With so much noise in the market and social mediums, it’s not about listening to everyone, it’s about listening to a handful of people only, because when you listen to too much sources, you will inevitably get contaditions, because what works for some might not work for others, and if you are constantly chasing information from different sources and different things, you will never commit to one and one only to get results.
So in this post I am challenging you to finally stick to one - don’t be one more with the shiny object syndrome: meaning, you chase all information available, just to justify not taking action with it; I promise you that if you take action with this information you are about to get given, you will profit from it, and you will understand Trading Forex like never before.
STARTING VALUE POINT
So.. How are all these people getting a 70% win rate when the industry average is 80% losses? Well dear reader, by understanding Trading Forex and playing the game as Warren Buffet would play stocks. Slow and consistent wins the race, fast money goes away fast too.
Truth is, the majority of brokers bet against the trade they recommend you to do - that's just how they make their money. Problem is most people listen to their broker, and that’s fine if you trust them, but you should be able to understand what’s happening in the market in real time, like it’s not enough to have your broker's opinion on what you should do when.
SECOND LEVEL VALUE POINT
This is the knowledge separated into categories by order of difficulty from less to more, that you should know about in order to be able to achieve up to 70% win rates consistently, and so the key to making profits after profits after profits.
• How the market works
• Fundamental Trading
• Market Orders
• Charting Tools
• Lot Sizes
• Support & Resistance
• Highs & Lows
• Fibonacci Retracements
• Wave Formations
• Market Reversals
• Technici Indicators
• Equity Management & Trade Plans
As you can see we are giving you here the exact path of knowledge that you should acquire if you want to maintain a 70% win rate consistently - From grounding concepts to fully advanced strategies that will help you learn how to practically implement them on your own to profit in little time onwards to the future.
FIRST LESSON: How does the market work !?
FOREX is really an abbreviation for the two words Foreign Exchange.
But how did it evolve to become what it is today? When the 90s began Banks started to create their own trading platforms, this happened because of the invention of the internet in 1994. While today, there are more than 4000 Banks involved in Forex Trading daily.
So how does the market work?
Basically, any time you exchange one currency for another, you are participating in the Forex Trading market - You might have realized, that you have already been participating in this market a lot of times.
The Forex Trading market is the largest market in the world with 5 TRILLION USD A DAY in trading volume being exchanged worldwide. So there is enough opportunity and room to profit like a pro, even for newbies that are just starting out - for both of you, don’t underestimate the path of knowledge I am giving you in this article.
Why is that path of knowledge gonna assure 70% win rates?
Because that is knowledge ordered by difficulty (from less to more) specifically lined up with conservative strategies / this means that even when you lose, you will in almost all cases win above the lossing point. So when you compound the trades, you will have up to 70% win rates.
How does one properly manage risk?
Let’s start with why one would want to do it.
Pretty simple, whether trading on margin or not (though, especially then), you don’t want to lose your trades, or if you lose, you don’t want to lose an amount that seriously impacts your portfolio.
Managing your risk, means adjusting your trade size, your trade placement, your strategy, to minimize the chance of losing your money.
But how does one do it right?
By following a conservative approach, first of all. Small trade sizes, with the goal to grow one’s portfolio over time, rather than going all in when one is not ready or the entire trade size can just go *poof* and so to say, disappear.
There are known ways on how to minimize risk - there are a couple of well versed Founders that have developed such a strategy for over a decade, and have been teaching it for years.
A question that every active trader asks themselves - and the most important one at that!
Winning trades, just like winning in anything else in business, starts with the right strategy.
Most traders enter the market with no or little strategy - often derived from a Youtube video or the training video classes from their brokers trading platform.
Any of those strategies, that tell you that you can make a 30% return on the month, become rich quick etc.
You will have to forget if you want to consistently win your trades, and thus grow your portfolio and actually make money where most people lose theirs.
To win your trades, they don’t have to be with big sums - they have to be planned, practiced, analysed, and decreased in risk as much as possible.
Obviously, the analytic skills, planning, strategies and risk management have to be learned, practiced and applied properly.
But returns of 7% a month rather than 20% and above - are more than doable with proper risk management, without losing your money to trades that exceed the size you should take with your portfolio’s balance sheet.
Forex is the market with the largest movement worldwide by a long shot - 5 trillion US Dollars worth of daily trading volume!
Naturally, this type of movement attracts a lot of traders from the retail space.
Small ones & private investors, looking to make a whole lot of money with very little effort.
They get a trading account, transfer thousands of dollars into it (or Euros etc, depending on what they want to trade).
Then, the problems start. Alongside their broker, they start making trades, educated by the resources on their broker’s platform.
Without practice or experience.
In the end, between 80 and 95 percent lose their savings to the dream of making it big as a trader.
The issue here is not that it is hard to make a profit in Forex - which it can be.
But rather that traders that are new to the market, start out with the worst conditions, surroundings and education for long term success.
Let’s go through it:
1. They start out with no practice, usually on the first day of opening their account.
2. They trade with a broker that does not have their best interest in mind - on the one hand, the broker only gets paid when the trader makes a lot of trades, since they get a percentage.
So they want the traders to risk as much as possible, as quickly as possible, to get paid.
3. The brokers often take the opposite side of the trade of their customers - since their brokers fees aren’t enough to make a profit for themselves.
4. The education provided and applied in daily trading practices, comes from the mentioned brokers.
A conflict of interest - someone who makes more money if you risk yours to the point of going broke, is not a proper source of education that actually helps you turn a profit!
These are the major issues with the current landscape of the Forex Trading industry on the retail side.
New traders and veterans alike are getting pushed until they have essentially burned their money.
A very shortsighted approach - in a trading field, in which day trading may make sense - but where those who take longer positions and apply their risk averse strategies over time, actually grow their portfolio.
Sounds like a rigged game, right?
One could consider it to be.
So where does one get the proper education as a beginner, or as a veteran who would like to mitigate their risk and keep their hard earned money in their own pocket?
Well there’s some companies that have proven these methods, but Trade Key Lab is the prefered by a big percentage. They offer a learning environment for traders, in which a proven strategy that has generated more than 5 Million USD a year in profit over the long run - with a focus of preserving capital!
Where 80-95% of misguided traders lose their money, their track record shows a 77% win rate!
Taught by an experienced Forex trader in the environment of an online trading institute.
Without conflicts of interest - none of us at the institute are brokers or get paid a fee by them for tricking students! If this type of solution sounds interesting to you, visit them at www.tradekeylab.com.