I have found that my problem with trading is that it takes time to be profitable. I'm so used to just clicking something and having it become real. I mean with almost everything I do, all I have to do is hit a button and it happens.
What I fail to really keep in mind is the power of compounding interest. To illustrate this fact, I am attaching a spreadsheet for compounding interest from Forexoma (yes the broker that scammed me). I renamed it because, well, I don't want to be reminded every time I look at it.
Find the attachment here:
http://www.forexfactory.com/attachment.php?attachmentid=1400839&d=1396826953
So, let's say I start with usd 1000 and have one really good news trade each month: 6% gain per month
With the news trading model though, it is perfect for working full time also because you only have to be at the computer 15-30 minutes, not even every day. Obviously the problem with SNW elite is that the subscription cost cannot be covered with just one trade with just a 6% gain per month.
To really profit, one would have to have a larger account depending on leverage available.
But you can see that trading really does require patience resulting in compounding gains. I am not a patient person, and this is my biggest problem.
The keys to succeeding at forex for me are patience and persistence.
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