In Forex trading there are 3 facts that are clearly not true, yet the bulk of traders fall for them and get a sift equity wipeout if you fall for them you will lose your money, so avoid them at all costs...

We will look at how to win at Forex Trading in a moment but first, here are the commonly held wisdoms that are not true and lead traders to wiping out their accounts.

1. You can Make a Regular Income

This is obviously not true but there are vendors telling you that you can double your money each month!

This is fantasy land and obviously not true, as you don't know what Forex markets will do, so how can you say with certainty how much you will make? Forex is an odds based market!

In an odds based market, you can only make money when the odds are in your favor and you can make money long term but that's not the same as a regular monthly income. Some will say the markets move to science but that's certainly not true and leads to the next point.

2. You can Predict Forex Price Movement in Advance

A favorite of the far out crowd, who believe so called scientific theories such as Gann, Elliott and Fibonacci. Let's make clear what a scientific theory is:

It's an objective theory that works ALL the time, that's the definition

Do any of the above theories work all the time? Of course not, no system does and if it doesn't, then it's not mathematical or scientific - period.

If prices did move to a scientific theory, we would all know the price in advance and there would be no market. The idea that markets move to science is laughable and there is no evidence to support it.

3. You can Make Big Gains and have Small Drawdown

I have seen systems that say they make 100% gains and have less than 1% drawdown well, that's not reality and you never get a real track record, to support such a ridiculous growth rate to drawdown that's been verified and audited.

If you are seeking big gains, drawdown occurs and even the best traders who double their money annually, will drawdown 20 - 40% at some point, they make money long term but drawdown is part of making gains.

You Need to Think About This and You Can Win!

95% of traders lose money and the ones that do all believe one or all of the above.

The successful trader knows you can make money long term however earnings are erratic in the short term, this is because Forex is a game of odds not certainties. Lastly, to win make profits, you need to take risk. Risk goes with reward.

If you want to get involved in Forex trading and win you can, by getting a good solid Forex education and learning skills.

Most traders don't do this they fall for the get rich quick message, with no risk and no effort but that's not Forex trading and they soon lose.

You can win and enjoy huge rewards for your effort, if you understand the challenge of Forex trading and what the reality really is. If you understand this, you're on your way to long term currency trading success.