Tag Archives: forex

Is It Really Possible For Professional Forex Traders To Trade And Teach?

There is a lot of discussion regarding whether professional Forex traders really have the time to trade and teach. This is my opinion on the subject.

Why Do Professional Forex Traders Teach?

The majority of discussion is centered around the premise that “why would a professional Forex trader give up his or her time in the markets, to teach others how to trade?

professionalThe majority of Forex training providers offer training courses for a few 100 bucks, which has to prompt the question “if you are a successful profitable trader, why are you offering to train and mentor people for a few bucks an hour, when you can be earning 1000’s per day by trading the markets?

This is a valid question. The obvious answer would be that the training provider does not really know how to trade Forex successfully, and the money they make from teaching, is the only money they really make from their time in the Forex business. But in the majority of cases this is the only reason the training providers exist, to take money by making false claims about their skill set and what they can offer to aspiring traders.

Training Providers And False Claims.

Many training providers that claim to be able to trade successfully (to the point where it is their main source of income) are merely re hashing the same old rubbish that everyone else teaches. But based on the fact that the people who pay him or her for the training, know less about the job than the training provider does, then he or she will be able to pass themselves off as a successful trader, when the truth is they do not really understand how the market works, anymore than the 1000s of people that post free training videos on YouTube.

So ask yourself this, is it really worth paying a few 100 bucks for a Forex training course? And the short answer is no. I can tell you with 99% certainty that any training course that offers to teach you how to trade for a few 100 bucks, is going to offer nothing more than you can get for free on the internet.

No matter how they jazz it up, or how many people say how great their course is, the truth is they are merely marketing experts, and not Forex trading experts.

The Value Of A Professional Education.

I have no desire to put together a training course for a few 100 bucks. The value of what i teach will give you the opportunity to make life changing amounts of money from the Forex market, and that information is not available for a few 100 bucks.

My time is very precious to me, and i have invested 1000’s of hours of chart study to get to the very top of my profession, and to expect someone in the top 5% of Forex traders in the world, to give their precious time for a few bucks an hour, well its not going to happen anytime soon.

So the next time you see a Forex training course for a few 100 bucks or less, just ask yourself this simple question, if this professional trader is going to train and mentor me for a few bucks an hour, how much is he or she really making from the Forex market? And the answer is, less than a few bucks an hour.

To be in the 5% you have to be trained by the 5%. Don’t waste you time and money on anything less.

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

The Forex Trading Matrix

What do you see when you look at a Forex chart?

If you have ever seen the film The Matrix you will be able to relate to this article. If you have not seen the film then i recommend you do watch it, as its a great film, and one of my personal favorites.

I was inspired to write this article by a comment made by one of my students. He said that looking at a plain price action chart was like looking at the matrix encoded.

The Forex MatrixThe scene in the film i am referring to is this one. Where Joe Pantoliano who plays the character Cypher, is sitting in front of a computer screen looking at the matrix. And Neo says to him “is that the matrix? do you always look at it encoded?” Cypher then says “you get used to it, i don’t even see the code, all i see is blonde, brunette, redhead”.

Looking at a Forex chart is very much like looking at the matrix. We don’t even see the chart, all as we see is buy and sell opportunities. The point i am trying to make is when you understand the chart at that level, you can cut through all the crap, and just see what you want to see, and what you need to see, the opportunities to make money.

The big Forex mystery.

A plain price action Forex chart is a big mystery to a lot of traders, so they put indicators on the chart to enable them to make sense of it, and give them trading opportunities.

The Big Forex MysteryBut indicators are lagging, and they give you false signals. They tell you what has happened, not what is going to happen.

Forex trading is not a big mystery, you just have to be able to read and understand a chart. By learning and understanding advanced price action you will be able to see what is happening in the market right now, and take high probability trades based on that information.

But its not easy, and it takes a lot of time to really learn and understand what is happening in the market, so you can see the blondes, the brunettes, and the redheads, without looking too hard. But unfortunately most traders are lazy, they do not want to devote the time needed to be able to learn how to read the chart correctly.

But laziness costs you money in this business, so if you want to make money and be successful, you have to be prepared for some hard work. Don’t forget you are competing with traders that have years and years of experience, who are trading at a professional level, so you have to equip yourself with the same knowledge and understanding as they have, if you want to be as successful as they are.

Set a thief to catch a thief.

I am sure you have heard of that saying before. The best person to catch a thief is another thief, because he or she knows how thieves think. So how can you apply that to trading?

ThiefIt is common knowledge that 95% of Forex traders lose money, and only 5% can be consistently profitable over the long term.

To be consistently profitable you need to set a thief to catch a thief.

If you want to trade against professional traders, you have to think like a professional trader.

And who is the best person to train you to think like a professional trader? Another professional trader.

You would not employ a tree surgeon to teach you how to be a brain surgeon would you? So why employ someone from the 95% to teach you how to be in the 5%. If you want to be the best, you have to be trained by the best.

For more information on how you can learn to trade Forex like a professional trader, and decipher the Forex trading matrix, please check out my Forex training course here.