The Importance Of A Clearly Defined Strategy For Forex Trading.

Rob TaylorI was prompted to write this article after a conversation I had with a trader yesterday. He came to me as he was considering taking my training course, but he told me he was already receiving training and mentoring from another “professional trader” but he was struggling to make money in the markets and could not work out whether price was going up or down.

After talking to him for a while it was very clear to me that he did not have a clear strategy for entering and exiting the market. Which I found very odd since all professional traders have clearly defined, tried and tested, profitable trading strategies for entering and exiting the market. So the question needs to be asked, is this guy who is training and mentoring him really a professional trader, or a con man that calls himself a professional trader?

Now, most people don’t mind wasting a couple of 100 bucks on wannabe professional traders that sell training courses, but this guys course was almost $3000, which by most standards is a lot of money to waste on someone that claims to be a professional trader, but does not have a clearly defined profitable trading strategy.

So if you are considering another “professional trader” other than myself then please do yourself a favor and ask them these questions.

1. Do you have a clearly defined strategy for entering and exiting the market?
2. Is the strategy a professional trading strategy? (Most of them will struggle here because they don’t know the difference between a professional trading strategy and a retail one).
3. Is the strategy a profitable strategy in all market conditions?
4. Can the strategy be backtested over at least a 10 year period, and is the strategy a profitable strategy over that period?
5. Can the strategy be traded on any pair?
6. Does the strategy work on all timeframes from the one minute to the monthly?
7. Can the strategy be traded at any time of the day or night?

If you do not get a clear YES to all of those questions then move on.

Any Forex trading strategy should meet all of the above criteria. If you do not get a yes to all of those questions then please consider spending your hard earned money somewhere else, because the so-called professional trader is selling you the same retail trading rubbish that you can get on YouTube for free.

The Forex training business is full of con men, do not fall victim to these parasites.

Thanks for visiting have a great day. 🙂

The Importance Of Getting Forex Training From A Professional Trader.

Rob TaylorI tell you what really pisses me off. Forex training providers that are taking peoples money and not delivering what they promise.

Like many people I speak to, you may have paid for a Forex training course that has promised to teach you how to become successful but has failed to deliver on that promise.

I was prompted to write this article by someone that contacted me this week, who had paid many 1000’s of pounds for a Forex training course in London that promised to teach him how to trade. When he told me his story I felt sick and very angry to think that he had been conned by this so-called trading academy.

Why are these companies allowed to still be in business when they are teaching people the same old crap that you can get on YouTube for free. It really is past a joke now, something needs to be done to stop these companies taking money from people with false promises.

Some of the largest training companies are the biggest culprits here. There needs to be some regulation in place to stop these people from churning out this crap and taking peoples money.

Ok, rant over.

If you have been a victim of these con men I would like you to email me and tell me your story.
I will not publish or divulge any of the information you share with me, everything will be confidential.

The value of professional training.

You cannot put a price on the value of getting professional Forex training from a professional Forex trader. Everyone I teach is blown away by the quality of the education I give them. It gives me great satisfaction to know that.

One guy I was teaching this week who had been trading almost 10 years, said, after his first lesson with me he just sat there dumbfounded by what I had just taught him. Almost 10 years he had been following retail trading strategies without success, and now he’s on his way to trading with professional trading strategies that do actually work.

People say why do you teach? I say because of the reaction I get from my students when I tell them everything you have been doing for the last 10 years was wrong, and this is what you should have been doing.

Thanks for visiting my site. Have a great weekend.

Will 2018 Be Another Losing Year For You?

Rob TaylorEinstein once said that the definition of madness is doing the same things over and over again and expecting different results.

So will 2018 be your year for Forex trading success? Not if you are doing the same things that you were doing in 2017 it won’t.

Less than 5% of retail traders consistently make money in the market. Why?

Retail trading strategies don’t work, its as simple as that.

What do I mean by a retail trading strategy? A retail trading strategy is any strategy that uses beliefs about the market that are incorrect. Beliefs that are built up by years of watching YouTube video’s and visiting sites like Forex Factory and Baby Pips.

Retail traders do not understand how professional traders trade. Despite all the so-called Forex gurus that claim to be able to teach you how to trade price action, or teach you how to trade order flow, or teach you how the big banks trade, or teach you how the institutional traders trade, retail traders are still in the dark about what really goes on in the Forex market.

The big banks do not trade how you think they trade, the institutional traders do not trade how you think they trade, professional traders do not trade how you think they trade.

Why are you doing the same things over and over again?

Because you don’t know any different that’s why. You have been brainwashed by charlatan educators who claim that they know what they are talking about when they don’t. You have taken too many courses for a few 100 bucks, and you think you know how to read a chart, but you don’t.

If you don’t know that you are doing it wrong then you cant change it. But trust me if you are losing money in the markets then you are doing it wrong, and you need to change what you are doing.

Thank you for visiting my site, but don’t go just yet.

How ever you may have reached my site today I would like to thank you for visiting, but before you click away just stop for one second and listen to this. This is a pivotal moment in your Forex trading career. If you read some of the articles on my site and click away then you have just missed an incredible opportunity to find out what you have been searching for your whole trading career. How the Forex market really works.

I am a real life professional trader. I have been where you are now, I have done what you are doing now. And now I am prepared to share all of my years of knowledge and experience with you, to enable you to change the way you look at the market forever. I don’t just claim to know what I am talking about. I actually do know what I am talking about, and I prove it to my students day in and day out in my live trading room.

Free access to my earn while you learn and my live trading room.

So here is an offer you can’t refuse. Just to prove to all the doubters out there that I am the real deal I am going to put my money where my mouth is. For all traders who enroll for my 15 or 30-hour course this month, I am going to give you free access to my live trading room, and my earn while you learn offer, for life. That is a saving of £1000.

Why am I doing this? Because the feedback that I have been getting from students that are in the live trading room is amazing, and I feel that everyone that takes my 15 or 30-hour course should have the benefit of the trading room, as it really does transform the way you look at the market and turbocharges your learning.

So now you have no excuses. Make 2018 the year that you do something different. Make 2018 the year that you finally realize your dream of becoming a successful trader. Make 2018 the year that you get a proper trading education from a real trader that makes his money from trading, not from training.

For more information on my Forex trading course please click here.

Thanks for visiting, and remember this is a pivotal moment in your Forex trading career, are you going to click away, or are you going to contact me and see what I have to say?

What Do You Need To Be A Successful Forex Trader?

What Do You Need To Be A Successful Forex Trader Successful Forex traders are a rare breed. Only 5% of retail traders actually make money in the markets consistently.

But consistent profitability is the goal that all retail traders aspire to.

So what do you really need to be a successful Forex trader? This is what i think you need.

1. A Professional Trading Strategy.

Without a professional trading strategy you will really struggle to be consistently profitable. There are many retail trader strategies available to you, but they are all constructed with beliefs about the markets that are incorrect.

The foundations of all good strategies have to be built with a sound understanding of how the markets work. If you have that understanding built into your strategy, then you will have a much greater chance of success. If you build something without a solid foundation it will fail.

2. A Trading Edge.

You will hear this a lot on retail trading websites. An edge is an advantage that traders look for to give them a head start on the competition. Many retail traders believe that they have found, or need to find, something in the market that no one else has previously found, and that will be their trading edge.

Let me just say this for the record. Stop wasting your time trying to find an edge. Your edge is knowing how professional traders trade the markets, and trading the way they trade. If you continue to trade like a retail trader, then you will never find the edge you are looking for, and you will continue to lose money. Knowing how to trade correctly, combined with a professional trading strategy, is the only edge you will ever need.

3. A Professional Approach.

So you know how to trade correctly, you have your professional trading strategy, so you have your trading edge. What you now need to tie it all together is a professional approach.

This can be a problem for some traders. Everyone wants to get into the markets, make their money and get out again. If you have the understanding of the markets needed to be successful, and you have a professional strategy, then its perfectly reasonable to expect to do this on every trade, but its not going to happen on every trade.

Sometimes you have to wait for the correct entry, or the correct exit. You cannot just jump in and out of the market and expect to make money. This is not how professionals trade. A professional trader will wait until the odds of success are firmly weighted in his or her favor, before entering the market. The chances of a successful trade are then much greater.

4. Professional Risk Management.

A professional approach requires you to manage risk. Every time you enter the market you are taking a risk. If that risk is adequately managed, then over time with a good strategy you will make money consistently. Jumping into the markets with 10 lots and no stop loss when you have 5k in your trading account, is not adequately managing risk.

Retail traders are fixated on how much they can make in the markets. Professional traders are fixated on how much they can lose in the markets. If you lose less, you make make more. Just knowing the correct place to put your stop loss will save you money. Whats the point in getting stopped out for 20 pips on every losing trade, when you can get stopped out for 12, or 16. Losing less will make you more.

5. Capital Preservation.

Capital preservation is a major part of risk management. If you have more capital, you can make more money with less risk, if you have less capital you make less money with more risk. So you need to manage risk effectively in order to increase you capital balance over time.

Is it better to make 10% per year on a billion dollar fund with a low risk approach, or better to make 100% per year on a 100k fund with a high risk approach? Its not rocket science is it? This is why the top hedge funds are never short of people willing to invest, because they know how to generate good returns by managing risk, and preserving capital.

I hope this article has given you some insight into how i like to approach the markets.

If you wish to learn how to trade Forex using professional trader strategies, please consider my Forex training and mentoring course.

If you enjoyed this article please feel free to like it or share it. Thanks for visiting my blog. Have a great day. 🙂

How Much Time Are You Going To Waste? How Much Money Are You Going To lose?

Professional Forex TraderSome statistics for you to consider.

95% of retail Forex traders lose money.

Most retail traders blow a min of 3 trading accounts before they give up.

Apx 50% of retail traders give up within the first 6 months.

Of the 50% that are left apx 90% of them give up within 2 years. Of the 10% that are left around 30% will go on to achieve consistent profitability.

The average length of time it takes a retail trader who sticks it out to get to consistent profitability is 6 years.

Not great stats are they?

Why are these stats so bad?

I was watching a YouTube video the other day of a so called professional trader who said that he did not know how institutional traders trade. He also said that brokers do not put retail orders in the market, but just write them down on a piece of paper. There were over 200 people watching his live feed trying to learn from him. How are you ever going to make money listening to people like that, and the internet is full of these clowns.

You are not going to learn how to trade by watching YouTube videos.

I was sent this email the other day from a marketing company telling me about this fantastic trader.

Hi Rob,

I wanted to give you one last reminder to get started with xxxx’s trading room. His $7 trial is ending in just a few hours (midnight TONIGHT).

Look I’ve been in this industry for a few decades now, and I’ve seen all sorts of rapscallions trying to bamboozle you into joining something to steal your hard-earned income.

That is not the case here.

We’re offering to give you full access to a legendary trader (xxxx xxxx) for just $7 for an entire 7 days.

Think about what it would cost to pay someone like this to be your coach. Most people of his caliber are charging a MINIMUM of $1,000 per hour.

That’s $40k for a week… and we’re giving you access for just $7.

Why?

It’s pretty simple.

We know that many of you will continue to stay on as members, paying just $197/mo for access to his trading room (which is a steal in itself!). The $7 is simply to weed out those who are actually serious about this, from those who aren’t.

And I want to reassure you that if this trading room isn’t for you… just cancel it within that first 7 days and you’ll never be charged again. It’s easy to cancel – just email his support team. There’s no trickery here.

Go here to get started now.

Remember, this offer ends at midnight tonight, just a few hours from now.

So people of his caliber charge a min of 1000 bucks an hour, but he’s charging 7 bucks a week, then 197 a month. Why do people fall for this crap. If he was worth a 1000 bucks an hour that’s what he would be charging.

And if he is such an amazing trader, why would you decide that his trading room is not for you?

Read the title of this article again and think about this statistic.

90% of successful professional traders have been trained by another successful professional trader.

Don’t waste any more time or money. For more information on my Forex training and mentoring program please click here.

Is Fundamental Analysis Better Than Technical Analysis?

is fundamental analysis better than technical analysisI am not going to name names here, but i was watching a video from a well respected Forex training provider today, and it prompted me to write this article.

His training course is heavily weighted towards the premise that you will have more success if you use fundamental analysis rather than technical analysis.

The provider stated that professional traders, hedge funds, investment banks etc, are 80% fundamental and 20% technical. All of their trading decisions are based on macroeconomics and they are just using a 20% technical approach to help with market entries.

Now this is all perfectly reasonable, and i teach fundamental as well as technical analysis in my training course, but is fundamental analysis better than technical analysis? I don’t think it is.

Fundamental analysis will only give you an opinion of the market direction, and opinion is subjective. Sometimes your opinion is correct, and sometimes its incorrect. Just because you think something is going to happen, does not mean it will happen.

There has been a strong fundamental case for a number of months now, for the BOJ to expand on monetary easing, but they have not done it as yet. So if you have been buying yen pairs based on that, then you are in a bit of bother right now.

Putting fundamental analysis to the ultimate test.

Now is a great time to put fundamental analysis to the ultimate test. Lets take the Brexit vote for example. Now if Fundamental analysis was the best thing since sliced bread, and you were a hedge fund trader, or an investment bank, you would have been on the right side of the Brexit move.

Now do a search on Google to find out how many of these guys were on the right side of that move. There are 1000’s of hedge funds and investment banks, but it seems only 1 guy made any serious money on the move. And that was Crispin Odey. Crispin is a well respected hedge fund guy and he made 220 million on Brexit. See Brexit buccaneer rakes in £220million.

I would just like to point out that Crispin manages an 8 billion fund. So although he made 220 million, he only made a 2.75% return on that particular trade. Yes i agree its not too shabby, but people need the facts i think.

If the title of the article was “Brexit buccaneer rakes in 2.75%” it would not have the same ring to it now would it. 🙂

Here are a few sentences from that article.

A hedge fund tycoon made more than £220 million for himself and his investors yesterday after betting on Brexit.

As many in the City nursed heavy losses, staunch Leave supporter Crispin Odey declared: ‘I think I may be the winner.’

He is one of a handful of hedge fund bosses to have hit the jackpot after taking big ‘short’ positions on company stocks and sterling, betting on their value falling in the aftermath of a vote to Leave.

Now please pay attention to the words “a handful”. So out of the 1000’s of investment bankers and hedge funds a handful got it right.

If you actually looked at all the trades that were taken in the hours of the Brexit vote, you would probably find that traders that rely solely on technical analysis, did far better from that move than the fundamental guys did.

Mr Odey also revealed his trading position had left him in line for huge losses if financial markets had risen, and he had lost his gamble.

So he picked a side, and gambled his investors money, and was correct. Do you think we would have been told about his huge losses if the gamble had gone against him? Well you are not hearing about the other hedge fund guys who gambled the wrong way are you.

Can i just make a point here that i do not like the word gamble, as trading is not about gambling. You take calculated risks based on high probability, and the higher the probability, the more success you will have.

So why do hedge funds and investment banks rely heavily on fundamental analysis and not on technical analysis?

The main reason is, they are managing huge sums of money, and they cannot enter and exit the market as a retail trader would. They have to build up a position, and an opinion over time, they add or subtract from that position as the fundamentals change.

To enter and exit the market with one trade would not only spook the market, it would also leave them in a vulnerable position should the market move against them. They have to hedge in and out of the market, building up an average price for their holdings, hence the term hedge fund. This strategy leaves them less exposed to currency fluctuations than they would be if they were all in, all out.

Retail traders can trade this way too if they know how to do it, but it does not mean that this way is better. It does not mean that fundamental analysis is any better than technical analysis, its just a safer way to trade large sums of money.

How i trade the Forex market?

I personally trade 70% technical and 30% fundamental. And when i say technical i am talking about reading a chart rather than reading a news story. People get technical analysis confused with indicators. They think that technical analysis is putting moving averages on your chart and waiting until they cross.

I trade by reading a chart correctly, and understanding what makes the market move. If you look at my article on the Brexit trade, you will see that the trade was purely based on chart reading. No fundamentals were involved at all in that trade.

Almost everyone that trades fundamentals got that trade wrong, but if you had been trading primarily from a technical standpoint, you would have had a much better chance of success.

So to all the trading providers out there that are telling people the reason they are losing money in the market is because they are trading technical analysis i say this.

The reason they are losing money is because they do not know how to trade.

It has nothing to do with fundamental or technical analysis. You do not need to know anything at all about fundamental analysis to make money in the Forex market, and that’s 100% true and i can prove it.

Fundamental analysis is not the answer to consistent profitability.

So if you are a technical trader that is losing money, and you are considering paying some of these training providers to teach you how to trade fundamentals like hedge funds and investment banks, just think about the Brexit trade. I am not saying what they teach is not going to help you, but its not the answer to consistent profitability that they make it out to be.

Courses that offer to teach you the fundamentals of trading are the in thing at the moment, and a lot of training providers are jumping on the bandwagon to offer this because of the failings of traditional technical based training providers.

Some retail traders think that by taking a course on fundamental analysis they will find the holy grail, but this is not the case. Fundamental analysis is just one approach to trading, and it does not guarantee you trading success. I make a lot more money in a lot less time with my chart reading skills, than i could ever make by following fundamentals.

I know what these guys teach, but they do not know what i teach. So just think about that, when you are considering whether to pay these guys, or to pay me to teach you how to trade.

You get the best of both worlds with my training course. 🙂

How Professional Forex Traders Trade The Markets.

Professional Forex Traders Verses Retail Forex traders.

There are many participants active in the Forex market but to keep things simple i like to split the players into 2 groups. Retail traders and professional traders.

Everyone starts off as a retail trader, but only a very small percentage actually have the skills and the determination required to make the transition from the retail side of the business to the professional side.

How To Become A Professional Forex Trader.

Becoming a professional trader has nothing to do with how many years you have been trading for. Some of my students were trading for over 10 years as retail traders.

Becoming a professional trader has nothing to do with your attitude, or your approach to trading. It also has nothing to do with whether you are trading full time or part time.

There are only 2 things that set professional traders apart from retail traders. Knowledge and consistent profitability. But you cannot have consistent profitability if you do not have knowledge.

Why Retail Traders Lose Money.

Why Retail Traders Lose MoneyThere are many reasons why retail traders lose money, but the main reason is a lack of understanding of how the Forex market actually works.

Now this is a real big problem for retail Forex traders. The reason its such a big problem is that many retail Forex traders believe that they understand how the Forex market works.

Retail traders believe that they know how to read a chart. So if you don’t know that what you are doing is incorrect, and you think that your understanding of the market is correct, why would you change what you are doing?

When a new student has their first lesson with me, they are totally blown away by what i have to say. Traders are so convinced that they know how to trade the Forex market, that it comes as a real shock to them when i show them what they have been doing wrong.

Only when i have educated retail traders to see the market how professional traders see it, can they move forward on their road to profitability .

Why Are So Many Retail Traders Doing It Wrong.

Its a fact that 95% of retail traders lose money. By losing money i mean not being consistently profitable. Everyone makes money from time to time, but making money long term is what counts.

The reason why retail traders are doing it wrong is very simple, its because they have been taught to do it wrong by other people that are also doing it wrong. The so called training providers that are teaching people how to trade, do not know how to trade themselves, and because they do not know they are doing it wrong, how are they going to change what they teach?

So as you can see its a vicious circle of incompetence that breeds more incompetence.

So Whats The Answer?

The answer is to pay a professional Forex trader to teach you how to trade. If you pay for a retail Forex training course, you will only learn how to trade like a retail trader, if you pay for a professional Forex training course you will learn how to trade like a professional trader.

You would not pay a plumber to teach you how to become an electrician would you? Its simple, find a professional trader such as myself, and pay them to teach you how to trade, it will save you years of heartache and lots of money.

How Professional Forex Traders Trade The Markets.

Now i don’t often give away anything for free, i charge a lot of money for my knowledge, and what i teach is worth 10 times what i charge for it, but i am going to give you a little insight into the way a professional Forex trader trades.

I have many strategies that i use every day to make money from the market, all of which i teach in my Forex training course, but to be successful one thing that you have to understand is the intrinsic value in what you are buying or selling.

We are in the buying and selling business, and any business that involves buying and selling has one underlying principle, that if applied correctly, will enable you to make money in any buying and selling business. And that principle is “its not the price you sell it for that makes you money, its the price you buy it for”. If you buy it cheap enough, you can always sell it for a profit.

How Professional Forex Traders Trade The MarketsLet me give you an example. You are chatting to the guy next door and he tells you he’s got a few financial problems and he needs to get some quick cash.

He wants to sell his 2 year old Mercedes, and wants to know if you are interested in buying it. So you ask him how much he wants to sell it for. He says £35,000, but he needs to know right now if you want to buy it or not.

You cannot have any time to go online and check out the model, the mileage the condition etc to get a value on it. So you say “i don’t know if that’s a good deal or not, so i am going to have to say no thank you”.

The next day you see the guy again, and he says look mate i really need to sell this car today, i will let you have it for £25,000, but i need the money today. You have still not checked out the price of the car online, but you are getting it for £10,000 less than he was offering it to you yesterday, so you agree to buy it, as you think it must be cheap now, as its 10k less than yesterday.

So you give him the money and take the car. You then go online to check out the price, and see that they are selling the same car with the same mileage in the same condition in your local garage for £23,000. Now based on the fact that the local garage will probably have a 2k mark up on a car like that, the true value is probably around £20,000 for a quick sale. So you have just lost £5000 in the blink of an eye.

Now why did you lose your money? You lost your money because you bought something that looked cheap, but as you did not know the true intrinsic value of it, turned out to be expensive.

So there are 2 lessons to be learned from that example. Just because it looks cheap, does not mean it is cheap, and knowing the true value of what you are buying before you buy it will make you money. As i said its not the price you sell it for that makes you money, its the price you buy it for.

Thanks for visiting my blog, have a great day. 🙂