2. Change your paradigms.
I have told you why you need to change your perspective in chapter 5, “Why 95% of traders fail and what they should do then?”. I can not stress enough that by changing your paradigm is the key to your success.
There are sixteen important perspectives that you need to change regarding Forex Trading. I will talk in details about them after this section.
1. Forex Trading Risks.
2. Why do you want to trade? What is your ultimate goal?
3. What kind of trader lifestyle.
4. Forex trading – business vs. gambling.
5. Forex trading – business owner vs. job owner.
6. Why do you trade Forex, not other products?
7. What is your income expectation.
8. Prediction – Holy Grail – 100% winning ratio.
9. Balance vs. Equity.
10. Margin Trading – Leverage – Stop or Cut Loss.
11. Risk – reward – probability.
12. Trading Costs.
13. Capital Management & Free Capital Method.
15.What skills and attitudes are needed to be successful trader?
16.Trading Profit-Loss Formula.
Below are very crucial paradigms: