Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
-
Welcome Guests
Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.
Search the Community
Showing results for tags 'forex trading truths'.
Found 1 result
-
Truths About Forex and Futures Trading Introduction: I’m not a self confessed market guru, nor am I an expert when it comes to written communication and education. I am however quite the expert at understanding price action and devising trading systems and methods. I am successful, not only at trading money, but at helping people improve their trading. The sole reason I succeed in the markets is because I am patient and I trade setups that repeat themselves over and over. Trading is a sport, like chess, billiards and poker, trading is a game of skill and strategy. My analysis and approach is typically very simple. I use nothing more than daily and weekly price charts, not a bunch of fancy indicators, no fancy bells and whistles. Basic Maths and Price Charts are all one needs to make money in today’s markets. It’s my aim to empower you with simple strategies, and hopefully make a difference to your future trading endeavors. I ask you to open your eyes and see what the market can realistically offer you. If you have $100 in a trading account, you’re not going to make it, $2000 and you have a fighting chance, $10,000, and your chances increase because you have the ability to handle inevitable losses. I will not be filling these pages with useless trading content, and bore you to tears with basic market theory which is available for free on Google searches. I’m going to go straight into the meat, and divulge to you, not only a successful trading method, but help you understand what will help make you successful in the market. The Realities of directional trading. If there’s one thing I’ve learned in the last 5 years, when it comes the topic of wealth creation , weather it be trading share market, the currency market, real estate or even simple business, I find that failure in these fields is mainly due to a lack of discipline or planning. A trader can be given a method to enter traders but the question is, can they stick to the plan and manage the trade properly? Does successful trading depend on your personality or your approach? The short answer is both! If you’re failing, you are a victim of subconscious inhibitions and mental in-capabilities, which all result in “fear” and “lack of personal discipline”. There’s a reason Ex Marines, Army and Navy personal make money trading, I know 2 ex military personnel that succeed in trading, and they both have the same personalities. They are trained in the art of war and discipline. Based on this information, a novice trader, or failing trader should then revert back to practicing a mechanical method which induces discipline and a step by step plan. Even is that method breaks even, you are starting good habits. The reason the owner of a McDonalds Franchise makes money is purely because he follows a proven system with rules and restrictions. Successful trading and investing is no doubt similar to franchise in itself. If you use a method to trade with, and stick to it, manage your money correctly whilst maintaining constant discipline in your approach, the chances of your survival is increased 100 fold. What you really need to know. I want you to understand that before you trade or use this information, that any trading strategy should be just one part of your trading arsenal. My systems work for many, and can work for you, but you must be realistic. All methods lose money, as well as win money, the best approaches are often conservative and trade less often. You are not going to build Rome overnight with this method, but your most likely going to improve your results significantly over time, if not your discipline alone. As I continue to reiterate, a trading plan and disciplined approach is the true grail of trading. I have often found that traders are obsessed with getting on “every move”, when all they really should be doing is mastering an approach to make “some of the moves”. My success can be attributed to the understanding that trading is a conservative game of patience and strategy. It’s a game no doubt, with many players, all whom are usually much smarter than the retail trader. As “small fish”, we must develop skills to jump on the back of the ‘larger fish’ (banks), and ride the tide for as long as possible. That in itself is precisely how trading works. Nial Fuller runs a website for Forex Traders - www.learntotradethemarket.com
