and failures are a part of your journey. However, before you think of success and failure, think about whether you deserve trading success? What have you done to enjoy success? Do you practice often? Do you make use of a demo account? Well, there are a lot of unanswered questions in your mind right now, so let’s see!
Why did you start trading?
This is one of the main questions that you need to answer. Do you know why you started trading? Do you know the final goal of trading? There are different types of beginners. Some beginners enter the market with the motivation to earn money. Other novices enter the market with the aim of becoming successful. Still others enter the Forex market because everyone else is doing it and Forex seems like the place to be.
Honestly, is this how you make a decision? We don’t think a trader with the mindset to make quick money deserves trading success. Someone ready to learn, analyze, and explore the market deserves trading success. If you are not ready to do any of those things, you will not be able to meet your trading goals. However, the answer to the question ‘why did you start trading?’, will decide whether you deserve trading success or not! Always remember, you can easily become a successful trader but for that, you have to work really hard.
Being a new trader, you need to open a demo account with the top brokers like Saxo and learn the important market details from scratch. After knowing the basics, you should be trading the market in the demo account. Trade as long as you want but make sure you have specific goals. Unless you know why you are trading the market, you will never learn things. You need to have the passion to develop yourself as a professional trader.
Are you eager to learn?
Learning is one of the essential aspects of trading. If you don’t learn, you are going to have a lot of doubts. This is why learning is essential. Many successful people still do what they did at the beginning despite their success. Why do you think they keep doing what they did in the beginning? Is it because of their hunger for money? Or is it because of their passion?
The ones who follow their passion even after achieving success are the ones who truly deserve it! So now, think about whether you are interested in learning trading skills and techniques even though you already know a few. Think about whether you like learning more about trading even though you have enough information at hand.
Are you a disciplined individual?
If you read the stories of successful people, you will understand that almost all successful people have of did have disciplined lives. Without discipline, you can’t achieve your goals and dreams. If you are not disciplined, you are likely to get carried away. This is why you need to turn yourself into a disciplined individual to deserve trading success.
If you answer the above questions, you will get a clear picture of what you are doing. You will think about whether the time and effort that you exert for trading is worth it. If you don’t deserve success, why would you spend time and effort on it? This is why you need to re-work the things you missed and start trading with a goal!