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forex business model

​Here's ​the ​first thing​ you need to understand about trading:

There is no ​reliable way to make fast money​.

The only ​way to get ​​get rich ​quick ​​is by being extremely lucky.

​This doesn't stop most people from trying, though. And ​most of the time, they​ end up losing¹⁾​​.

​You see, ​​Forex trading is an endeavor ​that rewards the long-term ​business builders at the expense of the short-term opportunity seekers.

If you want to succeed in this business, you can't approach it with a short-term mindset.

Short-Term Thinking

​Many people first ​get into trading with a short-term focus. Their goal is to make within the ​first ​12 months.​

They ​think ​- understandably so - that making money ​last month means ​they are on the right track.

What they haven't realized, however, is that trading results over a period of 3 months or less are largely random.

Here the thing ​you need to know:

  • You can trade with a losing approach and ​​make money over the next few ​weeks
  • ​You can ​trade with a winning approach and ​lose money ​over the ​next few ​weeks

​Winning traders understand that weekly or even monthly results are poor indications ​of long-term performance.

In the book Fooled by Randomness, ​Nassim Taleb explains this with an example:

​"​A 15% return with a 10% volatility per annum translates into a 93% probability of success in any given year. But seen at a narrow time scale, this translates into a mere 50.02% probability of success over any given second."