Tag Archives: profit
Learn How To Trade Forex Like A Professional Trader
I don’t often share trading statements on my blog, but i have decided to share this one, as it shows not only that i have the skills and market knowledge to be able to teach you how to trade like a professional trader, but it also shows some interesting statistics regarding profit and loss.
To be a successful trader.
To be a successful trader you have to have market knowledge. Knowledge is by far the biggest asset to a successful trader. Many traders say that psychology or discipline are the most important things you have to master. They say that if you are not a disciplined trader, or you do not have the correct mindset then you will not succeed.
Both of these attributes are needed to become successful, but having the correct market knowledge and understanding the forces that drive price, is the most important thing you need to learn. You can have the greatest discipline in the world, but without market knowledge you will not be successful.
The importance of profit and loss.
Profit to loss ratios can sometimes be overshadowed by win to loss ratios, but profit and loss is a key factor to long term profitability. Lots of traders are turned on by a high win to loss ratio, but winning 99% of your trades is no good if the one loser blows out your account.
The statement below shows where you need to be regarding your profit to loss ratios.
When i am hitting it out of the park i can have a win to loss ratio of above 95%. Yes that’s pretty impressive i know, but its the profit to loss ratio that really counts. As you can see from the trading statement, the win to loss ratio is 73.98%. Now while that is not particularly high, the profit to loss ratio is very good, with a gross profit of £34,763.81, against a gross loss of £3996.01. Which is a profit to loss ratio of almost 9 to 1.
How do you achieve a high profit to loss ratio?
Cut your losers quickly and let your winners run. I am sure you have heard that statement before, but its probably one of the hardest things to do in trading. No one wants to take a loss, that’s completely natural, but letting your losers run too long will kill your profit to loss ratio.
To achieve a consistently high profit to loss ratio you first have to have a great strategy. When you have developed your trading strategy you have to trade it as mechanically as possible. If the reason for entering a trade has changed, then get out of the trade as quickly as possible.
For example. You enter a trade at a specific price point as you expect the market to go in your favor. As soon as the market does not do what you expect it to do, and the reasons for entering that trade are no longer valid, then exit the trade. There is no point sitting in a losing trade hoping it will come back.
Sitting in losing trades hoping they will come back just grinds you down. It also stops you from looking at other trading opportunities, as you are glued to the chart, watching every move your losing trade is making. Just take the hit and move on. If you have a good strategy then you will soon get back that small loss.
You can see on the statement that the largest profit on a single trade was £427.60, against the largest loss on a single trade of £74.89. So even though the win to loss ratio is not that high, the profit to loss ratio is. So a consistently high profit to loss ratio will always trump a high win to loss ratio. If you can have both then that’s even better.
Learn how to trade like a professional trader.
If you want to be successful in this business you have to trade like a professional. All professional traders have sound market knowledge, and good profit to loss ratios. Forex trading is a cut throat business. This is not a Sunday afternoon kickabout in the park, its a ruthless business where only the best traders will survive.
You have to be on top of your game if you want to mix it with these sharks. If you are not the best you can be, they will eat you for breakfast. Trading at a professional level is something that i believe is almost impossible to learn on your own. Getting educated and mentored by a professional Forex trader is a must as far as i am concerned if you want to trade full time and make it your job.
Yes i would say that, as i offer education and mentoring. But listen, i am a trader first and an education provider second, and that is an important thing to remember. I am not a Forex training school, that offers the same old rubbish you can get on the internet for free. What i teach, you cannot get on the internet, or anywhere, free or paid.
My Forex training course is not cheap, but when you have the market knowledge to enable you to turn £10,000 into over £40,000 in less than 6 months, then i am sure you can see the value in what i am offering. If you cant see that, then i am sorry but i can’t help you.
For more information on my Forex training course please click here.
Thanks for visiting my blog and have a great day. 🙂
193 Pips On Thursday For One Of My Students.
Hi folks, apologies for not updating the site but i have been very busy during the week and i have been enjoying my weekends. I got into this business to have more free time, but since i have started teaching i am getting less of it. 🙂
I do enjoy teaching though, and it gives me great pleasure to see my students doing well. Its also summer, and i want to be out enjoying the weather while it lasts. I do like the nice weather and we get so little of it in the UK, so i am trying to make the most of it before the long winter comes along.
Trading over the last few weeks and been good, not as good as it should be as i have been focusing on helping my guys understand what i teach, and i don’t teach and trade at the same time, but i have still banked over 700 pips so far this month. Considering i have been out enjoying the sun and teaching for most of the month, i am quite happy with that. Its not all about the money, its about enjoying life too.
My students are doing very well though, my best student made 193 pips on Thursday, and regularly gets over 100 pips per day. I am over the moon with his progress so far, and he will have many 200 pips plus days i am sure of that.
My target, and the target of all my students is 100 pips per week, but if you get stuck in you can easily make 100 pips per day. A lot of people who read this blog do not believe how successful my stuff is, and how well it works, but if you decide to trust me and come on board, you will soon see how powerful my stuff is, and how easy trading can be when you understand how to read the charts. My guys are taking their trading to a whole new level based on what i teach them.
Its very rewarding for me to know that i am teaching a method that works consistently for every person that uses it. I know it works, as i have been trading like this for years, but when you are teaching someone else how to trade, you always worry that they will not understand it, or you may not be able to convey the information. But so far so good, all of my guys are learning my stuff, and are very happy with how i teach it.
So if you are reading this post and you are one of the 95% that are struggling to make consistent profits from your Forex trading, please get in touch with me. I can guarantee 100% that what i teach you will take your trading to a whole new level, and your investment in my Forex training course will be the best investment that you will ever make in your Forex education. 🙂
Student Makes 87 Pips From 2 Trades After Just 5 Weeks Of Training.
The training is going very well at the moment, one of my students made 87 pips yesterday from 2 trades after just 5 weeks of training.
I am very pleased with the progress my recent new students are making. They are all taking trades on their own and making money, which makes me very happy indeed.
Since i have introduced the earn while you learn training room, my students are learning from me every day in a live market, and their training is taken to a whole new level. I give market commentary throughout the day, and explain the trade set ups in great detail, which is having a big positive impact on the learning curve of the people that are in the training room.
When i set up the earn while you learn training room, i was not really prepared for the effect that it would have on my trainees understanding of the Forex market, but i can honestly say that it has exceeded even my expectations. So the room is here to stay.
Any new students that take advantage of the earn while you learn option, will now have the added benefit of the live training room to accelerate their learning and understanding of Forex trading.
As well as my training activities this week i have also had some nice trades.
Here is the trading update from this week.
Monday i took 2 trades for a total of 45 pips. I took Cable short for 30 pips. I also took AUD short for 15 pips.
Tuesday was bit of a scalping day as there was not a great deal happening. I took 4 trades for a total of 49 pips. I took Euro long for 10 pips. AUD short for 12 pips, Cable long for 15 pips, and a cable long again for 12 pips.
Wednesday i took 4 trades for a total of 84 pips. I took AJ long for 27 pips, AUD long for 20 pips, UJ long for 10 pips, and UJ long again for 27 pips.
Thursday was a bit of a crazy day i took 6 trades on Euro for a total of 114 pips. I also had one loser on Cable for -34 pips.
Friday i was busy for most of the day and i did not take any trades.
Total trades for the week 17. Total pips 258. Not bad for 4 days. 🙂
If you want to learn how to trade Forex like a pro and bank pips every week, please consider my Forex trading course, it will totally transform your trading and change your life.
I am currently taking deposits for new one to one students starting at the end of July. If you wish to reserve your spot please let me know asap.
Have a great weekend all. 🙂