This Is the Part Where I Show You How To Win
I’ll get right to the point.
If you’re ever going to trade Forex for a living, these are the 6 steps you must take:
1) Get rid of all the things that are bringing your account down
You can’t go forward if you still have things holding you back. Did you know things like Fundamental Analysis and Support and Resistance lines are guilty of doing this very thing to you?
Everyone learns the same 12 or 13 Forex tools and concepts, and they’re all terrible. Yet we keep seeing others use them, so we just assume it’s the way to go. Then our accounts go down, or go nowhere, and we can’t figure out why.
Oh, the amount of websites, blogs, books, and videos alone that tout the wonders of these horrible, outdated tools that weren’t even created for Forex trading.
It has been a waste of your time at best. Devastating to your account and your progress as a trader at worst.
I call out these tools, explain why they fail you, and what you can do instead.
Emotions getting in your way? It doesn’t make you weak, it makes you human. But I can say this with great certainty — if you don’t minimize them, you’re finished. I can help with this too.
Don’t have enough time to trade? There’s an easy solution.
Here at No Nonsense Forex, we eliminate the things holding you back FIRST before we go forward. It’s only fair to you. This is how people become top level soldiers, athletes, and craftsmen. Traders are no different.
2) Traders don’t understand their enemy — or even realize there is one. KNOW YOUR ENEMY!
Forex is an Us vs. Them scenario every time we sit down to trade. Do you know who the “Them” is?
Do you know what they do and how they do it?
Do you know how you can not fall victim to them?
I’m amazed to this day by the amount of traders I talk to that don’t realize this at all. If you were a fighter and had a match with a much larger opponent coming up, would you study their every move, or do nothing and hope for the best?
We identify this enemy, learn their methods, and learn how to avoid their wrath. You will always have an advantage over traders that aren’t aware of this, and believe me, it’s most of them.
3) Nobody has the right trade management in place. Figure it out, and there’s no stopping you.
Your trade management probably isn’t where it needs to be. Tell me this — do you have a method you use every time you enter a trade, from the time you enter until the time you exit?
Do you put your stop loss in the same place?
Do you account for volatility?
What if a big news event is coming up?
Are you capping your upside?
How much profit are you taking at a certain point, and why at that particular point?
If you can answer all of these questions truthfully and honestly, I salute you. You’re well on your way. But most Forex traders cannot, and not having a trade management structure in place in an account killer.
I have a system that has worked for me tremendously, and I reveal it piece-by-piece on this site.
4) Up your odds
Would you rather have a 1 in 3 chance of winning, or a 1 in 100 chance?
Most people are closer to 1 in 100 because of the way they go about their Forex trading.
Many traders love to trade the news. Short-term, it’s fun to do. Long-term, this is a terrible idea.
Making money is a lot more fun to me than a quick thrill or being able to say “I made x amount of money in x amount of time”.
Do you trade shorter time frames? The 5 minute chart? The 15 minute chart? Do you have a smart reasoning for this?
There’s a time frame that gives you much better odds of winning than the others. You should get to know it.
5) Are you putting yourself in the best situation to win every time? I doubt it. Get there ASAP.
Beyond trade management, do you have a plan in place from start to finish no matter when and where you trade?
It sure makes things a lot easier.
Even better than that, it gives you discipline, which every pro trader has a TON of.
Many of us don’t have discipline inherently, but a good trade plan that you utilize over and over again can sure help with this.
Do you only limit yourself to trading certain currency pairs? Again, do you have an intelligent reason for this?
We’re here to optimize our chances of winning. Before the game even starts, before you even enter a trade, you get to decide if you’re going to be closer to the 1 in 3 chance, or the lottery ticket.
Choose wisely. A chance to trade Forex for a living depends on it.
6) Get a mentor if at all possible.
(MEN-tor : noun : 1. an unpaid consultant for life)
The above is not an official definition, but those who have been in this position before know exactly what I mean.
I cannot be your personal Forex mentor, but I can be the next best thing. I have an entire YouTube channel with new videos every week covering any topic you need to know about trading Forex.
And a great blog, if you learn better that way. I personally do.
And if it’s not covered, you can just ask me yourself.
This game is hard enough as is. Going it alone makes it even harder. You don’t have to anymore.
I’m brash, and I’m very unconventional — but that’s exactly why I win.
Having me on your side is a gigantic advantage over somebody who has never found this site.
So stick with me. And let’s go get it.