what they're doing. In order to compete at the highest level in the trading business and
be one of the few truly successful participants you must be well-educated about what
you are doing. This does not mean having a degree from a well-respected university –
the market doesn’t care where you were educated.
2. Forex trading is a zero sum game. For every long there is also a short. If 80% of
the traders are on the long side ,then the remaining 20% are on the short side. This
means further that the shorts must be well capitalized and are considered to be strong
hands. The 80%, who are holding much smaller positions per trader, are considered to
be weaker hands who will be forced to liquidate those longs on any sudden turn in
prices.
3. Nobody is bigger than the market.
4. The challenge is not to be the market, but to read the market. Riding the wave is
much more rewarding than being hit by it.
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