Tag Archives: strategies
A Profitable Forex Trading Strategy.
Searching for success.
There are 100s of Forex trading strategies that are used by traders, but not all of them have the potential to be profitable. Traders spend a lot of time searching for a profitable trading strategy, but the majority of them never find a strategy that they have enough confidence in, to enable them to trade with big money.
Many traders think that the reason they are not making money consistently, is because of a lack of discipline. They believe that their losses are down to their own inability to follow a profitable trading strategy, when in fact the real reason they cannot make money is because their strategy is weak.
I agree that discipline plays a major part in the success of every trader, and it is something that is very hard to truly master, but you also have to have a proven trading strategy to work with, or you have no chance of success. When you trade with a great strategy, and you have mastered discipline then you will become a very successful trader.
Finding a profitable trading strategy.
The problem faced by many traders is finding a strategy that has the potential to make profit consistently in the Forex market. This was a major problem for me when i first started out, as i did not know what worked and what did not work.
Would i be wasting my time and effort trying to learn something that would never be able to make money consistently. I know that this is a problem that many traders face. You can waste years learning and back testing strategies, only to find out that they do not work, and its very frustrating.
I am fortunate that i am a quick learner, so it took me a lot less time to wade through all the crap and get to the really good strategies that can make you lots of money.
Are you a frustrated trader?
When you first start on your Forex journey you inevitably come across many Forex training websites that will claim to be able teach you how to trade. So many traders will invest a few 100 bucks in something and start to learn what is being offered.
After a number of months or even years of learning, the majority of traders are left frustrated because of their lack of profitability.
I know of many such websites and training providers that claim to be this that and the other, but in reality they do not understand the business at the level required to be able to offer training, and although they are not charging a fortune for their services, its the time that you lose that’s the real killer.
The lost years learning to trade.
It is very important that you find the right trading strategies to learn, as it takes years to be a truly great trader. Yes you can be profitable in a few months with the right training, but to be consistent week after week month after month will take a lot more time.
Time is an extremely valuable commodity that some people do not fully respect. Yes you may have lost a few 100 bucks learning something that doesn’t work, but how long has it taken you to find out, and how many more strategies will you learn, that do not work either.
You can get back the money you have spent on these crap websites when you finally learn how to trade, but you will never get back the time that they have taken from you. I have been there, i have wasted my time on their shit too, and although the money is insignificant, the time that they have taken from you is very significant, and lost forever.
The strategies i teach.
I trade and teach many strategies, but everything i teach makes money. I do not teach strategies that are not profitable. I value time above everything else, we are not on this planet for very long and your time and mine is very precious, and i would never take time from anyone and teach them crap that does not work.
My Forex training course is not cheap, but its worth every penny i charge and more. The knowledge that i have about the Forex business has been built up over years and years of chart study, time that i will never get back, but its been time invested wisely by learning some really great stuff that i can now pass on to my students.
Knowledge + Time = Success.
This simple formula is all you need to be a great Forex trader, but the most important part of the formula is knowledge.
Time on its own will not bring you success. Time will bring knowledge, and the more time you invest, the more knowledge you will have, and the closer to success you will be, but learning to trade this way is the wrong way in my opinion.
The quickest way to learn, is to find someone with the knowledge you need, and invest the time with them, and success will come much quicker. If you have ever learned anything in your life you will most likely have learned it from someone else. Learning to read, learning to drive, learning your job, so why would learning to trade Forex be any different?
Beware Of Forex Training Websites With Buy Now Buttons.
Strange warning you may think? Why should you beware of Forex training websites with buy now buttons, or subscribe now buttons?
Well lets look at it logically. What does it say about someone who is prepared to take your money for something that may, or may not be what you need? It may be what you want, but what we want, and what we get, are two different things right? We all want a better life, we all want to make loads of money, and work hours that suit us, and spend more time on holiday, and more time with our friends and family, but its not as easy as that in the real world is it?
So on your journey to provide a better life for yourself and your family, you stumble across a Forex training website, and think, this looks like a good idea, they are telling me everything i want to hear, it fits in with what i want from my life, and the price looks reasonable, there is a buy it now button, so i am going to go for it.
Now just think about what you are doing, you are not buying a dozen eggs, or a bunch of bananas, you are investing a whole lot of money in a new business idea that could make you a small fortune if you pick the right mentor, or it could cost you a hell of a lot of time, money, and heartache, if you don’t.
Forex training websites.
There are 100’s of Forex training websites online that all claim to be able to teach you how to trade, but can they really deliver what they promise? These companies and individuals that claim to be able to teach you how to trade Forex, don’t know who you are from Adam. How can they make a judgement on everyone that visits their site, and claim to be able to teach them how to trade. They don’t know your background, your financial situation, your level of education, or your suitability for this business, but they are more than happy to make big promises, and to take your money via a buy it now button.
Now despite what many of these sites have to say, not everyone has what it takes to become a successful Forex trader. Its a job that 95% of people fail at. So what does that say? Its says that no matter how many of these sites you visit, and pay your money to, you are 95% likely to fail. But who cares? Well you do obviously, but do they? No they don’t. As long as they have your money that’s all they care about. Some of my students have paid out a lot of money to many different training websites before they decide to come on board with me. They have also lost a hell of a lot of money in the markets too, by following the weak trading strategies that these websites promote.
When a potential client contacts me i assess their suitability for this business, and if i think they are not suitable i will tell them. If i think they do not have what it takes to become a successful Forex trader i will not take them on, its as simple as that. I don’t make any bones about it, and i will tell people the truth. I am not a Forex training company that makes money by making big promises on their websites, but delivering very little in the way of high probability Forex trading strategies. I am a successful trader that wants to pass on his market knowledge to people that have what it takes to succeed in this business. I want to train people to become successful Forex traders, that’s my goal, and if i don’t think you have what it takes, i am not going to take your money.
What do i need to be a successful Forex trader?
To be a successful Forex trader, you have to be trained by someone that cares about who you are, and if you have what it takes to be successful. You also need to be trained by someone that can teach you how the 5% make money in this business. Why waste your time and money paying training companies that teach you what the 95% are doing, you can get that crap on the internet for free. What i teach is how the 5% trade. If you want to be a successful trader that is what you need to learn.
Unlike most of these Forex training websites i don’t need to teach to make my money, i make plenty of money from trading, but i do enjoy teaching, and i am looking at the bigger picture. I want to find and train people that can manage multi million dollar accounts, people that can run hedge funds, people that can compete with the best traders in the world, that is my ultimate goal. The amount of money that can be made in this business is unlimited. And i want to find and train people that can trade at the highest level.
So, if you are considering entering this business, please think very carefully about who you decide to employ, to teach you how to trade. And ask yourself, do these all singing all dancing Forex training websites with big promises, really have your best interests at heart, or are they just interested in taking your money, and teaching you the same old crap that you can get online for free.
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Barclays Put A Price Target Of 141 On Cable Within 12 months.
Cable took another leg lower on Friday as better than expected jobs numbers came out of the US, adding more weight to the already strong dollar. Barclays have a price target of 141 on Cable within 12 months. The longer term charts are pointing to a target of around 140, but i think we will see a move higher over the coming weeks before any further downside.
Fundamentally the UK have put out some pretty good numbers over the last few weeks hence my bullish short term view of Cable, but talk of US tapering in the next few months may limit the upside of dollar pairs, so the longer term view of Cable is bearish. As tapering starts we should see dollar strength initially, but traders are always looking forward so that strength could be limited as the UK and Europe economies start to come back.
I have had a good couple of weeks trading wise and have banked over 400 pips. I am spending a lot of time teaching, so my trading has suffered a little as a result. As i don’t trade when i am teaching, but i don’t mind. I have made a commitment to my students and i will be there for them as long as they need me.
The training is going very well, and i have taken on 2 new students. One started this week, and one will be starting in August. The student i have taken on this week has been trading for a number of years with not a great deal off success, so he is very keen to learn my strategies and get back all his losses. The student i am taking on in August has never traded before, but has always wanted to get involved with the business, and has come to me through a recommendation from one of my other students, which is great news. Recommendation is the best way to generate new business, and i am happy that my students are recommending my services to their friends.
If you are currently trading Forex and are struggling to make consistent profits week after week, please consider my Forex training course. It is nothing like what you may have seen before, and it will totally transform your trading.
If you are in the markets this week, keep your stops tight, and try not to lose too much money. 🙂
Recording Of A High Probability Euro Dollar Long Trade 17th April.
I have made another recording of a high probability Euro Dollar long trade that i took today. The recording is quite long as i wanted to get as much live price action into the recording as possible, so please watch it to the end, as the end is the best bit. 🙂
Its a counter trend trade off a key reversal level. Its quite a brave trade to take as i was trading against the news that the ECB may cut interest rates in the near future which saw a big sell off in Euro Dollar.
I was confident of my level though, so i had no problem taking the trade. You will see from the recording that i picked the entry and the exit of the trade very well. My entry was within a few pips of the low of the move and my exit was within 2 pips of the high of the move.
The recording is below, i hope you enjoy it.
If you want to learn how to trade Forex using high probability trading strategies, please consider my Forex training course.
I will not be trading or teaching for the next 2 weeks from Friday as my wife and i need some sun, so we are taking 2 weeks holiday, cruising in the Mediterranean. Its such a hard life being a professional Forex trader. I will be answering emails and calls while i am away, as the ship has a great internet connection, but i need a break so i am not trading. I will catch up with you all when i get back, sun kissed and refreshed, and a few pounds heavier no doubt. 🙂
Anyway enjoy the recording.