How to get back into Forex trading ?
If you have ever traded Forex and fallen out of love with it, it will only be because of only one reason: you are not making enough profit. Nobody has ever said, “I made a lot of money in Forex but then stopped loving it”.
So it comes down to Mastery of Forex..or at least consistent results!
Think of Forex like starting a new business – it is just as high a failure rate. All new business startups have a high risk of failure of up to 95% in their 1st year. So don’t think forex is the worst industry for success, there are plenty on par with just as high a failure rate. The success, however, is worth the struggle.
Here are a few steps on how to get back into the game
Step 1 on how to get back into forex trading and fall in love with it.
First, be super honest and ask yourself why you stopped loving Forex trading? As I said,, there will be one or two reasons: Either you lost a lot of money and it hurts since the neuroscience behind losing money is the same neuroscience as emotions you feel if you experience the death of a loved one.
Losing a lot of money is not to be taken lightly, money has such a powerful emotional trigger in our nervous system, it’s no wonder the banking world has a history of individuals committing suicide due to financial bankruptcy.
That is why Fortune Academy’s mantra has always been “mindset before money” and I teach my students to have a healthier relationship with money before embarking on trading the financial markets or setting up a new business!
Another reason people fall out of love with forex is by taking the losses so personally! They start labeling themselves as a failure. That is a major problem. I tell all my students that losing money is part of the game in trading forex but the main thing is to control how much you lose and yes can control how much you lose!
That’s why I created The Rolling Risk Management™️ system which is based on me watching some incredible hedge funds in action and improving their risk management further so that you can always feel safe with your trading! If you are my student at any level (beginner to advanced) then you are already using it.
Step 2 on how to get back into forex trading and fall in love with it.
The second reason I often hear from ex-traders is that they got “too busy” to trade forex. Let’s be honest, this is really an excuse because if you are making enough money in something I guarantee you would not stop. All our trading systems at Fortune Academy require you to trade no more than 1 hour a day, so there is no time excuse at all. Everyone can find that 1 hour no matter how busy, especially if it will create a life-changing income!
However, the real problem is more likely to be that you traded with too small an account. In the western world, we are all aware that living costs can be a good few thousand pounds a month. Thus when you trade a £100 account and expect that to do miracles for you, you can easily become deflated and demotivated! So my advice to you is to simply trade a larger account size that you respect and can actually create more life-changing profits.
The bonus is that you will also learn from your trading mistakes faster since you will take note of the losses more when you have a more serious level trading account!
This way you will think like an investor and not as an amateur trader gambling with your forex trading account.
Step 3 on how to get back into forex trading and fall in love with it.
You need a safe broker. If you’re reading this and you have traded before, as yourself:
Did you have a good relationship with the broker?
Did they respond to you quickly when you needed support?
How was the withdrawal process? If it took longer than a week to get your money back, that is a red flag and you should be very careful with such brokers.
In a nutshell, Fortune Academy teaches you step-by-step how to find a regulated good broker through its Fast Track Forex course so that you don’t have to worry about the horror stories you sometimes hear with forex brokers.
Step 4 on how to get back into forex trading and fall in love with it.
You need to be a part of a trading community. Trading can be one of the loneliest experiences since we live in a digital age and without a doubt, we can go days without ever meeting someone face to face. That can be good of course for some, but that can also be very destructive since you lose a sense of reality. In bad times, you can also spiral downwards when things go wrong!
So a support network is crucial! If you rush into forex and keep on losing trade after trade and you don’t know what you tend to do then you will only get worse. All my students are part of the “Fortune Family” where they have access to coaching groups and coaching calls led by either myself or my trading coaches!
Beware free online forex groups and forums since they will most likely be powered by brokers who will entice you to trade very badly since they win when you lose! I always encourage face to face groups – and we do this through zoom calls or in-person get-togethers too, as well as the private FB groups.
In the worst-case scenario, if you can’t be a part of such communities then I recommend you to at least read trading books or books on human behavior psychology since that will definitely help toughen your mindset on all areas related to trading! It’s a life-long journey :).
Step 5 on how to get back into forex trading and fall in love with it.
Last but not least, you need a trading journal where you can actually write down your emotions about what you are going through in trading. Many amateur traders overlook this, but professionals do not. I have had one of my students create a profit of 92% in 5 months last year and he attributed that fully to the power of the trading journal!
You need to understand your emotional journey with trading since a bad mood can make a significant effect on the performance of a trade. I also encourage students to take screenshots of entries and exits so that you can really understand what a good entry and exit looks like and most importantly, learn what a bad trade looks like!
Losing money is never fun even after years of experience you still get disappointed when you lose a trade since that emotional connection is real. However, with a solid trading journal, you soon bounce back and it keeps you very accountable.
So there you have it – 5 steps to getting back to enjoying trading and most definitely falling back in love with it! You can also apply this approach to crypto and stock trading!
Good Luck and don’t hesitate to speak to my Education Team about joining our lifetime trading programs in both Forex and Crypto! Book yourself onto a free call here: https://calendly.com/fortune-academy
See you on the other side!
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