Keeping records is a must in any business or endeavour, and it is no different in your Forex Trading….   Keeping good records is a tool for learning and discipline, and will help you grow as a Trader.  If you do not keep good records, how will you measure your performance?  How will you know which areas to focus on and ensure progression?  How will you ever learn from your mistakes if you cannot identify them with any surety? 

Whenever you want to improve any area of your life, keeping records is essential.  If you want to lose weight, and be successful at it, you need to keep regular records of your weight each week, recording the weight loss regularly, so you can track progress.  You may also record what you eat, at what times, etc., etc.  Without it, how do you know if you are making progress?    In the sporting world, runners keep records of their running times, and adjust their training regimes to combat areas they need to improve, as do racing drivers…………  I could go on and write a long list of examples, but I’m sure you see the picture. 

My point is, whatever it is you are doing, either personally or professionally, keeping records is essential to achieving the progress and performance you desire. 

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Well, this is a question I asked myself after several months of Trading Forex………….  After many, many nights, and days too,  of purchasing, learning and digesting Forex courses, purchasing various trading methods, and those ’500 to 1000′ pips a month Forex services, I still found myself with a huge hole in my initial capital.  And,  as the days went by, slowly, and surely my dreams of financial and personal freedom began to fade.   Was I a failure?  Was I not ‘intelligent’ enough to become a trader?  After all, these city trader types all have top degree’s, come from an affluent background, and drive around in Porche’s and Aston Martin convertibles…….. right?    WRONG!    I now regularly have the opportunity to talk with real successful traders, and believe me, they do not fit that stereotype!  Except maybe the cars!   So, the real truth is - Yes,  you can become a successful Forex Trader!   You just need to learn to trade!

First and foremost you absolutely have to remember, Forex is a business just like any other business, and from Day 1, you have to treat it as such.  My first mistake was thinking I just had to log onto the internet in the morning, look at a few charts, open my Broker platform, log onto my recently subscribed ‘Service’, make a few trades, and by lunchtime I’d have money in the bank, and the rest of the day to do as I pleased!  And the next day I’d go and do exactly the same - easy!  After all, I had been sold ‘promises’ and dreams, and I was chasing the dream of riches………………….. not the dream of becoming a successful trader.   There lies a problem!

Nearly all successful businessman, in whatever business they choose, started with dreams of owning and running a successful business or,  if you look at the sporting world, dreams of becoming the best in their chosen sport - World Champion even!  Sure, most of these people will have become very wealthy in the process, but that is a by-product of being very successful in their chosen field!  So, what you have to do is look at the ingredients to their success in their chosen field?  Well I can tell you that fundamentally, it is passion,  committment, hunger and desire.   If you are in Forex just to chase the incredible potential rewards available, and that is your sole focus, there is a high probability, you will not walk the path of success.

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