Whether you are my student or not I genuinely care about your Forex Education. More importantly I'm passionate about every one obtaining a solid financial education - a skill sorely missing in the world. I chose Forex because of the numerous advantages over the other liquid financial markets. It has allowed me to achieve a high level of financial literacy and provide an outlet for my long held desire to teach.
More importantly, Forex education and training has given me the confidence to control my financial future - and that is truly priceless. That being said, we must look past the hype in the marketplace and focus on what it really takes to personally achieve in the Forex market or any endeavor for that matter.
I'm not going to lie to you, trading Forex is not easy. But not for the reasons you may thing. I've found that in the end we are the ones that will ultimately decide to be successful or not. I know lawyers who have failed miserably in Forex and construction workers who are now millionaires. The separator is not IQ, but rather emotional discipline or Self-Mastery. Where is this obtained?
Your Forex education is the key!
Learning yourself will increase your bottom line more than any other single aspect. Let me just preview what emotional elements must be in place for you to succeed in Forex. You will notice that there is no mention of strategy, moving averages or pivot points!
1. Have A Strong Enough "Why" Statement
Why do you want to get your Forex education and trade the currency market? Is it to save for retirement? Is it to supplement your current income? Is it to replace your current job? Are you trying to accelerate your college fund?
The answer to this question must be strong and full of passion! This will be the one element that will get you through the dark times all traders face.
2. You Must Create Momentum
When you begin learning to trade Forex it is exciting and new, but like everything there is a finite Honeymoon period and the effort begins to wade and life takes you away from your Forex education. You must create momentum - pick a time in your schedule and dedicate this to study and trading and continue to focus on the process of trading. Making money should be a secondary thought to placing sound trades.
Imagine where you are going to be six months from now with a solid commitment. Hold on to that thought and never let it go. Work, kids, friends and family - we all go 'em . Don't let excuses creep in and steal your dream.
3. Overcome Any Obstacles
Listen, nobody is exempt from having to climb the learning curve to achieving in Forex. There are no short cuts. Forex education is the best path. I came across a system the other day that is being marketed as a system that "you don't have to learn" to begin trading in your live account immediately. Just watch a video for 10 minutes and you are good to go! Warning!! The sad thing is that the system appeared to built on sound principals, but no system is fool-proof and without your Forex education your risk is 100% if you do not understand when that system can fail!
Create a vision board of pictures that represent your "Why" statement. Put it within eyesight of your trading area. If you come to work in your car - stop listening to the radio and listen to a audio book, if you do not have the money to fund your live trading account continue trading your demo account until you can fund a live account - you will be in better position than 99.9% of the traders who fund an account right away. This why having a coach is so important.
4. Don't Play The Blame Game
You must from this second forward begin to take full responsibility for all your actions. If a trade didn't work out, don't blame the market or the strategy. Playing the blame game will be devastating to your experience. Look at each situation as a learning experience. I always say that in life there are no failures only feedback! I always ask one simple question after both a losing trade and a wining trade:
"What lesson do I need to learn from this to become a better trader?"
5. Don't Quit On Yourself
It's your dream and I want to fight for it with you, because I know what a mistake it would be to just give up and quit. If you quit you will ultimately learn nothing and would've missed an opportunity to turn your "Why" into your reality!
All you need is a Forex coach.
Happy Trading!!
Global Macro Forex and Financial Market Education, Research and Analysis utilizing Elliott Wave, Fibonacci and Gann Forecasting Techniques -
