Forex Trading Should Never Be A Race
In this video:
01:40 A Common Issue With Forex Trading
04:08 Take IT Slow!
04:58 What I Highly Recommend
I want to explain to you why becoming a good Forex trader should never ever be a race. So let’s get into that and more right now.
Hi Forex traders, it’s Andrew Mitchem here the Forex Trading Coach. Today is Friday the 21st of August. As I mentioned, in today’s video and podcast I want to help you by explaining to you why becoming a good and profitable Forex trader for you should never ever be a race like it should never be rushed.
I also want to give you details about a client of mine who has started really slowly and now developed into a really good trader and he has made a 27.8% in just the last 11 weeks. So let’s get into it.
So let’s think of cheese or whisky or a good port whatever it is that you like that way that starts slowly and develops and matures into something outstanding and your trading should be no difference. So whether you’re thinking of cheeses or whiskies or port or being a Forex trader, think of it as something that starts slow and it matures overtime and gets better and better with age and with time.
That's really the best thing that I can explain to you of how you should think of your trading. I know that from experience and I know that, because that's the path that most of my very best clients take. They start slowly and they work into something outstanding, but it does take time. You see, I get lot of people come to me. They say, “Hey, Andrew how long is it going to take me to take your course and to become a really good trader and make lots of money and give up my job that I hate.”
A Common Issue With Forex Trading
They always thinks and that's the issue. Too many people think that Forex trading is suddenly going to change all their financial problems around. They think they're going to suddenly be able to give up their job and suddenly become a Forex trader two months later. You can give up your job. You can make outstanding returns in trading but don't expect it to happen right straight away. You have to expect to give it sometime.
You can't just jump in to a new business or a new industry and just like a click of a fingers and a few weeks later, you suddenly going to have everything mastered. You just cannot expect that to happen. I'd like to continue with that theme. I'll mention an email here that's come through from John. Now, I've just looked up on my records and John joined me on the 16th of December, 2014. That was about, eight months ago. He said here, “Hey, Andrew just thought I'd drop your line and give you an update on my trading.” He said, “I've started with your course, but I can't drop when I started. I finally got a handle on your strategy. It's been eleven weeks now that I've had great success gaining 27.8% over this period. I follow your daily recommendations and I analyze them and they helped me to trade the one hour charts, the four hour charts and the twelve hour charts. Mainly the twelve hour charts were great success. I also find that I'm now placing less trades per week as well.”
You can't argue with profitable traders. 27.8% over the last 11 weeks, so roughly that's almost three months, yet for the first five months of that John was going sideways or losing money or maybe making a bit but then losing again. He stuck at it for five months through that transitional period of sort of working out how to adapt a strategy, how to look at the charts, analyze things, come back to me with some help, watching webinars, etc., going through a course, studying. Sure, some people pick it up way, way quicker but I'd much rather have an email like this from a client who's now made 27.8% over the last 11 weeks.
It's not been easy over the last 11 weeks either. You think of June, July, August or especially July and August, traditionally quite difficult months to trade Forex because of the northern hemisphere holiday season, but 27.8%, it's there, it's in writing from John.
Take IT Slow!
I'm so thrilled. I'd much rather have clients who start very, very slowly, probably lose a bit to start with when they're sort of getting to know a strategy and a system and then develop over time to become outstanding traders. That is over the six years or more that I've been teaching people.
That is the path that I see the best traders take. They don't rush into it straight away expecting to double their account after a week. They take their time, they work at it, they stick at it and yet they come out with great trades results like that. That's absolutely outstanding, John, thank you for sharing that information and for everybody else out there who is struggling, stick at one thing, get some help, stick at it, work at it and it will become profitable, exactly like John's has done there.
What I Highly Recommend
If you do need help with that, if you've been trading for a while, what I highly recommend you do is jump onto my webinar for frustrated Forex traders for experienced and frustrated traders that I hold twice a week. If you're brand new or you're thinking about getting into trading, then I also hold a webinar for new traders as well.
That's it for now. Hope that's helped you just take away that thought process of starting slowly, building up step by step by step and eventually things will go outstandingly well for you.
This is Andrew Mitchem from the Forex Trading Coach.
Have a great weekend. I'm going flying this weekend, cannot wait. Look forward to talking to you this time next week. Bye for now.