Wednesday, 31 August 2011

Rich or Right, It's Your Decision (Part 2)

Welcome back fellow traders. I know that you have just been dying to get to part 2, the final part of this series. Well, I don't want you, my readers, agonizing any longer; we will give you, as it were, "the rest of the story."
We ended last time talking about how so many people would rather be right 90% of the time and lose money, than be right 10% and actually make money. I know that seems like an odd statement, but throughout my years, I have found that it is very true with a good majority of the people. That's right, being right is THAT important. If you aren't sure of what we are talking about, please check part 1.
Now I know you are probably scratching your head saying, "Why in the world is being right so important?" Well reader, you ask very great questions, I'd be happy to answer it for you. Actually, there are two main reasons that we are so driven to be right and ONLY focus on that aspect. The first reason is that while we are matriculating through the school system, we are constantly being conditioned to be right. The second reason, and probably the most overlooked, is that many of the industry giants give the little people (just like us) what we want - ways to be right - which tends to perpetuate that "right" myth. I'd like to explore these reasons a little closer with you.
First, from the time we enter into school until graduation, the school system's entire stressing point is the importance of being right. You are taught there are ONLY 2 answers, the right one and the wrong one - you are further driven to always choose the right answer. If you finally graduated or "survived" that atmosphere, it means that you were perfectly indoctrinated that you ALWAYS need to be right.
The tests that were administered were used to measure your performance; your instructors wanted to see how frequently you'd choose the right answer. If 70% or so wasn't achieved, you were labeled as a failure. Then, as if being called a failure in public isn't enough, a "report card" is sent home and the failing grade is accompanied by a comment that "Tom is just a little slow" or "Maybe Tom is a smart student, he just doesn't apply himself." By this time, if your ego and self-esteem hasn't been crushed, it is dragging the floor. You are a failure!
There's no wonder why, when those kids grow up and become Forex Traders, why they ALWAYS want to be right. Though always being right can usually cost Traders dearly (in profits), the fact that they are right, is what continually drives them. So we can say with surety that whether you have been educated for 20 years and have a double doctorate or you've only had an elementary education, you have been conditioned to always being right!
The other reason that Traders want to be right is that the different service providers that are available for Forex Traders and investors feed that bias to always be right. First, all the software vendors provide software that can be altered and optimized - to suit your trading patterns. They are designed to help you be "right." The problem is that on paper, they work really well; however, in real life - not so good.
But never fret because professor AC is here. I know you are probably feeling overwhelmed and asking if there is any solution to the problem. Obviously! Otherwise I wouldn't have spent so much time explaining the problem. "So what's the solution," you ask? Get into a good Forex training class and learn HOW to trade, not just how to be right. There is a difference in trading and always being right and trading and always making money. If you would prefer the latter, find some entity that offers Forex training - FREE! There is no need to pay someone thousands of dollars for them to teach you to lose money. You want to learn from someone who has proven they can earn - PERIOD! Find a Forex class, enroll and begin your trading career all over again.
For more information on how to join our FREE Learning Center and begin taking classes for FREE, be sure to visit NBCX online at
As always, happy trading...
Mr. Brewer
NBC Exchange
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