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 ๐Ÿ™‚ 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 ยฃ20,000 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. ๐Ÿ˜‰

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

10.01.2017. Reviews can now been seen here

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.

Can Setting Stop Losses Make You A More Successful Trader?

Some traders use them, some traders don’t. I use do them, and in this article i am going to explain why setting stop losses will make you a better trader.

What are stop losses?

stop lossFor those of you that are very new to trading, stop losses are pending orders placed in the market, to close a position at a certain price point, if a trade goes against you.

Stop losses are exactly that, they stop you from being exposed to significant losses if you get it wrong.

Many traders do not fully understand when it is safe to enter a trade, so they often get into the market at the wrong time, and a stop loss is used to limit a traders losses if the trade moves too far from the entry position, to a level where the trader feels that the trade will not be a successful one.

How are stop losses used by the majority of traders?

The majority of traders to do not have a clear understanding of the market, and are therefore entering trades based on how much they are prepared to lose on a trade, rather than how much they can profit on a trade.

A professional trader will always look at a trade from a profit point initially. A professional trader will understand the market, and will see a profit target first before he sets his stop loss.

A typical retail trader will set a stop loss of anything from 10 to 30 pips from their entry point, and they will target a risk reward ratio of at least 2 to 1. So their profit target will be anything from 20 to 60 pips.

Now if you are reading this and thinking yes that’s me. That’s what i do, but i always seem to get stopped out. Whether i set a 10 pip stop or a 30 pip stop i always seem to get stopped out, it just takes a bit longer if i use a 30 pip stop.

Why the majority of traders are getting stopped out.

The simple answer is they are entering the market at the wrong time. Think about this statement.

The market does not care where you enter, and it does not care where your take profit is. The market will do its thing and you will either get stopped out, or price will hit your take profit.

Traders that are getting stopped out more often, tend to use bigger stop losses to avoid the stop out. But if you increase the size of your stop loss, you also have to increase your take profit target. So if you are using a 2 to 1 RR, a bigger stop loss will mean a bigger take profit, and if you are targeting a bigger take profit, the sentiment of the market has more time to change before your TP is hit, and your trade has less chance of working out.

So how can you avoid being stopped out before your take profit is hit?

The answer for the majority of traders is to trade without stop losses. I have been trading professionally for quite a few years now and i have seen many changes in the market, but one of the most significant changes that i have seen, is how many retail traders are now trading without stop losses.

If you want to see your money go down the toilet, trade without a stop loss.

Stop LossesWhy are retail traders trading without stop losses?

The main reason is because they do not want to lose their money, but another more interesting reason is they think that if they put a stop loss in the market that is visible to their broker, then it will be easier for the broker to stop them out if they know where their stop is.

Many retail traders talk about stop hunting, and say that if your stop is visible to your broker he will hunt you down and stop you out. This is complete rubbish. No broker is going to move the market to get your 100 bucks. Do you know how much money is costs to move the market 1 pip? Why would a broker spend millions for dollars trying to move the market to get your 100 bucks?

Trading without a stop loss is not the way to be successful in the Forex business. Trading success is about entering the market at the correct time. If you do this then the chance of you getting stopped out is greatly reduced, and your trade is more likely to hit your take profit.

Why i prefer to use stop losses.

To benefit from the use of stop losses you first have to learn how to trade, so you are entering the market at the correct time. When you know how to trade, a stop loss is very important because it takes the emotion out of trading.

When you enter a trade with a stop loss, you are limiting your risk, so if you are comfortable with your risk, and your potential reward, then you are trading based on a calculated trading decision, and not on an emotional hunch.

Traders that trade without stop losses are emotional wrecks, as they do not know their potential loss in advance, so they are glued to the chart, hoping and praying that the trade works out before they lose their shirt.

This is not how professional traders trade. Professional traders take calculated risks based on high probability trade set ups. They set a stop loss, and a take profit that they are comfortable with, based on a clear understanding of the market and its participants. When the stop loss and take profit is set, they move on to another trading opportunity.

Set and forget.

Although i am not a great fan of set and forget it does take a lot of the emotion out of trading. I tend to use a set and monitor strategy rather than a set and forget. The market is constantly changing and i believe that you have to monitor your trades as the market changes. You may need to tweak your stop a little, or your take profit, to maximize your potential reward, and limit your potential risk.

Setting stop losses will help you to become a more successful trader.

Setting stop losses takes the emotion out or trading.
Setting stop losses enables you to set and forget. Or as i prefer set and monitor.
Setting stop losses helps you to protect your capital.
Setting stop losses means you can move onto new trading opportunities, and not sit glued to the chart all day.
Setting stop losses gives you your life back. If you want to go for a walk, or go and grab some lunch you can do, because you have the protection of a stop loss, and you are comfortable with your risk.

The most important thing to take from this article is stop losses will only work if you are entering and exiting the market at the correct time, and that is the holy grail of trading in my opinion.