It was a bitter cold Friday morning and I was just about to place my 32nd trade of the week. I remember the trade and that particular morning very well, I had every reason to, because the previous 31 trades had all been losing trades. I remember thinking how on earth is this possible? How could someone take 31 losing trades even if they were trying?
With shaking hands and a sick feeling in my stomach, I picked up the telephone to call my broker. (yes we still had to use telephones in those days) I placed my order, and my 32nd trade was live in the market.
Ten minutes later my world caved in
Less than 10 minutes later I was stopped out and took another trading loss. That was it! I had wiped out yet another trading account, yet again I would have to explain to my wife where all the money had gone. It was devastating. I sat with head in hands in the depths of despair. Learning to trade properly had to be number one priority.
Six months later I was living in Spain on the Costa del sol, in a beautiful house with views out across the clear blue Mediterranean Ocean, paid for in cash! Today I live in spectacular New Zealand and spend a great deal of my time playing golf with my sons and fishing the world famous Mataura river. Its paradise all over again.
From failure to success in such a short time
What happened? How did I go from complete trading failure to living in Spain on the Costa del Sol (Coast of Sunshine) without a financial care in the world, in such a short time? How was it that 6 months ago I was a just another failing trader and now 6 months on I was sought out by the media to get my story of trading success. Here is a link to a major feature article in Futures and Options World Magazine that came out in 1999.
So.. In 1999 I had a trading methodology that predicted *Note. predicted trending days better than 8 times out of 10.
Just what did I discover about trading that turned me from trading failure into trading success, so fast?
I discovered something that was blatantly right under my nose
And its right under your nose, right now. Most can't see it because they are to busy looking at totally misleading candle or bar chart patterns, instead of learning to trade professionally. They are continually developing trading strategies that completely ignore what really drives the market, and they are listening to the blind leading the blind.
The biggest time and money wasting experience for many traders is that they get caught up, and buy into the false believe that there is a failsafe automatic computerized trading system out there.
This elusive and mystically trading solution is nonsense, pure nonsense, but it doesn't stop some traders wasting years of their lives, and a whole heap of money in search of it.
Just how do you make money trading forex?
The first thing is to stop spending money on forex trading nonsense, second you give up on the pipe dream that you are going to send someone (normally $97.00) for a newly discovered forex trading secret. Third you do not get suckered into the belief that say 'the more something cost the better it must be.
Many would be traders spend a few hundred on $97.00 secrets, find out they don't work and then create a completely irrational belief within themselves, that the latest offering costing several 1,000's just HAS to be good, as that is why it's so expensive. There is a whole heap more daft things that traders do, but hey lets leave that behind and get to the core of how to make money trading forex.
Ok so now we know exactly what not to do. If you have already done the above then kiss the money goodbye, its gone and its not coming back. Its time to move on, its time to turn this all around by learning what really moves the market and how you are going to profit from that knowledge.
The Route to Trading Success
- The complete understanding of what really moves a market.
- The ability to use that knowledge to make profitable trading decisions.
- A set of reliable trading tools
- Acceptance that its your responsibility.
- A complete appraisal of just what your trading is for and who it is effecting.
- Use the single force that drives every market in any direction.
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