Why Its Virtually Impossible To Make Money As A Retail Trader.

Make Money As A Retail TraderI say virtually impossible. It is possible to make money as a retail trader but the odds are firmly stacked against you. The statistics show that only 5% of retail traders make money consistently, but in reality the chances of success are probably less than 3%.

So taking into account that only 3% of traders that start out on this journey, achieve consistent profitability, why do so many people still want to get involved in Forex trading.

Well i suppose its for the same reason that people play the lottery. I don’t play the lottery by the way. I have no desire to throw away my money on a 50 million to 1 shot.

But taking into account the odds of lottery success, Forex trading success is a much better option.

Financial freedom, working hours that suit, spending more time with friends and family, working from home, being your own boss. These are all reasons why people get involved in Forex trading.

All of these reasons are valid, and attainable as a Forex trader, but they come at a price. Nothing in life is free, but you get out what you put in.

Determination, desire, discipline, dedication, are qualities that you need to be successful, but without education the other qualities will not be enough for Forex trading success.

Why is it so hard to succeed as a retail trader?

Here are some reasons why retail traders fail to make it in this business.

Not enough capital.

This is something that causes a lot of traders to fail. Most retail traders are sold a dream, a dream that they can turn a 100 bucks into a million bucks, when in fact that really is not how trading works at all.

not enough capitalIf you only have a 100 bucks to fund your account, just forget live trading, because you will only lose your 100 bucks. If you go down the same route as the majority of traders, then you will probably blow a min of 3 trading accounts before you get to any sort of consistent profitability. That’s if you are lucky.

Top tip: Divide your start up capital into 4 lots, and open your first account with a quarter of your start up capital. You then have enough money to fund 3 blown accounts, and still have something left to trade with.

Poor trading education.

If you have enough capital to fund 4 trading accounts then getting the correct education is a must to give you any real chance of success. Everyone thinks you can teach yourself how to trade by reading books, or watching trading videos on YouTube. Although you may be able to learn the basics this way, you can only be successful in the Forex business if you are educated by a professional trader.
trading education

This job is a lot harder than it looks, and paying a professional to teach you how to trade correctly is the only way in my opinion that you can move forward and get consistently profitable in your trading.

You want to make money in this business, and you want to be able to do it in as little time as possible. By trying to teach yourself to trade you are doing the complete opposite. You will lose money, and you will lose time. The only thing you will gain is stress.

Investing in a professional Forex training program will save you a lot of money, a lot of time, and a lot of stress.

Lack of discipline.

Discipline is something that a lot of traders struggle with. Fear and greed is one of the biggest reasons why traders fail. Having the knowledge needed to be successful will not be enough if you cannot control your discipline.
how to control fear and greedWarren Buffet is probably the best example of a trader that is 100% unaffected by fear and greed issues.
He is one of the richest guys in the world but he has not made his money by being greedy, or by being fearful. He has made his money be being clever, and very well informed.

Its a lot easier to control fear and greed issues if you have the correct education, but it can still cause traders problems.

I like to think of trading in the way you cross a busy road. If you have not been taught how to successfully cross the road, the chances of getting squashed by a bus are very high, but even when you know how to cross the road, there is still a temptation to go for a small gap in the traffic, and try to make it to the other side without waiting for the road to become clear so you can cross safely.

Trading is about waiting for the road to become clear, so you can trade safely.

False beliefs about the market and how it works.

Most of the education available to retail traders either online, in books, or in other training courses is poor to say the least. Some of it is bordering on madness to be honest, but traders still pay for, and dedicate time to learning this crap, and it will not help them one bit in their trading journey.
false beliefs about how the market works
Some well respected Forex training providers have no idea how the market really works, and importing this knowledge into traders heads is leading to false beliefs about the market and how to trade it. These false beliefs will make it impossible for a trader to make money consistently.

But because the trader does not know that what he or she believes is false, they blame their failures on a lack of discipline, when in fact the problem is a lack of knowledge.

So whats the answer?

Well the answer is to hire a professional trader like myself to teach you how to trade. And if you think its too expensive to hire a professional trader, just think about how much it will cost you if you hire an amateur.

Thanks for visiting my blog, have a great day. πŸ™‚

My New Forex Training course.

New Forex Training courseAs some of you already know i recently launched a new Forex training course called learn to trade in 5 days, and i just thought i would post an update on how that’s going.

The course teaches my number one trading strategy, and is an alternative and more affordable offering to the full 20 or 40 hour courses in which i teach all of my strategies.

I had a good feeling about it when i decided to do offer it, and the response to it has been very encouraging.

I would like to thank everyone that has signed up for the course so far. Some traders have taken the course already, and some are waiting to start.

The feedback i am getting from the people that have taken the course is very good indeed, as is the feedback from the 20 and the 40 hour courses. I have had a couple of traders say that i need to post some feedback on the site to let others know how good my stuff is.

Now i am not the type of person that goes in for pages of made up feedback testimonials to encourage people to part with their hard earned, but having a few genuine testimonials from real traders who genuinely want others to benefit from what i teach, is only going to be a good thing.

I have many visitors to the site, that look at my courses, but for whatever reason, probably the price πŸ™‚ decide not to contact me. Now let me just say this to all of those people that visit the site and click away.

If its the price, then i understand. If its not affordable then what else can you do. But to those people that can afford to pay me to teach them, i would like to say this. Please please please please please do not get me confused with all the other charlatan educators out there. If you have been scammed, ripped off, cheated out of your money by these crooks, then i feel very sorry for you, but i am not one of them.

I had an email from a guy yesterday that had paid over Β£20,000 in the last 5 years to these crooks. He is now having to take out loans to pay for his healthcare because hes lost all his money. It makes me sick, it really does. These people do not hide in the shadows, waiting to pounce. They are all there in plain sight, so called professional traders with flashy websites telling you how good they are, and how many people they have successfully taught how to trade.

I am not going to name them as they will probably sue me. They have very lucrative training businesses to protect after all. Please don’t fall for their lies. These people do not care how much money they take off people, or how many lives they ruin, they are not professional traders, they are con men pure and simple. If you want to learn how to trade you have to pay a real professional trader to teach you, not a professional marketing guru.

What i am offering to teach you, you will not get anywhere else. What i can teach you about this business will change your life. If you want to be a successful profitable trader then email me, give me a call, or Skype me, and listen to what i have to say.

I will be getting together some testimonial’s/feedback for the new training course next week. So please check those out when they are on the site. Once again i would like to thank those who have put their trust in me. I have enjoyed teaching you, but not as much as you have enjoyed learning from me. πŸ˜‰

Thanks for visiting my blog, and have a fantastic weekend.

10.01.2017. Reviews can now been seen here

Do You Really Want To Be A Profitable Forex Trader?

Does that sound like a silly question? Its not. Its a perfectly reasonable question, but think about it a while before you answer it.

People get involved in this business for many reasons, but the main reason people get into this business is to make more money, and to have more free time. But the strange thing is, for the majority of people that trade the Forex market the reverse happens, they have less free time and less money.

Even for the majority of profitable traders, time spent in front of the screen in proportion to the money they make is not even minimum wage. Out of the 5% of traders that consistently make money from Forex trading, only about 10% of them actually make it to the point where they are making life changing amounts of money.

improve your trading resultsWhy is this? The answer is simple, the driving force behind most peoples foray into the Forex business is money. They want to make money, and lots of it. So what is wrong with that you ask. Nothing at all. 20% of the worlds wealthiest people have made their money in the finance industry.

So whats the problem? Well the problem is you have to be good at your job if you want to make money, and the better you are at it, the more money you will make. You cant say i want to make more money next week than i made this week. That will only happen if you are a better trader next week than you are this week.

So now answer the question, do you want to make money, or do you want to be a great Forex trader. If you want to make money, forget about trading and contact me about my managed account service.

If you want to be a great trader then contact me about my Forex training course.

Is it possible to make life changing amounts of money from Forex trading?

Yes it is. But to make life changing money from the Forex business you have to be a great trader. Most people fail in this business because they want to make money, they don’t want to be great traders.

Any job that requires you to have a skill requires a period of training, an apprenticeship to be a tradesman lasts for 4 years, doctors, vets, solicitors study for much longer than that. So why do people think they can enter this business with no skill, and make lots of money very quickly.

new life

Because its easy right? Forex trading is really easy, and anyone can do it, you just need to pay a few 100 dollars for a training course, set up an account with a broker, and you are on your way to your first million. In reality that will not happen, and for the majority of new traders making a million from trading is just a pipe dream.

Here’s a question for you. How do you walk away from this business after 12 months with a million pound in your account? You start with 10 million. πŸ™‚

To be a great Forex trader you have to have, education, determination, discipline, and a skin as thick as a rhino. I have been in the trading business for many years, and there is nothing else i enjoy more than taking money out of the market, but the reason i can do that is because i am a great trader. I always wanted to be a trader, and i will always be a trader. Making money from the markets is a by product of being a great trader.

Most traders make money by pure luck rather than judgement. Think about this for a minute and this is 100% true. If you closed your eyes and randomly hit the buy or sell button, you would have more successful trades than the average retail Forex trader. I am not going to go into detail of why that is true, but it is.

A complete understanding of the market and the forces that drive price is the only thing that will make you a great trader, and consistent profitability will be within your reach. So if you do not have that understanding, and you feel that there is something missing from your trading methodology, then please feel free to contact me for an informal chat, about how i can help you become a great trader and take your trading to the next level.

Now answer the question again, do you really want to be a profitable Forex trader?

Thanks for visiting my blog, have a great day. πŸ™‚