forex trader Archives - Professional Forex Trading "Live" With Rob Taylor

The Forex Market Is Not A Double Headed Coin.

March 26, 2022September 1, 2023Rob Taylor

I have not updated the site in a while as I have been so busy with trading and teaching. I’m writing a quick article about the importance of understanding there are 2 sides to the market.

A lot of Forex traders are breaking even at best, very few traders are actually making money consistently in the markets. Why is this? Well, it’s basically a lack of understanding about what is going on in the markets.

We all know trading is not easy but having a sound understanding of what is going on will stand you in good stead going forward. So what do I mean by a sound understanding? Well, most traders do not actually know there are 2 sides to a coin and 2 sides to the market and to be consistently profitable you have to be trading on the professional side.

So what is the professional side? Most people think that by following the big banks you are trading the professional side of the market, but that’s not actually the case. The professional side of the market is understanding the activity of the participants in the market, and working out the highest probability outcome of this activity.

Knowing who is active in the market and when will enable you to trade the professional side of the market. All of my students are taught my strategies in a live market. Only there can I explain to you in real-time what is actually going on in the market and how to profit from that activity.

Many of my students are astounded by the way I predict the moves in the market in real-time with incredible accuracy. This is not just luck, it’s almost 20 years of hard work learning about the market and working out what is going to happen next with the highest probability. This is what you need to learn and this is what I teach you.

Ask yourself these questions.

How long do I want to be a struggling trader?
How long do I want to be losing money in the markets?
How long do I want to stare at the chart hoping that the move goes my way?
When will I be able to sleep easy in my bed knowing that I’m not about to blow another trading account?
Do I want to learn how to predict market moves with incredible accuracy?
Do I want to learn from a professional trader and mentor that has the skill experience and understanding to make my dream of becoming a full-time trader a reality?

If you can relate to any of the above then please contact me now for an informal chat about how I can help you become a successful trader.

Call UK 07939 42 7000 email rob@priceactionforextrading.co.uk Or Skype rob.taylor.trader

Why Its Virtually Impossible To Make Money As A Retail Trader.

June 4, 2017June 5, 2017Rob Taylor

I say virtually impossible. It is possible to make money as a retail trader but the odds are firmly stacked against you. The statistics show that only 5% of retail traders make money consistently, but in reality the chances of success are probably less than 3%.

So taking into account that only 3% of traders that start out on this journey, achieve consistent profitability, why do so many people still want to get involved in Forex trading.

Well i suppose its for the same reason that people play the lottery. I don’t play the lottery by the way. I have no desire to throw away my money on a 50 million to 1 shot.

But taking into account the odds of lottery success, Forex trading success is a much better option.

Financial freedom, working hours that suit, spending more time with friends and family, working from home, being your own boss. These are all reasons why people get involved in Forex trading.

All of these reasons are valid, and attainable as a Forex trader, but they come at a price. Nothing in life is free, but you get out what you put in.

Determination, desire, discipline, dedication, are qualities that you need to be successful, but without education the other qualities will not be enough for Forex trading success.

Why is it so hard to succeed as a retail trader?

Here are some reasons why retail traders fail to make it in this business.

Not enough capital.

This is something that causes a lot of traders to fail. Most retail traders are sold a dream, a dream that they can turn a 100 bucks into a million bucks, when in fact that really is not how trading works at all.

If you only have a 100 bucks to fund your account, just forget live trading, because you will only lose your 100 bucks. If you go down the same route as the majority of traders, then you will probably blow a min of 3 trading accounts before you get to any sort of consistent profitability. That’s if you are lucky.

Top tip: Divide your start up capital into 4 lots, and open your first account with a quarter of your start up capital. You then have enough money to fund 3 blown accounts, and still have something left to trade with.

Poor trading education.

If you have enough capital to fund 4 trading accounts then getting the correct education is a must to give you any real chance of success. Everyone thinks you can teach yourself how to trade by reading books, or watching trading videos on YouTube. Although you may be able to learn the basics this way, you can only be successful in the Forex business if you are educated by a professional trader.

This job is a lot harder than it looks, and paying a professional to teach you how to trade correctly is the only way in my opinion that you can move forward and get consistently profitable in your trading.

You want to make money in this business, and you want to be able to do it in as little time as possible. By trying to teach yourself to trade you are doing the complete opposite. You will lose money, and you will lose time. The only thing you will gain is stress.

Investing in a professional Forex training program will save you a lot of money, a lot of time, and a lot of stress.

Lack of discipline.

Discipline is something that a lot of traders struggle with. Fear and greed is one of the biggest reasons why traders fail. Having the knowledge needed to be successful will not be enough if you cannot control your discipline.
Warren Buffet is probably the best example of a trader that is 100% unaffected by fear and greed issues.
He is one of the richest guys in the world but he has not made his money by being greedy, or by being fearful. He has made his money be being clever, and very well informed.

Its a lot easier to control fear and greed issues if you have the correct education, but it can still cause traders problems.

I like to think of trading in the way you cross a busy road. If you have not been taught how to successfully cross the road, the chances of getting squashed by a bus are very high, but even when you know how to cross the road, there is still a temptation to go for a small gap in the traffic, and try to make it to the other side without waiting for the road to become clear so you can cross safely.

Trading is about waiting for the road to become clear, so you can trade safely.

False beliefs about the market and how it works.

Most of the education available to retail traders either online, in books, or in other training courses is poor to say the least. Some of it is bordering on madness to be honest, but traders still pay for, and dedicate time to learning this crap, and it will not help them one bit in their trading journey.

Some well respected Forex training providers have no idea how the market really works, and importing this knowledge into traders heads is leading to false beliefs about the market and how to trade it. These false beliefs will make it impossible for a trader to make money consistently.

But because the trader does not know that what he or she believes is false, they blame their failures on a lack of discipline, when in fact the problem is a lack of knowledge.

So whats the answer?

Well the answer is to hire a professional trader like myself to teach you how to trade. And if you think its too expensive to hire a professional trader, just think about how much it will cost you if you hire an amateur.

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

My New Forex Training course.

January 7, 2017April 7, 2018Rob Taylor

As 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 15 or 30-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 15 and the 30-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 🙂 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 it’s 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 £20,000 in the last 5 years to these crooks. He is now having to take out loans to pay for his healthcare because he’s 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. 😉

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

10.01.2017. Reviews can now been seen here

Do You Really Want To Be A Profitable Forex Trader?

May 28, 2016May 28, 2016Rob Taylor

Does that sound like a silly question? Its not. Its a perfectly reasonable question, but think about it a while before you answer it.

People get involved in this business for many reasons, but the main reason people get into this business is to make more money, and to have more free time. But the strange thing is, for the majority of people that trade the Forex market the reverse happens, they have less free time and less money.

Even for the majority of profitable traders, time spent in front of the screen in proportion to the money they make is not even minimum wage. Out of the 5% of traders that consistently make money from Forex trading, only about 10% of them actually make it to the point where they are making life changing amounts of money.

Why is this? The answer is simple, the driving force behind most peoples foray into the Forex business is money. They want to make money, and lots of it. So what is wrong with that you ask. Nothing at all. 20% of the worlds wealthiest people have made their money in the finance industry.

So whats the problem? Well the problem is you have to be good at your job if you want to make money, and the better you are at it, the more money you will make. You cant say i want to make more money next week than i made this week. That will only happen if you are a better trader next week than you are this week.

So now answer the question, do you want to make money, or do you want to be a great Forex trader. If you want to make money, forget about trading and contact me about my managed account service.

If you want to be a great trader then contact me about my Forex training course.

Is it possible to make life changing amounts of money from Forex trading?

Yes it is. But to make life changing money from the Forex business you have to be a great trader. Most people fail in this business because they want to make money, they don’t want to be great traders.

Any job that requires you to have a skill requires a period of training, an apprenticeship to be a tradesman lasts for 4 years, doctors, vets, solicitors study for much longer than that. So why do people think they can enter this business with no skill, and make lots of money very quickly.

Because its easy right? Forex trading is really easy, and anyone can do it, you just need to pay a few 100 dollars for a training course, set up an account with a broker, and you are on your way to your first million. In reality that will not happen, and for the majority of new traders making a million from trading is just a pipe dream.

Here’s a question for you. How do you walk away from this business after 12 months with a million pound in your account? You start with 10 million. 🙂

To be a great Forex trader you have to have, education, determination, discipline, and a skin as thick as a rhino. I have been in the trading business for many years, and there is nothing else i enjoy more than taking money out of the market, but the reason i can do that is because i am a great trader. I always wanted to be a trader, and i will always be a trader. Making money from the markets is a by product of being a great trader.

Most traders make money by pure luck rather than judgement. Think about this for a minute and this is 100% true. If you closed your eyes and randomly hit the buy or sell button, you would have more successful trades than the average retail Forex trader. I am not going to go into detail of why that is true, but it is.

A complete understanding of the market and the forces that drive price is the only thing that will make you a great trader, and consistent profitability will be within your reach. So if you do not have that understanding, and you feel that there is something missing from your trading methodology, then please feel free to contact me for an informal chat, about how i can help you become a great trader and take your trading to the next level.

Now answer the question again, do you really want to be a profitable Forex trader?

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

What Is The Best Time Frame To Trade When Forex Trading?

June 30, 2013January 10, 2020Rob Taylor

This is a question many new Forex traders ask, but the answer is not as simple as the question.

The best time frame to trade when Forex trading can be down to what each trader is comfortable with.

If you know how to trade Forex correctly you can trade any time frame, from the 1 minute chart, up to the monthly chart. My preferred time frame is the 15 minute chart, but a lot of price action Forex traders like to trade the higher time frame charts, 4 hour and daily mainly, and 1 hour occasionally.

There are pros and cons to every time time frame. For example, your stops and your profit targets will be much bigger on the higher time frames, and the trades will take longer to set up. You can sometimes wait a few days for a set up on a 4 hour time frame, but the same set up on a 5 min chart will come around many times throughout the day. The smaller time frames are more profitable in my opinion, as you can take more trades, and your stops are much tighter.

How reliable are the set ups on the smaller time frame charts?

The price action strategies i teach work on any time frame chart, but a lot of Forex traders only trade the higher time frame charts, as they think that the set ups are less reliable on the smaller time frames. This is a myth, if you are trading advanced price action, the way i teach you to trade, you can trade on any time frame, and the set ups are just as reliable.

The only thing you have to be aware of when trading the smaller time frame charts, is high impact news. If you are trading 4 hour and daily charts, then a news announcement will be less of a problem to a trade on that time frame, but on a 1 minute, or a 5 minute trade, you will more than likely get stopped out by a news announcement.

So if you are trading the lower time frame charts, do not trade them when news is imminent. I have an economic calendar on the home page of the site, which shows the latest news announcements for each country, and their potential impact on Forex prices. If you bookmark the page you can come back throughout the day to check on what news is coming up.

Can your price action training course teach me how to trade the smaller time frame charts.

Yes if that is what you want to do. My Forex training course will teach you how to trade any currency pair, on any time frame, at any time of the day or night.

Any professional Forex trader worth his salt should be able to trade any time frame. If you are paying good money for Forex training then you should get what you pay for.

All my students agree that what i teach, is worth far more than what i am charging for it, but i have to be realistic with my pricing. I try to make my training course affordable to the majority of successful people, that wish to learn Forex trading.

I am not really interested in teaching my stuff to the world. I am just looking for a select group of traders that can all trade together, and help each other achieve their trading goals. Forex trading is not an easy job, but if you have a good support network around you, you will do very well indeed.

So if you are serious about learning to trade Forex, and you wish to be part of my group of successful traders, please give me a call or drop me an email. I currently have 2 spots available for my one to one training and mentoring program. When they are sold out i will not be taking on any new students until August or September 2013 at the earliest. My Forex training course is sold on a first come first served basis.

Can You Make Money Day Trading Forex?

June 7, 2013January 10, 2020Rob Taylor

Can you make money day trading Forex?

This is a question that has a very simple answer as far as i am concerned. And its a big fat YES.

There are many well respected Forex traders that say the Forex markets are too volatile, and its impossible to make money consistently from day trading Forex, and you should trade the higher time frames, daily, weekly, and monthly charts, if you want to be successful.

What a load of rubbish. If you are a good trader you can trade any time frame from the 1 minute chart right up to up to the monthly.

People that say you cannot make money day trading Forex, don’t know how to trade, its as simple as that.

My preferred time frame is the 15 minute chart, but i can trade the 5 minute and the 1 minute chart very successfully. I can also trade h1, h4, and daily. I can basically trade anything, and anyone that tells you its not possible to trade the smaller time frames is just a poor trader.

Day trading Forex is what i do. I am a professional Forex day trader and i make 1000s of pips every month day trading the 15 minute time frame. Why do i trade the 15 minute time frame? because that is the most profitable time frame to trade.

Trading daily and weekly time frames? You must be crazy.

When you are trading daily and weekly time frames you have to wait so long for a set up, and your stop loss is so big, its just not worth the hassle to be honest. I take 2 to 3 high probability trades every day. I make my money, and i get on with my life. I am not going to wait for 2 weeks for a set up on the larger time frame chart, and have a 100 pip stop. Whats the point? If you are a great Forex trader, you should be able to trade any time frame.

Yes, but trading the smaller time frames is too stressful? Rubbish.

Some traders say trading the smaller time frames is too stressful. Yes it is if you do not know what you are doing, and you get into a trade and it goes 30 pips in the red. Yes i agree, that is very stressful, that is why my entries are very cleverly worked out in advance, and i enter the market with precision, so my trades go into profit very quickly, which takes the stress out of trading. A lot of my trades are over in less than 30 minutes. I get in, i take my pips, and i get out. That’s not stressful, that’s just great trading.

So yes you can make money day trading Forex, and anyone that tells you otherwise, just doesn’t know how to trade. For more information on how you can learn to day trade Forex, please consider my Forex trading course.

Stop Press. One of my students made 87 pips today off 2 trades, after just 5 weeks of training with me. Stop wasting your time with the 95%, and get into the 5%. Supercharge your trading, and change your life. 🙂

How To Make Money From Forex Trading.

March 5, 2013July 24, 2019Rob Taylor

How to make money from Forex trading.

That is a question that many new Forex traders ask. Now if you break the question down into 3 parts, the answer to the question is a lot easier than you think.

First lets look at the last part of the question. Forex trading. What is Forex trading? Answer. Forex Trading is the speculative trading of one currency against another.

Now lets look at the second part. Make money. To make money you have to invest money. If you invest 5 pounds and you get back 6 pounds, you have made money.

Now lets look at the first part of the question. How to. Now this is by far the most important part of the question, and it will give you the answer you are looking for. If you are asking “how to” do something, what exactly are you asking for? You are asking for knowledge. How to cross the road, how to bake a cake, how to drive a car. All of these skills require you to have the knowledge needed to complete the task.

So lets put all the parts of the question together. I am asking for knowledge, on how to get a return on my investment, in the speculative trading of one currency against another.

Now we know what we are actually asking, and what we are actually seeking, we can now ask the question again. How to make money from Forex trading. The answer to the question is knowledge. Knowledge of how the Forex market works, knowledge of currency pairs, knowledge of risk, knowledge of probability, knowledge of price action.

You have heard the saying knowledge is power right? Well knowledge when it comes to Forex trading is the ultimate power. Knowledge is a super power. Knowledge is success, knowledge is money, knowledge is freedom.

Knowledge is power.

If you want to be a successful Forex trader, and make money from Forex trading, you have to have knowledge. The more knowledge you have, the more successful you will be, the more money you will make, and the more freedom you will have to enjoy that money.

A lot of people tell me that they want to become professional Forex traders. They want to give up their current job, and they want Forex to be their new job. If this is you, ask yourself this question. If you saw an advert for a job as a Forex trader in the city of London would you apply for this job? The answer would probably be no. Why? because you don’t know how to trade. So if you do not have the knowledge and the required skill to get a job as a Forex trader in the city, what makes you think that you can give up your day job and become a full time Forex trader? Can you see the problem?

I am a professional Forex trader, and i can help you become a professional Forex trader, but its not going to happen overnight. To get to the stage where you can give up your job and become a full time Forex trader, you need to have the required knowledge and skill needed to enable you to apply for that job in the city.

Fore more information on how to make money from Forex trading please consider my Forex training course. I will give you all the training, knowledge, and skill needed, to enable you to give up your job, and become a professional Forex trader.

What Is Price Action Forex Trading?

January 24, 2013January 10, 2020Rob Taylor

What is price action Forex trading?

Many people ask me what is price action Forex trading. Price action Forex trading is a trading style that uses no indicators to determine movements in the Forex markets. One of the plus points of trading with price action is the fact that you have a plain uncluttered chart that is free from confusing indicators.

Many traders that use indicators can get bogged down with too much clutter on the charts which inhibits the view of the real thing that you need to focus on, and that is price. The majority of price action Forex traders, trade a clean chart, with maybe one or 2 moving averages on, and a few support and resistance lines. This is the way most professional Forex traders trade the markets, so it makes sense to do the same.

When you have an understanding of price action Forex trading you can predict with high probability what is going to happen next to price. This gives you an edge over Forex traders that use indicators, as generally by the time the indicator has given them a signal to enter a trade, the trade is already over.

Confluence.

Many traders look for confluence to give them a trading signal. Confluence (in case you have not heard of it before) is when multiple factors come together to give a signal to trade. For example if the price is coming up on a support or resistance line, and you also have a trend line that meets at the price point, that is an area of confluence. Now a lot of traders make the mistake of loading the chart with indicators in the belief that the more indicators you have, the more confluence you will have. This can work some of the time, but its not a reliable way to trade. I explain all about why this type of trading does not work in my Forex training course.

This is not confluence this is confusion.

You can see from the above chart the confusion caused by loading your chart with indicators. You don’t need indicators on your chart to be able to trade correctly. The only thing you need to look at is price. So now when someone asks you what is price action Forex trading you can now tell them. Its what you need to learn in order to be a successful Forex trader.