Hello there Forex Traders!!
“Give a man a fish and you feed him for a day; teach a man to fish and he’ll eat forever…”
I’m sure you’ve heard of this expression as it is quite famous. And my apologies if you find this to be a cliché But I think this sentence is able to capture a very wise wisdom which otherwise would take ages to explain… so that’s why I used it.
As my regular readers know, the focus of my educational posts is typically on the implementation of technical analysis. I do my utmost best to convey my knowledge and interpretation of the market on a daily basis.
Of course I hope that you will be able to use that knowledge to catch some pips and make some good trades… BUT… I also hope that you are learning from the articles. My true goal is to “teach you to fish”, or in this case to make you a better Forex trader.
So today’s Forex article will be a bit unusual and a tad different than normal… This time around not the usual technical analysis…… not the usual explanation of tools, or information on strategies, risk management, and trading.
Today I am going to share with you my passion and wisdom….
In my opinion I will be sharing with you the very best tip I can ever give to you…. The key that will really make the difference in your success as a Forex trader!
So make sure to read this entire article! J It will be well worth your time.
But before I reveal the secret, let me start by explaining what is a trading room, and then we will move on from there.
Is there value in a trading room? And if so, why?
Good question. Let me start by saying that you should first carefully consider what your goals and objectives are, as I have discussed in previous two articles named “introduction to Forex investments” and “the ultimate guide to Forex trading investments.” Make sure to read that.
In my opinion, may Forex traders start their Forex career on the wrong foot. Let me explain:
- Many traders only have one thing on their mind: profits and results. A trading room is all about the pips. They focus on results, and not on the process. Results are important, but you are only going to see them AFTER you have done your home work. Not before.
- Other traders are very heavily focused on strategies. They twist and turn in order to find the perfect setup. The setup which never fails and wins 99.9% of the market.
- Some traders want to know everything about the newest indicator. They want to beat the market by creating a strategy which is unbeatable.
Do you recognize a pattern? I hope you do. All of them are looking for the holy grail.
The holy grail is something that is very dangerous. It inspires people to look for short cuts and easy way outs. It motivates traders to invest money and energy in non-productive methods. Don’t fall into that trap!
To succeed in Forex trading, you need to focus on the things which will really impact your bottom line.
And in my opinion the KEY item for mastering Forex trading is MENTOR-SHIP / MENTORING.
Mentoring is the process of transferring knowledge AND experience from an experienced trader to a new / less experienced trader. Anyone can read tens of hours reading books and spend hundreds of hours viewing the charts, and thousands of hours goggling the best indicator, but none of this will have the same influence to your trading as knowledge and experience.
Experience is the absolute most important factor – EVER. Read that sentence again.
You know why?
I will answer that question with another question: how many times have you heard professional traders say that trading isn’t really complex? Tons of time. All of them say Forex trading is simple, but it isn’t easy.
Let me translate to you what this actually means…
THE REAL HOLY GRAIL
it means that you can a good trader using simple methods and not over complicating matters, but that it will not be an easy task to achieve that level.
So the question that everyone must have on their minds right now is: why would it be difficult to implement and use simple methods? If good Forex traders can use simple methods to be profitable, then why is the task NOT easy? Isn’t that contradictory?
The answer is: EXPERIENCE! It is an experience gap. You can read all the books in the world on flying airplanes, but would you be able to fly one with only that? NO. You can view a lot of flying charts and read books about flying, would that help? NO.
You need to build up that experience before you can become the pilot. A Forex trader is the same thing.
But ironically, almost every Forex trader thinks that they can become successful and profitable without the experience. Almost all think that 1 week of intensive trading will and should make them a winning trader, or otherwise something isn’t right.
It is time for everyone to wake up and smell the cup of coffee. This is not reality. Any successful person, no matter what line of business or field, has put in tons of hard work to gain that edge. To gain that knowledge. To gain that experience.
And not only the hard work by the way….. They have made investments as well. Investments in relationships. But also investments in education. Folks, nothing is for free. Especially not valuable knowledge and experience. It surprises me how often Forex traders think they can improve their skills without any need of an investment. Read this excellent article on Forex studying.
THE TRADING LIFE CYCLE
Great traders have reached a stage of their trading where they can implement their knowledge, experience, and beliefs with such a balanced confidence that they don’t need any or hardly any tools, indicators, news, gossips, secret arrows, magical buttons, etc….. They trade blank like that and make money.
To able to reach that stage of trading mastery, every trader must develop themselves via stages. From the very basic baby steps to the more advanced concepts, trades must keep developing themselves one step at a time. There is no short cut. With hard work, discipline, patience, one day you will be that Forex master.
The crucial element in the entire process from starting Forex trader all the way to the Forex master is having a mentor!! And eventually becoming one!
Everyone in life needs a mentor. Successful managers have mentors. Successful athletes have mentors. Successful entrepreneurs have mentors. Why would Forex traders be different? Simple, they aren’t! A good mentor will help you with gaining more knowledge, more experience, more wisdom and your progression as a Forex trader will flourish and boom like never before. And eventually when you get good enough, you yourself will turn into a mentor.
So remember, a mentor is key! And luckily for you, Winners Edge Trading is ready to be your mentor. Via our mentoring program, or via our live trading room.
OUR TRADING ROOM IS THE BLESSING IN DISGUISE
Our live Forex trading room is great. NOT because we make pips with our proven and awesome strategies. I know that most people join because of that. BUT this is not biggest benefit. Without arrogance I can say that I know tons and tons of successful strategies that work. I do not consider them my biggest asset as a Forex trader. By the way, check out one of these strategies that I released for free by clicking here. I consider my knowledge, experience and ability for analysis my greatest asset.
The main benefit for anyone that joins our trading room is the implementation and analysis of an experience Forex trader when analyzing the charts – LIVE! This is the great value. Because mind you, when the room closes, you are back on your own feet. The most important goal for you is to actually learn the business of Forex trading.
When you join our trading room, write down every single word. Write down every fact, every statistic, every detail. Then remember it, rehearse it, practice it, ask questions. Put the effort into it. Ask anything and everything. Soak it up, and then do it again and again. Do you think any athlete become professional without practice? Hell no. Dedicate all you have and do it without stopping.
Does our trading room have awesome strategies that make tons of pips? Yes of course. But that is just a bonus. The real value is in the learning experience. And don’t think you can stay in our room for 1 month and know it all. To really succeed, you need to stick the process and join us regularly for months and months and preferably a year. We do offer monthly payment plan, but I highly recommend the one time fee which offers a great discount.
In our trading room we will be using classical technical analysis. Such as price action, Fibonacci, chart patterns, candle stick patterns, trend lines, trend channels, divergence and multiple time frame analysis. You do not need anything else. You can do so much analysis with these tools that you will faint. These are the tools real traders use. Look at Casey and Nathan, do you see a magical rectangles on their charts? No.
I will show you how you can make awesome, and I mean awesome, analysis on any chart with these tools. It will require patience from your side to understand and learn. But every time you join our room, you will walk away with an invaluable nugget of knowledge and experience which is worth gold. You will see how all these tools will make your Forex trading simple. And you will realize that our Forex trading room will be the most valuable mentoring and the most useful tool you ever had for your Forex trading.
So don’t hesitate any longer… And if you still need more “evidence”, then take a look at one of our recordings of a live trading room session by clicking on the link here.
Join our trading room, and you just made the first yet most important step in succeeding. http://www.winnersedgetrading.com/trading-room-page/
I thank you for your reading.
Thank you so much for sharing this article!!! Much appreciated!! This article can be the decisive edge for a new Forex trading, so every share is worth gold. Thank you.
Wishing you a great weekend and Good Trading.
Latest posts by Chris Svorcik (see all)
- USD Back in Strong Uptrend or Major Fake Out? - October 23, 2014
- 3 Live Examples of How to Remove Bias from Trading - October 22, 2014
- How to Remove Bias from Trading - October 22, 2014
Winner’s Edge Trading, as seen on: