IMPORTANT FACTS AT TRADING

Did you ever wished for a time machine to turn back time and get around all the mistakes you made

at the beginning of your trading career? Sadly there are no time machinces, but all of you traders

that are new , can learn from more experienced traders. If you are ready to listen there are alot of

mentors like me that can help you on your way to the top.

By reading this article you won’t avoid all the mistakes that can be made on the market, but you

might avoid the bigger ones that a lot of new traders made because they are misimformed. By

avoiding those mistakes you can save alot of money, time and mental anguish.

Let me tell you about the things i wish i knew about trading back when i first started.

Take one trading strategy, learn it and keep it

Many beginners come into the market and just starting trading without even knowing what their

entry or exit criteria are, they are just pushing buttons and hopping to get lucky, just like in a casino.

First of all you need to have an actual trading strategy and master it, not just learn it. You need to

become a master of one trading strategy and stick with it, otherwise you’ll never stand a chance in

the markets.

Maintain capital in the beginning

Traders ran out of their risk capital quickly in the beginning, because they don’t even think twice

about the need for capital preservation. The irony is you can learn a lot in your early days of trading ,

but if you spend all your money you will have little to no money left by the time you will learn how

to run in the market.

You must survive long enought to get to the point where you can thrive. You don’t want to spent all

your money,time and energy before you reach expert status. Trading is not just for very smart or

wealthy people like many think. But you need to keep going and overcome difficulty, particularly in

the beginning. You need to learn how to manage and keep your capital and risk. Don’t get trigger

happy to quickly or you will soon join the traders on losing ranks. You don’t want to be an expert

trader without money.

Don’t focus on one advantage sort

Don’t just trade Forex, don’t just trade stocks, don’t just trade commodities, etc. You must look

through different advantage sorts, because that way you have the best chances to make profit. I look

at the major FX pairs, major indices and major p as well as researching potentially lucrative

investments in companies. I keep my options open and don’t limit myself when it comes to the types

of markets I trade or the investments I make.

However, that does not mean I am looking at every market under the sun. I actually don’t look at

most markets, rather, I have several in each asset class that are my favorites and for the most part I

stick to those. You can learn more about this in my article on the most profitable markets I trade.

Keep your focus on trading performance not on the money

Most traders become obssesed with their trading account balance. They think about it so much they

think it can only go up and when it goes down they start to over-react. That is probably the base

reason for most trading failures. Traders get to concerned with their money instead of performance

of their account. Yes that are two very different things.

Your trading account performance is easily reflected in the equity curve of your account, which is

something most trading platforms will provide you with via a report. Once you start being more

concerned with a consistently rising equity curve, instead of the dollar value of your account, your

trading will increas immediately

That equity curve is not just a reflection of your trading account, it is also a reflection of you, your

strengths, your weaknesses. Show me a consistently rising equity curve (even with some dips in

between rises) and you will also be showing me a consistently disciplined, organized and properly

focused person, not just a trader.

Your trading account performance is what you stay responsible for, not your account dollar value.

You need to view that equity curve as an addition to you. If it starts falling and you start losing all the

progress you made, something is seriously wrong with your trading mindset and you need to fix that

quickly. Keep the natural rise of the equity curve intact, gently rising over time, in an uptrend. That

doesn’t mean there won’t be losses in between wins, but it should look like a pretty solid

uptrend; higher highs and higher lows.

One of the keys to switching focus from account dollar value to equity curve, is realizing that making

a lot of money fast, is just something that is not going to happen. Unless you are starting with a large

account (most of you aren’t) there is no way to safely and consistently make a lot of money quickly

in the market. Just remove this notion from your head quickly and you will be much further along

than most. If you’re not trying to make “fast money”, your equity curve is probably going to be rising

slowly but steadily over time, that is what you want.

“Don’t be a dick for a tick”

This is some of the most important advice you’ll ever get about trading: Don’t be a “dick” for a tick.

Not to be crude, but this is important.

Stop sticking to one trade and trying to squeeze every last point out of it, because we have a word

for that kind of behavior. It’s called greed. Maybe you don’t feel like that but when you are sitting

infront of your computer and not taking profit from nicely put up trade, you are greedy. The market

is offering you a winner and you still want more. The market doesn’t care about what you want, and

is happy to turn around any time and fall against you just as fast as it rose.

The point: if the market is near your required profit target but it looks like it’s stuck at that point, just

take your profit off the table or at least trsil up your stop loss to lock in most of it. Don’t wait for

winner trade to turn into a loser or breakeven, take the money and run!

You really don’t need a guide line

Comparing to 18years ago when i started with my trading career, being trader today has its

advantages, but also a few disadvantages. It can be overwhelming and confusing because internet is

full of trading gurus and advices, and not all of them can be any help to you. So how do you know

what or who to believe?

If I tell you honestly, all you need is price action and an understanding of how to read the footprint

on the chart. I researched everything in my beginning, so you can believe me when i say there is no

magic indicator recipe. Moving averages are helpful in showing support / resistance and value areas,

but beyond those I really don’t use indicators. ATR (average true range) for stop loss placement and I

may look at volume in shares or commodity trades. That’s it.

If you really want to spend hours messing around with technical analysis indicators on your charts,

you can, but I can think of many better ways to spend your time on the market that are far more

productive.

Be OK with being out of the market

Let me tell you something that may be new to you. Being on the market constantly is not in your

best interest, but it is in the best interest for brokers. Being out of the market is considered a

position by pro traders, but not many traders know that and it even isn’t talkedbabout it alot. In your

best interest is to make money, and you can do that with low frequency trading, which means the

broker gets a lot less money from you.

When i was younger, i entered a trade and than watched it all week. As soon as the trade was closed

i felt like i need to enter another one. Like many of you I had problem not being on the market non

stop. But if you want to begin making money constantly you need to force yourself away from the

computer and the market. I will give you an example. You take one good trade early on in the month

and you make 5% on your account from it. Now you have 2 options:

1. You enter one trade after another and keep repeating it till the end of the month (you will

probably lose money not make a profit)

2. Wait patiently for a good trade like you did for the last one. And even if you don’t trade for a

while at least you are still up 5%

The market can be also viewed as a dangerous place. You can potentially profit from it, but you want

to avoid risking your money, unless there is a really good and obvious reason to do so.

Don’t put all your focus on trading

You should not make trading your only way of income. If you do it so, you start feeling attached and

you need for it ti work out instead of being an addition to your income, that you can also be ok

without.

Make yourself retirement funds, slower long-term investments, cash savings, your job income, and

trading, amongst other things. Don’t view trading as your ONLY option for life, liberty and happiness,

or I promise you it will not work out.

I’ve ecen heard of new traders that they quit their day jobs the moment they oppened their live

trading accounts. That is just crazy. You need that income from your day job, especially if you want

to tradebon financial markets. You need that income tovpay your bills but also to keep a sound, calm

mind, which you need if you want to have a chance at winning over the long-term in the markets.

Look at and trade what’s moving

One of the biggest reasons traders fail is trading low-volatility markets. Trades need volatility to have

a chance of moving enough to make you money, you won’t make money without it. Instead, you will

enter random trades when the market is just churning sideways and you will sit there watching your

money churn and eventually take a loss or a tiny win that will just make you angry and cause you to

want to jump back in the market again, losing more money. Look for strong trends and obvious price

action signals that have confluence in the context of a market that is moving. Try to avoid sideways

choppy markets.

Higher time frame charts are better

If I had someone to tell me to ignore all time charts under 1 hour chart at the very beginning, it

would save me alot of time and money. If you want to have a chance at lasting trading success you

really need to avoid all the low-time chart frames.

If you are reading my articles for awhile now, you probably saw articles on why I trade higher time

frame charts. The most important reason why i use higher time frames is because the daily chart is

going to ”smooth out” B.S. of the short time frames and show you the most useful view of any

market.

Conclusion

Like we figured it out already, time machines don’ yet exist. But you can learn from my mistakes and

find away to go around them, in the proces also save alot of money. So in some way you can go

”back in time” . I’ve been in your shoes, thought,the same thoughts and experienced the same

trading frustrations you are experiencing and i have made it throught to the ”other side”. I have a

virtual blueprint of what you should and should not do in regards to trading the market.

This 10 points of wisdom that we discussed above are critical for your trading career, and if you

follow them, they can save you alot of money and time. We are all human and tend to behave the

same way when trading so alot of mistakes that traders do are vera predictable. Every struggle,

every stupid mistake i made and every crazy traring approach i have tried just made me a better

trader, trader i am today. Many of these mistakes are discussed above and also lessons i’ve learned

from them. They form a big part of the chapters and teachings in my professional trading course. If

you want to succeed at trading, it’s important that you put time and effort into learning and

developing the winning mindset that is required to make money in the markets.


ACTION FOREX TRADING COURSE PAGE HERE.

Website: https://elitefxacademy.com/elite-trading-program/

HOW TO BE IN THE 10% OF SUCCESSFUL FOREX TRADERS

It’s no big news that only 10% of people make it in the trading business, but how do they

do it? What are they doing difderently than you? What is their mindset, trading process

and routine like? Today we will go through basic questions and their answers which will

hopefully improve your trading performance.


YOUR TRADE FREQUENCY MUST BE LOWER

How often are you trading? Maybe it’s so often you literally lose count? It’s possible that

you are not in the 10% of successful traders, because you trqde to often.

My big moment of revelation was, when I realized I can improve my trading outcome with

just a little patience, mening that you should wait for low-risk »absolutely obvious«

trading chances.

A lot of new traders don’t realize that less frequent trading will lead you to increasing your

overall profit factor, so with more patience and precision. You gain more control over your

trades, and in the long run that means you can extract more money from the market. One

of the thing the 10% traders do, that you probably don’t, is that when they see a low-risk

event or trade signals they go in big. They are not focused on some silly risk model like the

2% risk model, they are focused on risk reward and dollars risk vs. Dollars gained.

Simple math knowledge can show you that more trades means only more errors and

decreasing your overall profit factor. For an example, check article on LOW-FREQUENCY

VS. HIGH-FREQUENCY TRADING.

Patience and precision won’t only help you eliminate a lot of low probability trades, with it

also comes obvious psychological benefits.


ALL THE OTHER TRADERS ARE YOUR OPPONENTS

If you want to win in trading you need to be smarter and think better than your

opponents. Each trade needs to be planes carefully, which means there is no place foe

being lazy, because someone else isn’t. You need to make sure to do everything you can to

put your trading probabilities in your favor, if you want to be smarter than your opponent,

because believe me the losing 90% of traders are NOT doing everything they can to put the

trading probabilities in their favor.

iT often happens that the contrarion trader (person who makes decisions opposite from

what seems logical or natural) make all the money and wins frequently. So next time

something seems obvious, better take another looj. The market is made ao to deceive new

traders. Always remember, that there is someone opposite from you (your opponent) and

try to see the trades from their side of view. Put yourself in their shoes and rationalize

every possibilitie before committing and if your decision still makes sense trust yourself

and go with it.


IF YOU WANT TO MAKE MONEY, YOU NEED TO LOVE THE MARKET

If you want to be successful trader you need to have 100% passion for financial market

and trading in general. All great traders are practicaly obsessed with the market and love

what they are doing. They live and breathe for trading and if you want to be in the 10% of

successful traders so do you.


INCORRECT STOP LOSS PLACEMENT CAN DESTROY YOU

CORRECT stop loss placement is a very important factor in long-term success as a trader.

Ofcourse stop losses are a necessary risk management tool but they can also be a reason

for trader to get stopped out of a trade for a loss (there stop loss gets hit).

A lot of traders make mistake by placing their stop losses at the wrong levels, and in many

cases they are too wide or too tight.

Stops can’t be placed randomly or based on the position size you want to trade, they must

be reasonable and make sense, be in the context of the price action trade signal and in the

context of the current market dynamics. The main problem is, most traders place stops

arbitrarily and not at logical areas of the chart with any real thought behind them. And this

will destroy even the best traders, with most skills and knowledge.


THE MARKET WILL ALWAYS GO FURTHER THAN YOU THINK

Great trends are often self-fulfilling, which means they tend to continue higher or lower,

because the longer they persist the more traders jump on-board, even the weakest hands.

And when that happens trend comes ceushing to an end.

People like to bet against trends for many different reasons. Most common is arrogance

from wanting to pick the top, or bottom or believing that ”what goes up, must come

down” and reverse. This is a ridiculous thing to believe because one close look at any price

chart will show you that market does not behave that way. But mayority of traders seem

to never learn because they still continue to fight everything logical and obvious in the

market.

IF a market trending is moving in one direction for some time, it’s logical it will continue in

same direction until it ends. But most traders due to their emotions, and over-analyzing

the market try to fight this probability.

Have you ever seen a chart moving in one direction really quickly and when it would be

logical to swing back it starts moving in same direction once again? This is a self-fulfilling

concept, it means that the longer a trend goes, more people jump on-board, at the end

even the amateurs and ”worst” traders because of theit fear of ”missing out” on the

move…Because it has come so far and looks so good, but that is usually the point when it’s

ready to end.

As market trend, they remove stop losses and create liquidation or position covering that


makes the trend go further, it’s a natural phenomenon, that contributes to the self-

fulfilling aspect of trends. In bull markets, when a market makes a new high frequently,


every day a huge hoard of bearish traders are getting stopped out of short positions and

liquidating, which results in yet more buying.

Let’s go back to the contrarian concept…when you think the market is ”to high” or has

gone ”to far” …it’s very likely it will keep going further. So try to resist betting against a

freight train that is headed in one direction. The only way to be sure a trend has ended is

when the new direction trend is underway.


Here are some examples of strong trends that acted like fast-moving ”freight trains” that

mainly moved in same direction, stopping many top and bottom pickers out in their way.

graf


TAKE ON RISK AND BE CONFIDENT OR FAKE IT TILL YOU MAKE IT

Every great trader needs to be able to take risk and handle the emotions that come with it.

Without risking now and then you can’t make money. Trading is definitely not for the

weak and fragile-minded. The top 10% traders who make money on daily basis do not feel

regret when they lose, they are not trying to win it back. They take the punch, shake

themselves off and get up again stronger and keep on fighting.


To be in the top 10% category, you need to turn off your emotions, back yourself and act

with convistion. Even if you have to »fake it till you make it«

You must convince yourself you are profitable and you are about to make a mayor trade.

You need to act like you already live the lifestyle you desire, if you want to reach it. Your

mind is easily fooled if you keep repeating those words every day. And in no time it will

become the way you act naturally.

If you don’t approach your trading room with confidence the markrt will chew you up in

no time.


TRADE WITH SOUND STRATEGIES AND BELIEFS

Market can do two thing, go up or go down. And if you are a trader those things for you

result in a profot or loss. It’ as simple as that.


Amazingly traders over-think this simple fact. But over-thinking comes because the whole

industry is made so, that you think trading is complicated. The best way to handle market

is to have a strategy and belief system that is usefull for any market, on any timeframe at

any point in the future. You need cunduct analysis that are based on price. If you can

anticipate price movement you can profit from it. It really is as simplle as it seems, and for

some of you it’s already all the explanation you need.

Traders career needs to be built on studying and trading price action. Your beliefs in the

market must be logical on one side but still simple on the other.

Like we already know, market cab go only up or down so don’t over analyz things and

make them more difficult than it has to be.

What causes traders to win or lose is actually things in the middle (the stop loss

placement, the entry price, the target price, the emotional roller coaster…) The trading

method is only one part, so don’t go searching for the »holy grail system« because it does

not exist.

Learn to read basic price action and understand how to plot key levels on charts,

underatand the genneral trend of a market, and you are already on your way to the top

10% because you are looking at the real market with realistic eyes not like your

opponents. By combining this trading approach with the important points we have

discussed above, and applying yourself consistently, you stand a chance in the jungle we

call the market. If you want to start thinking and acting like the top 10% of successful forex

traders, checkout my ELITE TRADING PROGRAM for more information.

Website: https://elitefxacademy.com/elite-trading-program/


MASTER ONE FOREX TRADING STRATEGY AT A TIME

If your goal is to become MASTER of your Forex trading strategy you will

need to have sharp focus and not change strategies every week

likevmany amateur traders do. Bruce Lee is known as the best

martialbartist of all time, but he wasn’t born like one. He earned that

title with dedication and focus. He learned to become a MASTER of his

craft and you need to do the same. If you want to be the best you

need to adopt the Bruce Lee mentality

If you want to be the best you first need to forget everything you learned

so far about trading and start from the beggining. The main mistake

traders make, is that when they try to adopt a new approach, they still

use the old knowledge. If you really want to adopt a fresh new

strategy, you need to forget all previous methods and by it prevent

their influence on your current perspective on the market.


• TRAIN YOUR BRAIN 

You need to learn to maater one trading setup at a time. That will help

you to train your brain to become more disciplined and objective, and

that are characteristics you deffinitely need to excel at Forex trading.

Your chances of making money will increase if you learn to master and

to »own« one forex trading at a time, but the proces to acomplish it

can tske you months, maybe even years. When you completely master

one trading set up you get a better feeling for which trades to take and

which ones to pass on. Many traders believe there is some »holy-grail«

trading sistem, that would allow them to avoid having to develop their

discretionary trading skills, but professional trading inherently involves

a fine-tuned sense of being able to see the difference between A,B and

C grade trade setup.

The discipline and objectivity that you will learn will expend to other

areas of trading as well (managing your risk, how to remain calm and

collected…). When your thoughts are scattered on multiple trading


strategies and (or) you have little confidence , when you begin to

doubt in the strategy that you are currently using, you won’t make

very wise trading decisions. But when you learn to master and »own«

one trading strategy at a time, both of these problems will solve

themselves, because you will focus on one strategy at a time and you

will automaticaly gain confidence in each setup as you master them

one at a time. The reason most traders lose money is because they

OVER-trade, OVER-leverage and analyze TOO MUCH data, but with

mastering one setup at a time you will reduce variables in your

trading.


• LEARN TO THINK LIKE YOUR MENTOR

Mentor or trading strategy are paramount to your success as a trader,

and if you are looking for a new one, it’s obvious that what you were

doing before was not working for you. You need to wash your mind of

everything you learned so far and adopt the same trading

philosophies that your new mentor or trading strategy teaches. I used

the approach of mastering one price action setup at a time myself and

it worked. When you master one price action setup you can move to

another, until eventually your Forex trading arsenal is fully loaded.


• SPECIALIZATION IS THE UNIVERSAL KEY TO MAKING MONEY

the thing that all people that make a lot of money have in common is

SPECIALIZATION.

They focus on one thong that they are passionate about, and do it over

and over until they achieve the result they want. If we simplify it, you

won’t make money at anything in life if you master nothing. All

successful people mastered something in their life, sure they have ups

and downs but they don’t let the downs to beat them. They take

negative energy and they transform it into motivation and they keep

on fighting because they believe in what they were doing. Had they

got distracted and involved with other side-projects or interests they

would never have achieved what they did. It’s the same with trading.

You need to take one price action setup at a time and become a

»specialist« in it. You need to become the person people look up to

for advice on the setup that you »own«. So master first one setup and

then move on to the next, because doing things half-ass will get you

nowhere.


• HOW TO MASTER THE SETUP

Mastering one price action setup at a time means that when you

are interacting with the market your setup is the only one you think

about or look for. You drill your setup so long that you know every

angle and condition it can or should be traded in. Keep track of your

trqdes made with the same setup and then analyze it in which

conditions it works best. Research your setup, find informations

and use them to your benefit. When you think you learned

everything qbout your setup try it on your demo account and if you

are becoming consistently profitable then think about adding a new

setup to your trading toolbox.


• ONE SETUP DOES NOT MEAN ONE VARIABLE

To master one setup means that you are able to use that setip in a

particular market context. For example, you might learn to master

the pin bar strategy in a trending market and only enter or exit at

confluent levels within the trend, this is an example of how a

“setup” can mean the actual price action setup itself and the

market conditions that it is traded in. So, in order to fully master

one price action setup you must learn to master this setup in one

particular market condition, perhaps you want to master the fakeout

strategy in range-bound markets, or the inside bar in down-

trending markets; the totality of the actual price pattern itself

combined with the particular market condition you trade it in is

what you must master in order to consider yourself a “master” of

one Forex trading strategy. To learn more about mastering the price

action setups that I teach, check out my price action trading course.

Website: https://elitefxacademy.com/elite-trading-program/

WHY DIDN’T I TAKE THAT TRADE

Most traders don’t have problem reading the charts and finding good

trades when they finish our courses and tutorials. Howrver problem is not

findong good trades but being able to pull the triger on them. When i talk

to traders that have just beggin theirntrading career and are in many cases

frustrated, I find out they don’t have problem with finding good trades but

with executing it.

So let’s take a look what is the cause for capable traders to have such hard

time deciding to pull the trigger on a perfectly good trade.


THE MOST PROBABLE CAUSE FOR NOT TAKING THAT TRADE

The biggest reason isvthat tradersvdon’t have enough confidence in their

abilities, especially beginners think trading isvmuch hardervthan it really is.

So when they see an obvious trade setup they think it’s to easy to be true,

and they start questioning themselves.

Another reason is that for many traders change from demo to real trading,

can turn rhings around. When you trade with real money, you realize you

can easily lose it with one wrong trade. And that can really ruin your

trading mindset. When you were trading on your demo account you took

obvious trade with ease and confodence, and to aachieve that kond of

demo-trading mentality you just need to manage your risk to a dollar

mount you’re comfortable with potentially losing per trade.

The next reason is also known as the issue of »Murphy’s Law« which

basicaly means that anything that can go wrong will go wrong. Let’s take a

look at an example. There were some great trades you didn’t take and then

a similar trade shows up on the market on which you take a risk and you

trade it. Trade goes wrong, you lose money and your confidence falls

quickly. So you don’t take the next chance and it turns out to be a winner.

This can become a never ending cycle and you become frustrated and

eventually you start making bad trades, because you get so mad about all

the good trades you missed, and that kind of behavior leads to huge loss of

money. It could be really funny situation, if money wasn’t involved.

There is also something I call HINDSIGHT ADDICTION which affects one’s

confidence in executing the tradr. Many traders don’t even know that they

are addicted to their hindsight analysis. They are afraid to make a tradr

without the knowledge what happens next on the chart. And that’s why I

am not a fan of back-testing, but i prefer forward-testing or demo-trading

in real time, to find out the extent of your abilities before going live.


HOW TO STOP BEING AFRAID OF GOOD TRADES?…

Here is some help to train yourself out of these habits and to overcome

your mental demons.

First of all remember that to make money you musz take as many

examples of your trading edge as you can, and over time you can see if that

edge is profitable or not. This idea came from late-great Mark Douglas that

I explain more deeply in a recent article I wrote based on his teachings.

The idea is you should take trades you’re confident about and also the ones

you are only about 50% confident about. In the end, how confident you are

in a particular trade signal can be changed quickly, depending on many

variable elements, some of which even have nothing to do with the charts

(how your day went, the state of your relationship…)

You still should filter your trades, but not over-filter them and definitely

don’t convince yourself that there is no tradd worth trading. You need to

learn how to filter good trades from bad.

The main goal for you is to become confident about your trading edge and

to back yourself. Think like a sniper and don’t be afraid to pull the trigger.


SOME STEPS YOU CAN TAKE

1. If you are struggling to pull the trigger, try decreasing your lot size so

that at least you are in these positions and feeling the influence of

real money on the line. With these step even if you call the trade but

don’t trade it you won’t hate yourself.


2. Limit your screen time of looking at your charts to 15-30minutes a

day, because the less you look, the less you have time to think about

whether its right or wrong. Also focusing on the daily charts and end

of day trading, will help with your psychology of filtering.


3. You must read and feel the whole chart from left to right. Think

about it like reading a book. You need to read every page to know

what’s currently happening, and to make a plan for what could

happen next. The market is a book, being written as we speak, you

need to know what picture is being painted by the market.

In the GBPJPY daily chart example below, there wasn’t anything to

do through this giant period of data but once we got that pin we

could read what happened; consolidation, false-break, confirmation

(pin bar signal). We won’t go into detail here, but we saw a false-

break signal on the GBPJPY, those who were short got caught short,

and This pin was a signal and the short covering that followed, fueled

the run higher.

The signal itself is confirmation, but to get more confidence we need

to read what happened from right to left…The signal is the FLASHING

LIGHT, then go read what happened on the chart…

Price action analysis is not just about single bar signals, it’s

about reading the charts like a book, reading the »story« the

price action is telling you. I devoted an entire section of my

professional trading course to this concept, and for many

traders this was or will be the »aha« moment in their trading

career. A skill all traders should aspire to is glancing at a price

chart, being able to read it with ease and confidently anticipate

the markets.

Website: https://elitefxacademy.com/elite-trading-program/

HOW TO ENJOY LIFE AND TRADE FROM ANYWHERE

My experience show, that the best and fastest way to make money

trading is to take a low-frequency »hands-off« approach. If you are

reading my articles amd learning your lessons from them you already

know that, but today I want to expand on the concept of »trading

from anywhere« and why the best way to make trading is if you »do it

on the side« or »in addition to« other revenue streams, rather than

put all of your hopes and dreams into trading.

In my opinion every new trader should practice a sniper trading

approach which practicaly means that trades are taken in small

quantities but with high belief.

Huge advantage of this approach is that you can still do other things

you want, but still stay in touch with the markets and placing trades.

The goal is to make trading an adition to your lifestyle, not its primary

focus. You can still find time to travel, you can have a full time job,

practically anything you want. Doing this is great for your stress levels

and overall state of well-being, but also the best thing you can do for

your trading account.

It’s immportant to have a healthy balance in your life. Everywhere you

need to have soma self-control, and it’s no different in trading. Most

traders don’t practice self-control and consequently they lose money.

They stay up all night watching the charts, they get hooked to short

time frame charts and are eventually sucked up into day-trading trap

that catches so many well-intentioned beginners.

I hope that after today’s lesson you will adopt a »coffee shop trading

attitude« , to become more of a »global nomad trader«/ part-time

trader, with life also outside of trading. It’s a fact that most wealthy

people don’t put all theit money and hope in one place. It may sound

silly that I would be telling you to not depend only on trading. But the

fact is I want you to succeed, and the best way to do it for most

people is to follow a similar path to the one I am going to lay out

below.


»NOMAD TRADING«…TO GOOD TO BE TRUE OR RHE ANSWER YOU’RE
LOOKING FOR?

Trading from anywhere, no matter what you are doing, is not to good

to be true, but is litwrally about the best thing you can do. Let’s

explain…

• FOCUS ON THE RIGHT CHART TIME FRAME

If you want to take a »nomad« approach to your trading, you

must focus on higher time frame charts (weekly, daily and 4-

hour time frames, most other time frames are simply a waste of

your rime).

When you are analyzing and trading on these higher time

frames, you check charts each day or every other day at the end

of the day, and you make decisions based on the daily chart

close at the end of the trading day. I call this end of day trading.

With it you can skip all the intraday noise and meaningles price

movement, and you use that time to focus on your other

activities.

• LOW FREQUENCY

Naturally, focusing pn higher-time frame charts means less

trading. That allows you to take trading with more easeband to

actually enjoy your life because you are not tied to your

computer all day long.

But the most immportant part of this approach is that it actually

helps with your trading performance and chances of long-term

consistent succeas. In the end the whole point of trading is to

make money overall not end up losing it.

• LET THE MARKET DO THEB«HEAVY LIFTING«

Day tradrrs spend hours in front of their computers. They are

on a never-ending mouse-wheel of information overload and try

to make trading decisions. This kind of approach is unnecessary

and in reallity the opposite od productive. Reason why people

ens up doing this, is because they became trading addicts. Theie

addiction are moving prices, flashing colors and the thrill of

entering a new trade. Your goal os to control yourself and avoid

the point where the market starts controling you.

You have to let the market do the work, which means you have

to set and forget yoir trades. Once the trades are made,nothing

will change if you watch the market constantly.


TRADE TO LIVE, DON’T LIVE TO TRADE

Many people blow their money on material things, but every time

thay buy something new the allure of it quickly wears off. So having

less material things is actually better, not only for your bank account

and financial situation, but also for your mind and stress levels.

This minimal approach also works in trading. It means less trading,

less worrying, less chances to over-trade and over-leverage your

account. It’s no coincidence that many successful investors and

traders are not day-traders.

• LESS IS MORE

When you stop trading all the time your trading performance is

going to improve. Why is that? It’s simple. Our brain are not

made to be good at trading because we are not used to be good

at self-control and self-regulation impulses. When you are

presented with unlimited chances to make endless amounts of

money, you found the recipe for destruction of your self-

control. This is why less is more.

The less your brain is involved in the markets and your trades,

the better your chances for success. Most effective way to practice consistent self-control is to simply make the need to

have to perform it as small as possible.


»NOMAD« PRICE ACTION TRADING STRATEGY CORE POINTS

I hope by now you understand why trading like a nomad is beneficial to

your trading performance and also your lifestyle. Now let’s take a look

at the main pieces of a »nomad« trading strategy so you will knkw

how it’s done.

• End of day trading

The basic idea is that you are only making trading decisions after

the New York close each day so that you are using daily charts

the most and making sure you only consider bars that have

closed out. This removes the noise and confusion of the lower

chart time frames as well.

• Set and forget

Means that you find a trade, set up the parameters and you

literally walk away from the computer until the next day after

the New York close. Don’t try to »figure out« what will happen

and don’t check the charts every few minutes

• Simple trading signals

The price action signals that i trade and teach my students

aren’t hard to learn. What you don’t need is trade with

indicators. That is a confusing, overly-complicated and

unnecessary waste of time. A nomad trader who enjoys life

instead of staring at charts all day, needs a simple trading

approach like this. The complicated part of trading is money

management and psychology, so don’t make the actual chart-

analysis and trading part difficult as well.


• Money management

Probably most critical to taking this »nomadic« and relaxed

approach to trading is money management. If you put your risk

so high that it makes you preoccupied with your trades, you

won’t be able to set and forget your trades, because you will

worry to much about losing money. So you must learn to make

a risk that you can mentally handle.


CONCLUSION

This approach will definitely take some time to get used to trading less,

not checking constantly your trades, not spending so much time in

front of your computer but your trading performance will become

better if you stick to this way. You must distract yourself from the

markets, use a simple strategy and make your risk reasonably. Find

yourself a hobby, full time job, travel, make something with your life.

Stay occupied, because if you will just sit around you will eventually

open your computer out of boredom and you will start over-trading.

But you need to know how to analyze price action the right way, and how

to put the whole strategy together to be able to trade feom anywhere

and adopt this new way of trading. You can look how to combine price

action strategies with a low-frequency nomad-like approach in my

professional trading course and members area.

Website: https://elitefxacademy.com/elite-trading-program/


HOW TO MAKE A LIVING FROM FULL-TIME FOREX TRADING

Every trader and active investor dreams of making a living with

trading. But don’t think that the path to getting rich with forex trading

is fast and easy.

If you want to trade for a living from home you first need to

understand that that kind of trading takes discipline, effort and

planning. There are no shortcuts, you need to follow the steps to

reach the top like every other full-time Forex trader and if you do so

you have a very good chance to become one yourself.

If you are ready to open your mind and forget all things you learned

so far about full-time Forex trading, then read on to learn some of the

basic and most important features of making money as a full-time

Forex trader.


HOW TO BECOME A FULL-TIME FOREX TRADER

There is no »magic-formula« to become a full-time trader, but many

sites will try to convince you othervise. However there are somw

typical featurea that define the majority of full-time Forex traders.


BE REALISTIC: 

that is perhaps the most common quality of full-

time traders. If you want to be one of them, don’t expect to

become a billionairw overnight, or to win every trade.

You muat stay realiatic about what is possible given the size of

your trading accout, or you will end up risking to much with

trades or start over-trading. You must be carefull not to become

greedy or to anxious to make money. If you have a small trading

account, your trades will need to stay small as well. This means

it will take you more time to become a full-time trader, but over-

trading or over-leveraging your account won’t speed things up,

but only slow down your progress.So first you need to get your expectations in-line with reality, so

make sure to manage your risk properly on every trade and

don’t get upset when you hit a losing trade.


THE DAILY ROUTINE OF A FULL-TIME FOREX TRADER

DAILY ROUTINE: every full-time trader has it and has performed

it for so long that it becomes a habit. You can get to that point

only with an explicit plan that you follow.

• HAVE A TRADING PLAN AND TRADING JOURNAL

You need to have both if you want to develop proper trading

habits and keep your emotional trading demons under control,

and you need to actually use them, not just have them. They are

an important factor in your endurance on the markets and your

success or failure as a trader.

• DAILY/WEEKLY CHART ANALYSIS

You need to create your own daily chart commentary and keep

notes in your trading diary. You do that every week and you will

have a weekly guide to follow each day as you do your chart

analysis. Also make yourself a daily commentary before you

make any trade (go through your favorite markets, mark the key

levels, conditions and any price action setup you see ).

You should tradd during the BEST FOREX TRADING HOURS for

your location, which is during the London and New York trading

sessions. Full-time traddrs know their moves before they enter

the trade, and make as few decisions as possible during a live

trade moment.

HABITS

With time you will deevelope positive trading habits as a result

of following a positive daily trading routine everyday, while

struggling traders have all wrong/negative trading habits.



A FULL-TIME FOREX TRADER’S OFFICE

• SETTING UP YOUR TRADING OFFICE

It’s not necesary to have it, but every full-time home-based

Forex trader has it, and it’s most likely very organized. You don’t

get to the point of FULL TIME FOREX TRADING from being

unorganized and out-of control impulsive trader. Being

organized is one of the things that come with development of

peoper trading habits.


FULL-TIME FOREX TRADERS ARE MASTERS OF THEIR TRADING EDGE

• BELIEVE IN YOUR TRADING METHOD

It’s important to believe in your method of you want to gain

confidence. Because if you don’t understand and believe in your

strategy you won’t succed in the markets. Every full-time Forex

trader believes in his trading method and doesn’t doubt in his

decisions or any trade he takes. If you want to learn, how to

trade without doubt and fesr, checkout this article: CAN’T PULL

THE TRIGGER ON YOUR TRADES


MASTER YOUR TRADING STRATEGY

Before you jump into a real-time trading account you need to

fully master your trading strategy. Many traders make a crucial

mistake of not mastering their trading strategy and they end up

guessing when to enter the market. FulL-time Forex traders

trade with confidence- they don’t get scared and end up sitting

there looking how the market takes off without their input. They

also don’t regret their trades, because they mastered their

trading strategy and they aceppted that not every trade will

win.



MONEY MANAGEMENT IS THE KEY

• MANAGING CAPITAL

What struggling traders don’t do and full-time Forex traders do

is they win big and lose small. Sounds simple right? But to

achieve it you must follow the other points discussed in this

article.

Proper RISK MANAGEMENT is very likely the defining factor of

a successful full-time trader, and that’s what beginning and

struggling traders fail to understand. Never risk more than you

are emotionally comfortable with losing.


FULL-TIME FOREX TRADING PSYCHOLOGY

• MANAGE YOURSELF PROPERLY

You need to control yourself and your emotions, otherwise you

will end up trading when your edge is not present or risking to

much on one trade. You always need to have one question in

your mind: » Am I trading logically or emotionally?« The key to

success is to have the PROPER FOREX TRADING MINDSET and to

reach that you need to be realistic and have organized trading

routine, that will help you to develop trading habits, which will

lead you to proper trading mindset. If you do these things it will

only be a matter of time before you become a full-time Forex

trader.


WHAT YOU WILL NOT FIND ON THIS PAGE

You won’t find mathematical formulas, complex technical indicators,

heavy charts or elaborate software demands. You will find a simple,

uncomplicated approach to home-based trading that can be reached

by anyone, anywhere. 

Website: https://elitefxacademy.com/elite-trading-program/

FOREX FUNDAMENTAL ANALYSIS:WHAT YOU NEED TO KNOW

Forex fundamentals and news are esentially economic factors that

can be understood as catalysts for price movement on the markets.

The school of thought known as ” Forex fundamental analysis”

basicaly says that you can predict future movement on the market

based on a market’s fundamentals or news data. I’m sure you think

now that you can simply study the economic fundamentals and news

of a matket and make predictions about it’s future movement based

on this data, but you will see that things are not quite that simple.

Ever heard the old saying: ”Buy the rumor, sell the fact”? This saying

has been on Wall Street for hundreds of years, and there is a reason

why. It’s because when market data is released, it typically has

already been factored into the market abd it’s influencebwill be

minimal once ut finally gets out. Traders and investors work based

on anticipation of what is going to happen in the future, and the

base for predictions are fundamental analysis and news data. Here is

where the ”buy the rumor” part comes in at. The tricky part is that

we can’t know exactly how much of any piece of impending

economic news has already had an effect on the market vs. What is

going to happen when that data is out. That’s why you should not

pay to much attentionbto upcoming Forex news data and

funfamental analysis, because everything that has en affect on the

market can be seen much more clearly and effectively from

analyzing tge price action on s raw price chart.


PRICE ACTION REFLECTS ALL FACTORS THAT AFFECT A MARKET

Perhaps the most importantthing you should learn from this lesson is

that the raw PRICE ACTION of a market can show you directly what

factors caused that market to move.one daily bar on a daily price

chart is the end result of economic variables that effected the

market during day. There are thousands of factors that can make the

markets to move on any given day, but trying to analyse these

fundamental and news factors doesn’t necessarily mean they are

useful or even relevant for short or mid-term Forex traders, even

though they are the catalysts for price movement in a market.

In many cases, when some big economic news break out, like an

FOMC policy meeting or Non-Farm Payrolls, traders and investors

make asumtions about the outcome for weeks or even months

before the actual event, so that when it happens it’s already factored

into the market and is practicaly a non-event. Usually the market

becomes more unpredictable during there big news events, but if

you keep your focus on the HIGHER TIME FRAME CHARTS like I do,

this unpredictability won’t have effect on you or your success. The

core of how I ”trade the news” is if there is a strong daily chart trend

in place, I am more concerned with that, and I will use any opposite

trend retraces that occur as a result of the news to look for PRICE

ACTION SIGNALS in-line with the daily chart trend.

In the chart below, we can see a GBPUSD daily chart and that on

December 18th the market surged higher shortly after the FOMC

meeting announcement. Now, the important point to consider here

is that traders and investors had been discussing this

announcements “potential” for weeks leading up to it, and that the

GBPUSD was ALREADY trending higher for a long time before this.

The announcement itself was actually somewhat positive for the U.S.

dollar as the Fed announced they were scaling-back their bond-

buying program, but what happened? The trend continued as usual.

The point is that you can’t stop a freight train…there are very strong

reasons why market’s trend, and one single news event is very

unlikely to change the course of the trend. Thus, this is why I ignore

the news except maybe to note when the volatile reports are coming

out so that I can look for a nice entry in-line with the daily chart

trend…


HOW IMPORTANT ARE ECONOMIC NEWS?

If you try to analyze all the economic news factores that are affecting

a market everyday, you will just end up stressing, second-guessing

you ”gut” feeling and become confused and frustrated, where there

is no need for that feelings to exist. A lot of traders think that all the

economic news are important, because if so many experts talk about

it they must be important, right? Well not really. The financial news

industry is huge and employes thousands of people , but it’s your job

to see if the economic data is useful to you as a trader.

As we already discussed, the price action in a market gives you all

the important information you need. You can stop reading economic

reports and listening to news with ”expert views” on the market,

because all that matters is absorbed into a market and reflected

through its price action. If you want to know how to interpret and

use the raw price action in the market, checkout my PRICE ACTION

TRADING COURSE for more informations.

Website: https://elitefxacademy.com/elite-trading-program/

WHAT ARE YOUR CHANCES OF SUCCESS AS FOREX TRADER

Most traders have heard or read about a very common myth which says

that 95% of people that try their luck in the market fail to succed. This

myth is based on general statement that is actually incorrect, without any

solid evidence and with flawed logic. Unfortunately alot of potential

traders believe the myth and are overcome by fear from the very start of

their trading career.


SO WHAT ARE YOUR CHANCES OF SUCCEEDING AS A FOREX TRADER?

This is a very important question that deserves a discussion based on

logic and not the vague general statements that we often find on the

internet. Let’s start with some supporting evidence and logical thought,

to give you some confidence and remove some of tge ”i’m just another

doomed trader” thoughts that you have had or are you having them right

this moment.


WHAT PERCENTAGE OF TRADERS MAKE MONEY BUT ARE NOT
»PROFESSIONAL«?

There are always people making money on the market, you could say that

in theory for every loser there is a winner. But consistently making money

is something completely different. In the long-term there are going to be

more traders that have lost their money than the ones that have made it.

95% of traders are not professional or full-time traders, but this does not

mean that 95% of traders don’t make money in the long-term. Many

beginning traders over-trade or over-leverage their accounts because

they aim to be ”professional” right from the start. Your goal should be to

make profit at the end of every month, if you acomplish that you are not

yet a professional but you are a profitable trader. If youvaim to make a

profit each month your chqnces of success will jump real high. With time

you gain more knowledge and skills and you can change your goal from

profiting every month to profiting every week and eventually to pro-

trading. You will see your trading skills are improving and your account is

growing. But first you need to understand the diference

between”professional”/full-time trading and being a profitable/part-time

trader.

Traders that want to make money and become good traders, have better

chances at succeding in the markets in the long-term. There are reasons

why this is so, let’s explain them in more details.

First reason why you have better chances to succed if you lower your

expectations of ”professional” trading right from the start, is because it

puts you at a much more advantageous emotional point than expecting

to become a pro the first month you starr trading. When your

expectations are reasonable, you won’t have desire to over-trade or to

trade large position sizes. When your goal is to be profitable at the end of

the month and not to make a living from trading like most beginning

traders feel they need to do, your temptation to over-trade and over-

leverage your account is really small.

If you don’t feel pressure to depend on your trading exclusively for

income, you get rid of most if not all of the emotional bond to your trades

and to the money you have at risk. Releasing your emotional bonds with

the market is the easiest and quickest way to success, you just need to

have realistic expectations, so don’t expect to become a pro-trader right

away, FOREX TRADING SUCCESS COMES FROM WITHIN. As a part-time

trader you can make profit, and the statistic of people that make money

every month is 20-30% not 5-10% we so often hear about.


SO WHAT ARE YOUR CHANCES TO ACTUALLY MAKING MONEY AS A
FOREX TRADER?


Let’s take a look at some actual facts and figures, so you can see your

actual chances of making money as a Forex trader with an effective

FOREX TRADING STRATEGY vs. a trader without any strategy at all.

We will take a ”control group” that will present the risk reward ratios,

and the ”variable group” that will present the trading strategy or entry

method.

Let’s first take a look at what it takes to be a break-even trader in terms

of risk reward.

As you can see in the chart below, with a risk reward of 1:1 you have to win

50% of your trades to breakeven. As your risk reward moves up you can win

less of your trades and still breakeven; a risk reward of 1:2 requires only

winning about 33% of your trades to get to breakeven, and a risk reward of 1:3

requires you only to win about 25% of your trades to breakeven, take a look at

the chart:

If you want to be a trader who simply makes 1 times risk on each trade, you

have to win 66% of time with a risk reward of 1:1, 50% of the time with a 1:2

risk reward, and with a 1:3 risk reward your winning percentage can be as low

as 33% to make a 1R profit.

The power of RISK REWARD IN FOREX TRADING is a common discussion in

my aticles and for good reason. Rvery trader must understand and seè

that by letting your wins out-pace your loses, your way to successful

trading will become easier to achieve.

But over the long-term, risk reward is not the only thing that makes a

profitable trader. You need a high-probability trading edge like PRICE

ACTION. And that will increase your chances for making money

constantly.

The chart below on the left displays how many winners are required to

breakeven with no particular trading edge, basically, over a long-series of

trades, you will breakeven by winning 50% of the time on a 1:1 risk reward

ratio, 33% of the time on a 1:2 risk reward ratio, and 25% of the time on a 1:3

risk ratio. With only random entry and risk reward in Forex trading, you are

likely to just perform around breakeven over the long-run.

Now compare this random entry risk reward model with the chart on the

right; it shows your approximate chances of winning using a high-probability

trading edge like price action trading strategies in conjunction with the power

of risk reward…

Your chances of winning will be lower when the tisk reward ratio raises,

it happens so because your target moves further away, but your stop loss

stays in the same place. In the mean time as the percentage of your stop

getting hit is increasing so will your target, so you need to stack the odds

in your favor as much as possible by using a high-probability entry

method like price action.

From images above you can see that an experienced trader with a solid

FOREX TRADING PLAN who knows exactly their way around the market,

has a much better chance to make money , than a non-experienced

trader who is essentially entering ranfomly. The reason why so many

traders lose money is because they

1. Don’t understand risk reward and FOREX MONEY MANAGEMENT

2. They have not fully mastered a highly-effective trading strategy like

price action

Your firsst priority as a trader should be to master these two things.

MAKING MONEY IN FOREX ISN’T UNATTAINABLE

Chances to become a profitable trader are very good if xou do things

likr discused in the article. But be careful I didn’t say ”professionale

trader”. The reason I didn’t say it, is because as we stated above, your

goal at first should be to be a profitable trader at the end of esch

month. That’s a goal that is easier to achieve at the beginning. Doing

things this way will give you a realistic goal and your chances for

success will increase dramaticaly. You will avoid common mistakes

that many traders make because they try to rush into being a pro right

away. Start with a plan to trade part-time and do it successfully. You’re

attitude should be to TRADE LESS AND PROFIT MORE/SET AND

FORGET.

In the end, I just want to say that i get responds from people thst read

my articles all the time. From people that are truly making it in

theirbtrading, not because they are professional full-time traders but

because they learned the importance of effective money management

and price action trading, combined with one another. Having a solid

education in an effective trading strategy and truly ”mastering” it

increases your chances of making money consistently in the market.

As a Forex trading coach it’s my goal to push traders onto the correct

path that gives them better chance at success in the Forex market. So

it’s a great satisfaction to know i helped so many traders through my

courses and lessons and that because of it they have a better chance

at making money consistently than someone that has no forma FOREX

TRADING EDUCATION or no effective trading method

Website: https://elitefxacademy.com/elite-trading-program/

YOU CAN BECOME A BETTER TRADER BY TRADING FOREX PART-TIME

It doesn’t really matter if you are employed, retired, a business

owner, my advice is the same for all of you-your first goal as a trader

should be to become a ”part time” trader and student. Don’t be

naive and quit your job, replace your income with trading and think

you can become a full time trader from the start. Trading is not a

”get rich quickly” way, in fact, nothing in life is that easy. Sure you

can make alot of money trading, but to get there you need to invest

alot of time and effort. My reputation is build on honesty and

integrity, and all of my insights and truths about trwding. If you are a

novice or strugling trader, or maybe you are just looking for advice,

and you want to become a pro trader eventually, than just keep on

reading.


YOU NEED TO KEEP YOUR TRADING PART-TIME AT THE BEGINNING
IN YOUR TRADING CAREER

Most people start with Forex trading because they are unhappy

with their job or the amount of money they make, sometimes even

both. They think they can just switch and make Forex trading their

primal income, and that way of thinking leads a person to losing

money and make the patk to success that more complicated and

difficult. If you have an overwhelming desire to become a full-time

trader, you will start to feel like you need to trade or you won’t be

happy. You need to convince yourself that you don’t need to trade

and when you achieve that kind of mindset your trading will

improve and it will get easier to profit repeatedly on the market.

When you put your mind under pressure that you need to make

money in order to pay the bills, you are leading yourself towards

failure. That’s one of the reasons why you should keep your trading

a part time thing in the beginning.

• Part-time trading

You need to understand that it’s important not to put all your

time and energy into trading at the beginning. No matter the

situation with your current job,, you need to keep it and trade in

your free time as an addition. If you quit your job or lose it you

won’t stand a chance to become a full-time trader.

Becoming a full-time trader is not something you can rush. First

you need to learn the ropes, master the art and skill of

successfully reading a price chart.

Keeping your job and maintaining a sure source of income is

crucial to keep the proper trading mindset, otherwise you will

be stuck at a point where your trading must workbout, and you

don’t want that. Trading part-time will keep you out of the

market, it may sound weird but over-trading is perhaps the

biggest mistake you can do as a Forex trader. By taking a part-

time approach to the market, you will stay occupied with other

activities through the day and you will check the marketvat

certain intervals every day, you won’t be glued to your

computer screen.

• Forget about the ”get rich quick” mentality

Many if not most traders at least think they will get rich quickly

with trading. It’s nothing wrong if you believe you can make

money and succed, the problem is when it becomes an all

consuming thought, and you think it will or should happen really

fast, you are setting yourself up for failure. Traders that think

they wil make it quick end up over-analyzing the market, they

think they will succed just because they are putting in a full-time

effort.The reality of this mentality is that you eventualy want to

control the market. When you stay up all night long, watching

your charts you subconsciously try to control the uncontrollable

and the more you do it, more you believe that the increasing

time you spend watching the market is going to pay-off

eventually. So basically, by believing in this mentality, you will just end up

spending huge amounts of time over-analyzing market factors,

that will cause indecision and EMOTIONAL TRADING and

eventualy it will cause you to lose money.

That Forex trading is a quick and easy way for income is just a

myth. To make quick and easy money all the time is imposible,

unless you are doing something ilegal. You need to have realistic

expectations when entering the market and you can do so with

a part-time approach. With it you will keep your mind clear and

your mindset will be almost stress-free. On the market the only

thing you can control is yourself. The more you arebable to

control your actions, the bigger chances you have for success.

You can easily convince yourself that you can control yourself

even as you over-trade and over-leverage your account, but

take a step back and think objectively about every action you

took in the market. It will make you see if your actions are

logical or emotional.

In some way it’s ironic that taking a part-time approach, or a

”LESS IS MORE” approach will make you more money faster,

because chances to trade emotionaly are small, when you

realize that you can make money even with trading only few

times a week or less. So if you really want to make consistent

money , you need to realize it won’t happen fast, unless you are

risking too much and get lucky a few times in a row, or you have

a large pile of money to begin trading with.

• To stay accountable you need to chose part-time trading

The biggesst reason why making money consistently in the

Forex market is difficult for most traders is because there is no

one to be accountable to. Your current boss, will fire you if you

lose money for the company, or do something he/she doesn’t

approve of. But Forex market won’t fire you no matter the

amount of money you lose. It doesn’t even know you exist, you

are just another number in the sea of traders. You need to

figure out a way to make yourself accountable if you want to

success at Forex trading.

Being a part-time trader makes you study and TRADE HIGHER

TIME FRAMES. If you have a full-time job, you will have to trade

off the daily chart. This is actually a good thing, no matterbthat

many traders think there is no advantage to trade the lower

time frames. The market provides daily setups each week for

traders to take advantage of, so there is no need to trade any

time frame lower thanbthe daily. Trading part-time forces you

to master higher time frames early on in your career when your

talent and skills improve you can start implementing lower time

frames to make your entries and exits better. Many traders

make a mistake and start trading by analyzing the lower time

frames. But after losing tons of money and time, they realize

that trading less frequently on the higher time frames is the

right way to making consistent money in the Forex market.

If you want to learn more about IMPROVING YOUR FOREX

TRADING SUCCESS and how employing a set of price action

strategies can be helpful with achieving this, visit my PRICE


ACTION FOREX TRADING COURSE PAGE HERE.

Website: https://elitefxacademy.com/elite-trading-program/