The question is can anyone become a winning forex trader? Yes anyone can in my opinion. The only thing that is required is a winning trading plan. If you have not developed a good trading plan than dont enter the forex market. First develop one. Forex markets are not going anywhere. These markets will be there next year and after that. Enter only when you are prepared.

There was a great experiment conducted in trading history. This experiment is a perfect example of how a winning trading plan can help you become a great trader. Interested, then read on about the Turtle Trading Experiment.

Richard Dennis and Bill Eckhardt were two partners, great traders and commodities speculators. Both were arguing one day in the year 1983 whether great traders were made or were born.

Richard had the opinion that great traders could be made through good training while Bill argued that great traders were only born. They could never be made. To clinch the argument, Richard suggested that they select and train a few traders to see how they perform after the training.

The Great Turtle Trading Experiment in history was born that day. An ad was placed in the Barrons, Wall Street Journal and the New York Times. 1000 people applied for the experiment.

Only 13 applicants were selected after shortlisting and interviewing 80. Those selected were known as Turtles.

The students were trained and given a complete trading plan alongwith the rules how to apply it. Richard always would say: I give these rules to anyone. But as long as that person is not consistent in applying those rules no matter how tough the situation, they are useless.

So, the actual success in trading whether forex, stocks, commodities or futures lies in having a good trading plan; You need to have a trading plan that is exact. In other words is mechanical and ruled based does not depend on your emotions. Learn to control your emotions in trading.

After that comes, the discipline to apply that plan in reality. Without discipline and consistency; you can never become a great trader!