Random Musings
The headlines blare, "There are over 12 Million Online FOREX Traders today!"
Look a little closer and you'll read, "95% of traders lose money!"
Look still a little closer and what do you see?
Courses, of course!
Courses that, for a chunk of your money, promise to teach you how to traverse the forex successfully.
*ahem*
Well, Uncle Sam is here to remind you...
Don't give your money to any of these courses!
Why? Simple, if there WAS a system (being mass-marketed) that was any good, YOU would be the LAST person it would be sold to.
Why? Because a trading system that supposedly makes more money than it loses would be currently being traded by its designers, making them so rich they'd hire Bill Gates as their dog-walker and Warren Buffett to clean up!
Instead of throwing your capital away on useless trading courses, here's what I want you to do....
and take it from someone who...
1. Trades the forex live daily with his own cash (apart from the time he is being paid to walk dogs).
2. Has completed initial training on demos for 6 months without paying a cent for some two-bit, overrated trading course (it's called being poor, or really cheap.).
3. Has survived live forex trading for 18 months (although, I admit, some of that time was spent trembling in the corner in a fetal position covered by a blanket).
4. Who has developed a number of original currency trading systems from scratch since, when I first started in forex, I knew nothing.
5. Who has progressed and advanced, himself, in his trading and is not ashamed to state that fact because, due to the nature of high liquidity in the forex, making it highly tradable, I was able to.
6. Who is not charging you a penny for any forex-trading instructions.
Let's see, where were we...?
Oh, yes, here is what I want you to do...
Realize that if you are, or are going to become one of these 12,000,000 people who trade forex (by the way, that did NOT say 12-million people trade the forex successfully!) that you will need to dedicate yourself to learning the ropes.
Know for certain that there is no one person or "course" that will hand you the Holy Grail.
Commit yourself to your undertaking to be self-taught and to advance yourself as a trader, trying different strategies until you find one(s) that work for you.
This does not mean you won't ask questions/gain knowledge and understanding from others, you will!
It means YOU are the one who will ultimately put it together and make sense of it all.
It means YOU are the one who will be responsible for developing your own system of trade based on your own common sense.
Based on trading rules and sound, effective principles you've studied and applied.
Based on diligently reading and studying good books on trading, pulling useful, practical and effective trading principles from these and other sources.
Knowing that for YOU to progress as a forex trader, you are the one who will put the hard work in, and the market time in that's required of all those who ultimately make a success of themselves.
That you will account your times of losing (on demos, hopefully) as effort, not as failure.
That YOU are going on to win because you're a winner! (then again, maybe you're not a winner - if that's the case please let me know your next trade so I can take the opposite side - hey, I need the money!)
To become profitable. To build your own original system(s) that provides you with not only winning tactics but good, aggressive defense mechanisms along with proper money and risk management techniques.
Because YOU are the one who is going to put in the time it takes and to do what it takes to know WHAT you're doing and why you're doing it, and not doing it.
Because YOU know that if the 12-million Online FOREX traders each sent me $1.00 for writing these curency trading lessons, I'd retire in Tahiti, so YOU should really be the one to start the trend.
sKaLpZ
The headlines blare, "There are over 12 Million Online FOREX Traders today!"
Look a little closer and you'll read, "95% of traders lose money!"
Look still a little closer and what do you see?
Courses, of course!
Courses that, for a chunk of your money, promise to teach you how to traverse the forex successfully.
*ahem*
Well, Uncle Sam is here to remind you...
Don't give your money to any of these courses!
Why? Simple, if there WAS a system (being mass-marketed) that was any good, YOU would be the LAST person it would be sold to.
Why? Because a trading system that supposedly makes more money than it loses would be currently being traded by its designers, making them so rich they'd hire Bill Gates as their dog-walker and Warren Buffett to clean up!
Instead of throwing your capital away on useless trading courses, here's what I want you to do....
and take it from someone who...
1. Trades the forex live daily with his own cash (apart from the time he is being paid to walk dogs).
2. Has completed initial training on demos for 6 months without paying a cent for some two-bit, overrated trading course (it's called being poor, or really cheap.).
3. Has survived live forex trading for 18 months (although, I admit, some of that time was spent trembling in the corner in a fetal position covered by a blanket).
4. Who has developed a number of original currency trading systems from scratch since, when I first started in forex, I knew nothing.
5. Who has progressed and advanced, himself, in his trading and is not ashamed to state that fact because, due to the nature of high liquidity in the forex, making it highly tradable, I was able to.
6. Who is not charging you a penny for any forex-trading instructions.
Let's see, where were we...?
Oh, yes, here is what I want you to do...
Realize that if you are, or are going to become one of these 12,000,000 people who trade forex (by the way, that did NOT say 12-million people trade the forex successfully!) that you will need to dedicate yourself to learning the ropes.
Know for certain that there is no one person or "course" that will hand you the Holy Grail.
Commit yourself to your undertaking to be self-taught and to advance yourself as a trader, trying different strategies until you find one(s) that work for you.
This does not mean you won't ask questions/gain knowledge and understanding from others, you will!
It means YOU are the one who will ultimately put it together and make sense of it all.
It means YOU are the one who will be responsible for developing your own system of trade based on your own common sense.
Based on trading rules and sound, effective principles you've studied and applied.
Based on diligently reading and studying good books on trading, pulling useful, practical and effective trading principles from these and other sources.
Knowing that for YOU to progress as a forex trader, you are the one who will put the hard work in, and the market time in that's required of all those who ultimately make a success of themselves.
That you will account your times of losing (on demos, hopefully) as effort, not as failure.
That YOU are going on to win because you're a winner! (then again, maybe you're not a winner - if that's the case please let me know your next trade so I can take the opposite side - hey, I need the money!)
To become profitable. To build your own original system(s) that provides you with not only winning tactics but good, aggressive defense mechanisms along with proper money and risk management techniques.
Because YOU are the one who is going to put in the time it takes and to do what it takes to know WHAT you're doing and why you're doing it, and not doing it.
Because YOU know that if the 12-million Online FOREX traders each sent me $1.00 for writing these curency trading lessons, I'd retire in Tahiti, so YOU should really be the one to start the trend.
sKaLpZ
Wow u were holding for 8 months Thats a long trade !! Wish I still had my shorts from the 1.30s Missed the last few runs down. took profits then some time off. see ya sun.. thanks for the detailed posts. I like to read em..
But you will succeed if you spend a few MONTHS in the demos EVERY DAY..ALL DAY. Now I think I can do this for a living. and bust my a$$ in a new way for myself. no employees no BS. Good luck to all.. Seee ya in the pit.( PS Ive been watching GBP JPY CHF AUD) trying to learn these guys.Made a few on JPY spike up then down.last night. should have held longer down but hit my target.) big run on GBP I wish I was short from the 190s last week. Shoot Iwish I still had my EUR 12950 short I gave it in 12850. Missed all of 127 took that day off.