Dear trader,
Over the years I have seen a number of people coming to me
asking what is "the key secret" that differentiates successful
traders and losing traders. I mean, if some of them are successful in the Forex
markets (even a full living out of it) while some others keep on losing their
shirts day in and day out... there must be a specific "something"
that sets them apart, right?
Well, yes! in reality, there's indeed one particular aspect
that makes a world of a difference, and here it is:
This differentiates SUCCESSFUL traders from others:
- SUCCESSFUL TRADERS: They realize that Forex is NOT a get-rich-quick scheme. If it was, everyone would be a millionaire, right? Instead, they understand that in order to be successful from Forex, they need to actually learn how to trade, to read the charts and price action, to apply sound money management rules and, all in all, to be responsible with their trading.
- LOSING TRADERS: They believe that commercial products, such as automated Forex trading robots or black box trading systems are going to make them successful Forex traders. They don't want to study the charts and they don't want to have to "think" as a trader. All they want is to follow an easy A-B-C plan, click a few buttons and to magically take successful trades on a daily basis.
Well, here's the typical evolution flow for most traders
coming into the Forex arena for the first time:
Firstly, most new traders sniff around the internet forums
searching for tips and general information on Forex trading. However, the
information is scattered and unstructured, and therefore it's difficult to know
what works and what doesn't.
Eventually, most traders get frustrated and leave the
forums. And that's when they find the commercial "black box"
systems...
Some new traders leap over this initial research phase
altogether, lured by the neatly crafted marketing plot from the black box
systems developers...
Black box systems are either automated Forex robots (also
known as Expert Advisors) or turnkey systems that are sold around on the net,
promising great results and colorful indicators that will deliver endless
amounts of pips.
These systems are pretty straight forward to use as they
have a clear set of rules, but the system developer never explains what's the
market reasoning behind the system or why they are meant to work at all. The
systems are, therefore, a black box solution that are meant to be traded
blindly by the trader...
Obviously, these black box systems never perform as promised
because... well, because they were never developed by actual successful traders
to begin with.
At the very most, they perform alright under some specific
market conditions but as soon as those market conditions change (the markets
are a breathing beast after all!), their performance plummets never to recover.
In fact, inconsistency is a common characteristic shared by most black box
systems...
And finally, the trader drops that particular black box
system and searches for new ones, probably paying hard earned cash for them,
looking for the next "big thing", the next "magic system"
that will finally drive them to success.
This loser's loop goes on and on: new system, new hopes, new
devastating results... on and on and on...
Unfortunately, by the time he realizes that there's no magic
system, he's probably spent hundreds (or thousands!) of dollars in black box
systems and has probably eaten through a few trading accounts in the process.
Here Are The Four Bullet Points Of The Plan For Long-Term
Forex Success:
- You must trade a solid system: there is just too much non-sense spread around the internet when it comes to Forex trading. Most of the trading systems being shared on different websites, discussion forums or blogs just do not understand the real market behavior and therefore they never have successful trades over an extended period of time.
- You must get guidance from an experienced trader: let's face it, trading is difficult as it is. There are a number of variables to be taken into consideration, plenty of technical elements that need to be mastered, etc. Most of the new traders simply give up along the way before they reach their goals because their learning curve is just too slow and painful.
- You must have the appropriate tools: following the wrong indicators can potential become disastrous for your bottom line. It's utterly crucial that those tools you assist your Forex trading on are accurate and display true price behavior.
- You must take Forex trading seriously: like anything that's worth your while, conquering Forex does take some effort and preparation and you've got to be willing to put in a little bit of work on your end. You know what they say: no sweat, no glory!
The Download Files include:
- London Open Breakout ( 20 Videos )
- Market Flow System ( 11 Videos )
- Market Flow intraday System ( 13 Videos )
- Part Time Trading System ( 17 Videos )
- News Trader ( 14 Videos )
- Part Time Trading System ( 6 Videos )
- 3SMA System ( 8 Videos )
- 3SMA System ( 14Videos )
- Price Action Reading ( 8 Videos )
- Money Management ( 9 Videos )
- Indicators.
- Money Management ( 4 Videos )
No comments:
Post a Comment