What Thomas Edison Can Teach You about Trading Forex

by Vahid | Success Stories and Tips | Sunday, June 15th, 2008

What Thomas Edison Can Teach You about Trading Forex

Thomas Edison is one of the biggest inventors we know. His inventions made big improvements and progressions in human life. They say he has more than 200 inventions. Was he genius? Definitely he was not an ordinary person but this is not his success secret. There are thousands of genius people but they have not and will not make any changes in anybodies life - even themselves.

What made Thomas Edison a different person? How can you copy him in your life and business? What you can learn from him to improve your Forex trading business?

Let’s know Thomas Edison more through his quotes and I will tell you how you can follow him in forex or any business that you have.

1. Work Smart

“Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Seeming to do is not doing.”

Maybe Thomas Edison knew nothing about the way that we trade forex these days but as you see he talked about having system and planning. Sitting at the computer and looking at the charts doesn’t mean that you are trading or learning forex. You should know what you are doing and what are you waiting for.

If you sit at the computer for several hours per day and you still have no special system (strategy) or you have not learned enough or you have an incomplete knowledge about the forex market and forex trading, then you are wasting your time and money.

2. Work and Wait

“Everything comes to him who hustles while he waits.”

It seems so easy to make money with forex when you just start learning it. Maybe your first few trades with the demo or real account were successful trades and this has made you think that forex is the easiest way to make money. But after a while that you see the other side of the forex market coin, you will get realized that something that you make in several days can be lost in less than one hour. And you will get realized that forex is not easy and it needs learning and hard working.

There are a lot of people who give up after losing some money but only those who follow the right direction consistently and seriously will become good forex traders finally.

3. It Takes Work

“Genius is one percent inspiration and ninety-nine percent perspiration.”

Deciding to learn forex and having enough talent to learn is just the beginning. To become a successful trader, it needs hard working and seriousness.

4. Failing Takes You Closer to Succeeding

I have not failed. I’ve just found 10,000 ways that won’t work.”

You try several different systems, time frames, currency pairs and … to find something that works for you properly. When you see a system doesn’t work for you, don’t think that you have not been able to use it and make it work. Just look for a better and easier system.

When you see that you have not made any money through forex after several months of practicing, don’t think that forex doesn’t make any money or it is impossible to make any money through forex. Be like Thomas Edison. Don’t give up and try more.

5. Don’t Give Up Too Early

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”

Yes! Try one more time any time that you fail. Learning forex is all the matter of practice and gaining more experience.

6. Make it Fun

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”

Do you enjoy trading forex? If you learn or trade forex just because you have to make money, you will not become a good forex trader. You have to take it seriously but you should not do it if you don’t like it. You should not trade forex if it seems boring to you. Try to enjoy it in the way that you enjoy a computer game.



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