Hello trader,
Wow, that is disheartening, right? Although it is not as clear cut as it may seem and like all statements like this there needs to be context.
The failure number is skewed because most of the new forex traders dabble.
They don’t take it seriously.- It’s not their fault they just want to make some extra money right? you know get free from the JOB or provide better for your family- whatever that might be-its personal to the individual – to you!!
Trading the forex market is not easy – it can be simplified but it is not easy. There are a lot of complexities- it also does not help that marketers have latched on to the fact that they can provide a ton of material and charge a lot of money!
So why do 90% fail? How does one become part of the 10%? Let’s talk about what it is you want!
You want a process that is simple and easy to understand that will tell you how to trade the market so you can make money – right?
That’s basically what you want but let’s be real for a minute…
The reason that most Forex Traders fail is their MIndset is off – they try and skip the process
A surgeon cannot be a surgeon without going through the right process
-pre med
-med school (after passing entrance exam) 4year
-surgical residency – 5 years minimum
One cannot go from pre med to surgical residency to become a surgeon there is a process. A culinary graduate cannot (well should not) become a head chef right after graduating; they require experience in the form of hours completed in the workforce for valuable experience in the field.
This is applied to any and all careers, jobs, sports,musicians,artists you name it – they all have a process of understanding,learning and gaining experience.This is no different to trading- in fact it’s harder because most will be doing it on the side which then creates a time constraint and the unfortunate situation is that traders judge their growth and success on the final outcome of making money, which if that takes “time” the new trader gives up because to them – “it did not work” but the reality is they were not willing to ut in the time and effort to achieve the ultimate goal.
Or to be fair most do not actually know what it is they need to do!
As most humans are a product of human DNA which is instant gratification they will jump to another “shiny object” to hopefully achieve their goal.
This is the preverbal hamster wheel of repeating the same cycle and not going anywhere.
Jumping from one system or educator to another is NOT THE ANSWER!
So what is the answer? Let’s look at that for a minute.
Stephen covey an author who wrote 7 habits of highly effective people, has a saying that goes like this – the main thing is to keep the main thing the main thing!
Great quote however if you take this quote literally in Forex Trading the main thing is to make money obviously right?
However the statement lacks context so let’s dig a little deeper….If the main thing is to make money, how do we do that?
By making winning trades- right?
Okay so if we need to make winning trades how do we do that?
Now we are getting somewhere.
So to make money we need to make winning trades that’s the main thing – is it?But we don’t know how to do that consistently -YET!
Let’s go further –
how do we make winning trades?
Now we are realizing it’s not so easy because we need to find winning trades
So what’s the main thing now?
How do winning trades come about?
What do we need to know to make a winning trade?
Let’s break that down…
What does a trader need to know to make a winning trade?
1- Trend direction
2- Current trading direction
3- Where is the price going? (target)
4- What if I am wrong?(stop loss)
5- How does a currency increase its value (strength) against another currency
6- How do I enter the trade?
7- How do I exit the trade
8- What makes the currency pair move – up or down?
Okay the main thing now has started to really evolve here right?
This is what I am trying to point out is that the main thing is not about making money it’s not about winning trades No!
The main thing is for a trader to understand how this market works and how it pushes the currencies in the direction they are going.
If you google how to become a successful Forex Trader you will find a list very much like this one.
Understanding how the market moves – the supply of money
Learn the fundamentals – Central banks, Economic data,
Learn the technicals (reading the charts)
Learn money management (risk to reward)
Mindset – limiting beliefs,expectations.open mind,
Control your emotions – Greed,gambling,fomo,revenge trading
Have a trading system – your way to trade.
Develop a strategy to find trades
Have a trading plan
Have a mentor
WOW -This is the challenge right – how and where do you start?
It starts with number 5 -MINDSET!
When you get this right – the rest becomes easier.
Have the right mindset to know that this is a process, it is a journey it will take time and it will require work!
Have the right expectations and understand your realities so you can prepare and plan this process and your journey the right way- this is the Main thing!!
So the main thing to be clear
CREATE AN UNDERSTANDING ON WHAT YOU NEED TO DO
WHAT STEPS YOU NEED TO TAKE
WHAT INFORMATION YOU NEED TO LEARN
HOW YOU PUT IT ALL TOGETHER
So you can…………
Get on the right path to make informed decisions so you can trade with discipline,confidence to achieve consistent winning trades with controlled risk so that you will be profitable!!
You want to have a step by step process of what actions you need to take and what components you need to learn and focus on to provide yourself with a solid framework and a foundation to grow and master the art of Forex Trading.
This pathway will provide you the backbone for you to create belief that will develop you into a confident trader so you can find these winning trades so you can make money so you can – do whatever it is that you wish to do
The SFT live workshop will provide you with this framework – we break down the steps and actions that you need to do to become part of the 10% club!
A no holds barred no fluff down and dirty interactive workshop that gives you the exact blueprint you need to do, and not only do we tell you what to do we will SHOW you how to do it!
How to prepare yourself for the process
How to plan for your journey in line with your situation
How to look at the fundamentals
How to look at the technicals.
How to deal with the biggest challenge you will face-YOURSELF!!
Laying the Groundwork: – Building Your Pathway to Success
– Mindset – Expectations vs Realities
– Prepare for the process -Daily Routine
– Plan for your success – Daily Journal/TradingJournal
Navigating the Economic Forces: – Mastering the Fundamental Game
– Central Banks
– Monetary Policy
– Effects of Economic Data
Trading with Precision: – Harnessing the Power of the Technicals
– Market structure
– Riding the waves
– Identifying levels to trade to.
What all new and struggling traders should do to 10x their probability for success!
Do what you need to do that the majority…..
So who is this workshop for?
Well I would say anyone that wants to have an inside look at what they need to do to become a Forex Trader:
If you have the desire and the willingness to do the work then this is for you!
If you want to know what it is you have to learn and do – this is for you!
If you are curious – you think Forex trading might be for you but not sure- this is for you!
If you don’t know what it entails, or you are unsure where to start! -this is for you!
If you have been trading for a while and are inconsistent and feel lost -this is for you!
Who is this not for?
Well quite simply if you are looking for a ‘give me’ program this is not for you!
If you are not willing to put in the time and DO THE WORK! then this is not for you!
If you are going to whine and complain about your life and how bad things are – this is not for you -No Negative Nellies allowed!!
The SFT Live Workshop will finally give you the answers you need and one of 2 things will happen –
You will come away with a clear process on what you need to do and you will be excited and willing to get going
You will realize that this is not for you – and that’s okay!
Now you know, so you can keep looking for that vehicle that will achieve your why!
Don’t miss this opportunity to join our SFT Workshop!
Sign up to the waitlist now and take the first step towards understanding what you need to do to become a confident and profitable forex trader.
Seats are limited, so secure your spot today!
Oh and by the way I forgot to tell you how much the investment will be. It’s…
So take charge of your future and sign up now – and I hope to see you in the Workshop
Simple Forex Trading 2023 – info@simpleforex.com