Tag Archives: training
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. 🙂
Free Group Forex Training Sessions Are Now Available.
Free group Forex training.
For a number of weeks i have been offering students free group Forex training sessions as a way of further developing their understanding of the Forex business. The feedback i am getting from students is very positive, so i have decided to make the group sessions a regular addition to my education program.
The group training sessions will be every week and will be held at times that are convenient for myself and the majority of students.
They are currently free of charge for anyone that has paid for either the 20 or the 40 hour Forex training course, and is a member of the live trading room.
There is no obligation to attend the group sessions, but they are there if you feel you need the extra tuition.
As with the one to one lessons, the group sessions will be during market hours, so you will be getting the benefit of live market training.
There is no substitute for live market training.
There is no substitute for HP Sauce, and in my opinion there is no substitute for live market training, but many Forex training providers will not teach in a live market, they prefer to make training videos or DVDs to educate students.
It takes market knowledge and skill to train students in a live market, you have to know what you are doing, and to be honest with you most providers don’t.
Anyone can edit a video or a DVD to make the market do what you want it to do, but you have to have a greater understanding of the market to be able to teach it live.
My lessons are a professional Forex traders insight, into the forces that drive the Forex market. I will show you how you can exploit the opportunities that exist, to make money everyday from this business.
Many providers claim to be able to do this, but why are 95% of Forex traders losing money? Because they are being educated by people that do not know how to trade in a live market.
Anyone can trade on paper, but only the 5% can do it for real.
Changes to the live trading room.
As well as introducing the group training sessions, i have also changed the membership of the live trading room.
Anyone that has paid for the earn while you learn option, will now get free lifetime access to the live trading room.
The £195 per month subscription option is still available for people that do not wish to join the earn while you learn program.
I have decided to make these changes to my education program because i want to show my commitment to the success of all my students, new or existing. I am not interested in taking your money and pushing you out into the shark invested waters of the Forex market, i really want to help you achieve Forex trading success.
Many of my students tell me that what i offer is worth far more that what i charge for it, but now my Forex training course is even better value than it was before. So if you want to be trained by the best, and the most committed Forex training provider in the business, then please get in touch.
Thanks for visiting my site and have a great day. 🙂
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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Thanks for visiting my site and have a great day. 🙂
2 Places For Training At This Years Price Are Now Sold.
If you are a regular visitor to my blog you will be aware that the cost of training for next year will be going up. As a good will gesture i was offering 2 places at this years price, for starts in Jan 2014. Those 2 places have now been sold. Thank you Tim and Greg. 🙂
My training at the new prices, still represents exceptional value for money in my opinion, and the opinion of my students.
So if you are considering my training and mentoring program please contact me to book your place at the new prices, for a start in January. You can reserve your place with a £500 deposit. I can probably take on 2 more students for starts in Jan, but after those places are taken you will be looking at April for the next available spot, so please contact me asap to avoid disappointment.
Have a great trading day. 🙂