Month: April 2018

The early years of trading.

When I first started out on my journey as a trader I did not have the option of paying a professional trader to teach me how to trade.

When I started trading equities over 30 years ago there was no internet, there were no charts. I had to make my own charts by taking the prices from the financial times. I had to call my broker when I wanted to place a trade. Trading was very different back then.

Trading back then was very much for the privileged few, people that had friends or family members that worked in the city that could get them in, and teach them how to trade. I did not know anyone in the city, so the only option available to me was to teach myself.

Trading in the 21st century.

The options available today for people that want to get into trading are many. There are 1000 of brokers and trading educators that you can choose from to help you get started. There are 1000 of youtube videos for you to watch, with 100s of different strategies. The trading world is your oyster and making your millions is just a mouse click away.

So why is it so bloody difficult to make money?

The challenges for retail traders today.

The problem retail traders have today that I did not have is bad education. Retail traders are constantly bombarded with bad education. This comes in many forms. YouTube videos, charlatan training companies, trading forums, social trading websites etc. I did not have to deal with any of that.

So rather than listening to a bad education, I studied charts. All the information you need to make you successful is within the chart, you just have to know what to look for. And the problem is, retail traders don’t know what they are looking for, and the really sad part is they think they do.

Retail traders are so bombarded and brainwashed with a bad education, they think they know how to read the chart when they really don’t. They think they understand how the market works when they really don’t. They are constantly blaming themselves for not having the correct psychology when the truth is they do not have the correct understanding of the market.

The solution to the problem.

Well, there really are 2 solutions to the problem.

Solution 1 is to ignore all of the bad education that is out there and concentrate on chart study.

So how much chart study do you need?

Well, I have been trading Forex for 14 years. I generally trade up to 12 hours per day 5 days per week. That’s a total of 42,000 hours. So I have done a lot of chart study. It probably took me around 3 years before I became consistently profitable, but that still almost 10,000 hours of chart study.

So are you prepared to spend at least 10,000 hours over the next 3 4 or 5 years to teach yourself to trade?

If not you need to consider solution 2. And that is to pay me to teach you how to trade.

Within 5 days you can be trading with a strategy that will make you more money in the Forex market than you ever thought was possible. You don’t need to spend 10,000 hours and years of your life teaching yourself. Yes, its very satisfying to say that you are self-taught, but whats more important, telling someone you are self-taught or making money. I know whats more important to me, and its making money.

So back to the question. Can you really teach yourself to trade? Yes, you can, as I have done it, but do you really want to?

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