I remember when I first got the idea of learning to trade when I was a total Forex beginner with no previous background in trading at all. I was pretty excited about the whole thing. Fortunately, that gave me the motivation and the perseverance that ended up being needed for years to come after making that decision.
But if someone just told me some key information I could have saved years of frustration and thousands of dollars on products and services that don’t even work and aren’t needed. If I was at that point right now as a total beginner, I would definitely wish someone would share this information with me in this article.
I’m going to do exactly that, which is to share key information for Forex beginners that will save years of trial and error, searching for different systems and strategies. And paying for all the different products and services that are offered to you as a Forex trading customer. You’ll be shocked that no one ever explained this to you before. You will be very thankful to have the discoveries that you are about to have. This article and the supporting video will be a no holds barred, inside disclosure for anyone who truly wants to learn how to trade as a business, as an entrepreneur.
I’m going to show you specifically what is a scam, what is a waste of money and what really does work in trading so let’s get started with that now. When I first got started with trading Forex, I was sure that within just a few months I would be well on my way to becoming a millionaire. I had visions of myself doing my new business spending just a few moments on my rugged laptop high in some alpine wilderness as I traveled the world happily closing another trade for another 50 000 profit. Enjoying a life that is a cross between James Bond and Tony Robbins.
Well now I know that if I was just getting started in trading Forex or cryptocurrency I would want to know some of the things that I had learned through a long series of trial and error in the school of hard knock so to speak. Bottom line is I wish I knew back then what I know now. I could have saved years of wasted time and a lot of frustration and thousands of dollars of wasted money on products and services training courses that don’t work and aren’t needed. And the whole gamut of products that new traders can end up buying hoping to learn how to trade.
You can google the hell out of every keyword you can think of and nearly all the results that you find will only take you deeper into the world of unethical misrepresentation of truth making you think that you need this particular service or this product. But after you spend the time and the money, you discover that there’s no real result in your trading business.
The stuff I’m about to share you won’t find on any website and it won’t necessarily show up in any search. Where do you find out these things other than through this school of hard knocks which can last for a long time? Well my intention is to make this article/video the place to start if you want to know how to make the path to success and trading really happen and not waste years of your time and large sums of money in the process.
So what is the number one challenge that destroys success? What’s the first challenge that seems to be the downfall of most traders? It literally destroys any chance of success. There doesn’t seem to be anyone providing legitimate information to new traders about this subject. The thing that they really need to know. It’s the unrealistic expectations that many traders have. And this is what ends up making them get discouraged and give up on trading because their results don’t align with their expectations.
This is mostly created by the advertising industry and industry experts that most traders come in contact with in the beginning. Brokers or trading product marketers who fail to tell the truth and are often unethical and dishonest in order to sell their products. So let’s get crystal clear about that right now. You were told this is an exciting 6 trillion per day market! A 24 hour market. And you can just trade at your own convenience using any kind of a simple method and just make all the money you want.
It’s no secret that around 90% of all new traders lose all of their money and give up in the first three months. So first let’s look at how a little briefing, a little honest advice up front along with some basic common sense will make that impossible to ever happen to you. Let’s get clear about it right now and make sure that it will not be possible to happen to you. You ready?
So first, how long will it take to learn to trade and be able to sustain consistent results in your trading business? Six months? A year? Well to be reasonable and consistent with industry norms, around three years is needed. But only if the trial and error process of finding what works is eliminated or shortened.
If you continue with this trial and error process and you try one thing that doesn’t work, it’s a strategy or a method you bought, you purchased software, that can easily take up about a year of your time for that one before you move on to look for more information or search for another strategy.
By the time you try several strategies that don’t work that can easily take up five years of your time. In fact, it could easily take up 10 years of your time. Not to mention several thousands of dollars in education and training and products and tools that don’t work and aren’t needed before you discover that the books, the courses, the seminars that you bought don’t work.
Even if you are studying any strategy that does work, most people don’t know that the subconscious mind sabotages our results and that makes it very difficult to even know whether it’s you or whether it’s the method. Nevertheless, let’s focus on overcoming that first challenge to make sure that it can’t happen to you.
If it takes six months or even three years just to learn how to trade. If you’re practicing what actually works and it takes a certain period of time to develop skills that will be required to see sustained consistent results in your trading business, what would happen in your trading before that time? It takes a certain amount of time to develop this incredible skill of getting consistent results. What would happen in your trading before that time? That’s right. You would lose your money. You would lose your capital.
Is it possible to not lose your capital before you gain the skill of knowing how to trade consistently with results that are sustained? The skill of having a higher percentage of winning trades versus losing trades and the skill of making sure that your winning trades average higher than you’re losing trades.
So trading with real capital is required for psychological development of the trading skill. And you know that before you gain this rare skill of being able to get consistent profit, that you will lose the capital. So wouldn’t it make sense to have a plan to fund as many live accounts as necessary?
It’s not that big of a deal when you compare it to going to college. You enroll in one class and you probably pay around a thousand dollars for one class. Take several classes per semester, come back the next semester and pay for more. It’s a lot more expensive going to school in many cases than it would be to just open a small live account and trade it. If it doesn’t work you lose it and do it again. That’s what would be required.
Okay. So now that you know that, is it possible that you could give up after three months if you lost your account? That’s right. It’s no longer possible for that to happen to you. You won’t do that.
The next big challenge is finding out what really works in trading. How can you find that out? Being able to learn what really works and develop a skill at doing it yourself. A lot of new traders believe that if someone told them a strategy then they would be successful in trading. I’ve had many traders ask me, “What is your strategy?” “Tell me your trading strategy!” As if, if they knew the strategy, then they would be able to trade.
It’s a lot like asking someone, “What is required to become one of the world’s most famous movie stars?” So if somebody told you what was required, then you could do it yourself. What works in becoming one of the world’s best professional athletes in football? You tell me and then I’ll be one of the world’s best athletes. Tell me what works in becoming a great Kung Fu master. If someone told me how to become a Kung Fu master I would be one. “This is the strategy.” Then that would mean that I am a kung Fu master.
Does it make sense that if someone told you these things or from reading a book or even taking a course, that none of this would have anything to do with you having a skill in trading. And it’s not even related to the process of hours of daily practice through years of experience that anyone needs to master the art and science of the business of trading.
I remember seeing a lot of traders posting on discussion groups, “Here’s my strategy for trading: This is a winning strategy. And a lot of other traders searching think, “Oh let me find out that winning strategy.” “This indicator crosses this. And they’re searching for that, thinking that if they knew the strategy then they would be successful.
And to make matters even worse there really are only a few traders in the world who get consistent results but there are many people teaching how to trade. And even professional training and educational organizations in institutions using words like, “academy”, “institute”, “university”. And there are many ways of approaching the whole idea of trading.
And also to make matters even worse, soon you will discover that there is a generally accepted idea that a trader should make up their own trading method according to their personality. You won’t see that idea in any other professional business activity. Normally if there’s a known way of accomplishing something the path to success is to learn what’s true and do what causes the results that you want. Learn what works and do the exact same thing. The idea of using what works best for your personality is completely opposite of the entire known world of the accepted success path material.
It’s universally known that, in general, learning to do what goes against your personality is how you get from being unsuccessful to being successful. If you just keep on doing what your personality likes, you’re just going to keep on getting bad results. Mastery with discipline, what goes against your personality is the generally accepted way of achieving success.
If I decided to become an insurance agent, and the training that I went through told me to start calling databases of cold calling lists and lists of people one right after another. Hang up the call. Pick up the phone again and start calling, calling, and calling. And then my personality said I don’t want to do that. I don’t like talking to people. I don’t want to call people. Well if I decide to be successful in insurance sales, I would have to learn to do what is against my personality if i choose to succeed in that field. And as we know, that is the case with all business success.
The next challenge is that whenever a person becomes interested in trading, the first thing that happens is you begin to be bombarded with advertisements and offers of all kinds of products and services. Services related to trading. And many of them might seem worth exploring or even purchasing. And how would you know unless you bought them and tried it? So that’s how you end up buying course after course, proprietary indicators, software signals, etc.
Chances are, if you decided to learn how to trade you have already bought quite a few products and services and still did not gain the skill of having consistent success in your trading business.
So now let’s take a look at what actually works and what does not. When I was learning how to trade, I found out some things that apparently weren’t known and understood by a lot of other traders. In trading financial markets, almost all the strategies that now exist and all forms of technical analysis were known and used before there ever was any such thing as cryptocurrency. And even before there was the spot market of Forex trading online that is now available, which has only become available since 1997 or so. The first training that I bought had taken some information about Forex which seems like it was from some basic book, or maybe even copied from wikipedia. And then they had a lady with a pleasant British accent, read that. And then that was the course.
“The foreign exchange market Forex or currency market is a global decentralized over-the-counter market for the trading of currencies. this market determines the foreign exchange rates of every currency”
That was the course. They talked about what the market is, and what pips are, etc. There was a trading method that was taught along with that and I didn’t know at the time, but later I realized, “that’s got to be the stupidest thing I have ever heard of!” As far as a way to trade a financial market. So after I started figuring some things out on my own, testing some things out, I wondered why. I literally and sincerely wondered why someone would sell this stuff. Since I was also involved in business and marketing, I soon realized that the industry was filled with people, professional marketers who wanted to have some kind of product to sell in that niche, because it was a hot trendy niche. And people were willing to pay more than they would for an e-book or a course on dog breeding or collecting G. I. Joes. If it was something about trading a currency market they would pay more for that.
So there were many courses that were thrown together by marketing teams who didn’t know how to trade. But sometimes they would find someone or they would partner with someone to play the role of the expert. You can see this now. The companies that are established. It’s the marketing team. Then they got the talent. The person who’s playing the role of the expert. And that person will help with the details of, “Let me just show you some more about how to trade. I’ll make this video and I’ll write this about how to actually trade.” But the marketing will be done by marketing teams.
Another thing happened at that time, I joined a video subscription. At the time it was like the Netflix of trading. Some of you may remember that. Someone had a collection of trading videos, all of it from the 80s and 90s featuring many of the well-known gurus in the stock market at that time. And this is one of the places where I soon learned that every method that had any presence in the Forex industry was already being taught by one of the traders from that period just before online Forex trading ever existed. And here’s what I found out. Nearly every strategy that you can find in the Forex world, and even what is presented in the crypto market was already known and used before it was ever presented as the new Forex Laser Terminator.
One of the most important breakthroughs is that trading on the extreme short time frame, and especially scalping the one minute time frame, is not the best approach. It’s a lie. It’s false. And it can destroy your life. I have seen this myself multiple times. It’s not safer or less risky to trade on a short timeframe. Why do people do it? It’s because of core beliefs and anxiety about staying in trades. It’s because they have personalities that are impatient. And instead of overcoming the impatience they have a bunch of trades on the short timeframe, going with that. “Let me trade based on my personality instead of what works.”
So here’s what you want to do. Find out how charts actually can be read. Now they can be used to trade in general for any financial market. And be aware also of how fundamental analysis and economic data is used for trading. And then just learn for yourself what methods work best.
It doesn’t take more capital trade on a medium or longer time frame. A little bit of math basics can show you that. So you can know that that’s true. I’ve made other videos on this subject and I’m not getting into that here. But let me just say that trading on the extreme short time frame is not the best approach. Not for beginners and not for seasoned professionals either.
So the next thing is any exotic or hyped up sounding name, a hyped-up sounding system of some kind is based on the “dazzling with B.S.” concept. People believe that trading must be complicated. It must require advanced mathematical formulas. It must require advanced software and algorithmic systems. And all of that is not true.
The Forex Artificial Intelligence Blockchain Deconstruct Heat Grid Planetary Alignment Laser System! All a bunch of B.S. To trade you look at charts, read charts, learn to determine if they’re going up or down, and learn to identify if they’re turning. And the way to do that is to notice what’s on your charts. And you do that with your eyes.
The biggest challenge that people have is they don’t believe that any trading method that works, would need to be based on something that can be demonstrated as being true about financial markets. So someone could show you something demonstrating, “This is true.” “Do you see that? Well, let’s go back again until you see it. You see it over and over until you know that it’s true. A trading method that works would be based on something that is known to be true such as being able to identify if the market is turning. Financial markets do this phenomenon. And the way to know that it’s true is to look at the charts and see that it’s true. There’s a lot more that I could get into about what works in trading and I’ve made many videos about that subject. And I also demonstrate it live every day, twice a day in our trading sessions. If you are one of the people who is interested in really learning and mastering what works in trading, I look forward to seeing you there. If you want to know more about what really works just go to tradingmastermind.com and enroll in our free training course that includes over 40 unique exclusive videos that help you to learn what works in training and master the art and science of trading.
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