forex training course

Do You Really Want To Be A Profitable Forex Trader?

Rob 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.

improve your trading resultsWhy 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.

new life

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. 🙂

How Professional Forex Traders Trade The Markets.

Rob Taylor

Professional Forex Traders Verses Retail Forex traders.

There are many participants active in the Forex market but to keep things simple i like to split the players into 2 groups. Retail traders and professional traders.

Everyone starts off as a retail trader, but only a very small percentage actually have the skills and the determination required to make the transition from the retail side of the business to the professional side.

How To Become A Professional Forex Trader.

Becoming a professional trader has nothing to do with how many years you have been trading for. Some of my students were trading for over 10 years as retail traders.

Becoming a professional trader has nothing to do with your attitude, or your approach to trading. It also has nothing to do with whether you are trading full time or part time.

There are only 2 things that set professional traders apart from retail traders. Knowledge and consistent profitability. But you cannot have consistent profitability if you do not have knowledge.

Why Retail Traders Lose Money.

Why Retail Traders Lose MoneyThere are many reasons why retail traders lose money, but the main reason is a lack of understanding of how the Forex market actually works.

Now this is a real big problem for retail Forex traders. The reason its such a big problem is that many retail Forex traders believe that they understand how the Forex market works.

Retail traders believe that they know how to read a chart. So if you don’t know that what you are doing is incorrect, and you think that your understanding of the market is correct, why would you change what you are doing?

When a new student has their first lesson with me, they are totally blown away by what i have to say. Traders are so convinced that they know how to trade the Forex market, that it comes as a real shock to them when i show them what they have been doing wrong.

Only when i have educated retail traders to see the market how professional traders see it, can they move forward on their road to profitability .

Why Are So Many Retail Traders Doing It Wrong.

Its a fact that 95% of retail traders lose money. By losing money i mean not being consistently profitable. Everyone makes money from time to time, but making money long term is what counts.

The reason why retail traders are doing it wrong is very simple, its because they have been taught to do it wrong by other people that are also doing it wrong. The so called training providers that are teaching people how to trade, do not know how to trade themselves, and because they do not know they are doing it wrong, how are they going to change what they teach?

So as you can see its a vicious circle of incompetence that breeds more incompetence.

So Whats The Answer?

The answer is to pay a professional Forex trader to teach you how to trade. If you pay for a retail Forex training course, you will only learn how to trade like a retail trader, if you pay for a professional Forex training course you will learn how to trade like a professional trader.

You would not pay a plumber to teach you how to become an electrician would you? Its simple, find a professional trader such as myself, and pay them to teach you how to trade, it will save you years of heartache and lots of money.

How Professional Forex Traders Trade The Markets.

Now i don’t often give away anything for free, i charge a lot of money for my knowledge, and what i teach is worth 10 times what i charge for it, but i am going to give you a little insight into the way a professional Forex trader trades.

I have many strategies that i use every day to make money from the market, all of which i teach in my Forex training course, but to be successful one thing that you have to understand is the intrinsic value in what you are buying or selling.

We are in the buying and selling business, and any business that involves buying and selling has one underlying principle, that if applied correctly, will enable you to make money in any buying and selling business. And that principle is “its not the price you sell it for that makes you money, its the price you buy it for”. If you buy it cheap enough, you can always sell it for a profit.

How Professional Forex Traders Trade The MarketsLet me give you an example. You are chatting to the guy next door and he tells you he’s got a few financial problems and he needs to get some quick cash.

He wants to sell his 2 year old Mercedes, and wants to know if you are interested in buying it. So you ask him how much he wants to sell it for. He says £35,000, but he needs to know right now if you want to buy it or not.

You cannot have any time to go online and check out the model, the mileage the condition etc to get a value on it. So you say “i don’t know if that’s a good deal or not, so i am going to have to say no thank you”.

The next day you see the guy again, and he says look mate i really need to sell this car today, i will let you have it for £25,000, but i need the money today. You have still not checked out the price of the car online, but you are getting it for £10,000 less than he was offering it to you yesterday, so you agree to buy it, as you think it must be cheap now, as its 10k less than yesterday.

So you give him the money and take the car. You then go online to check out the price, and see that they are selling the same car with the same mileage in the same condition in your local garage for £23,000. Now based on the fact that the local garage will probably have a 2k mark up on a car like that, the true value is probably around £20,000 for a quick sale. So you have just lost £5000 in the blink of an eye.

Now why did you lose your money? You lost your money because you bought something that looked cheap, but as you did not know the true intrinsic value of it, turned out to be expensive.

So there are 2 lessons to be learned from that example. Just because it looks cheap, does not mean it is cheap, and knowing the true value of what you are buying before you buy it will make you money. As i said its not the price you sell it for that makes you money, its the price you buy it for.

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

How To Be A Sucessful Forex Trader Using Market Logic.

Rob Taylor

In order to be a successful Forex trader you have to keep it simple. I have many profitable strategies that i use to make money from trading, but they are all based around simple market logic.

So what is market logic?

To understand market logic you have to understand the major forces that drive the market. What makes prices move up and down?

Most traders think that buyers and sellers move the market up and down. Now although that is true its not the only factor that drives price.

Other factors that influence price.

Think about this. When you enter a trade you buy or sell the market at a specific price. Now whether that trade is successful or not, you will have to exit that trade at some point in the future.

So say you buy the market, and set a take profit and a stop loss. Now in order for you to exit that trade, whether in profit or loss, your buy order will have to sell the market at some point to close out your position. So just by closing your trade you are influencing price.

The power of the majority.

If everyone is selling the market, why would you want to buy it? If everyone is buying the market why would you want to sell it?

This is a mistake that a lot of retail traders make. They try to catch tops and bottoms. I have done this myself when i first started out. How many times have you seen prices going down, and thought its going to reverse here, this is the bottom. So you pile in, only to see it go further down, and you think why is it going down, and down and down?

Well think about it logically. You buy at what you think is the bottom, and a few 100 others do the same, because lets face it, its not only going to be you that thinks its the bottom, there will be 1000s of other retail traders that think the same thing, who will also be buying at various levels.

So if all of these retail traders are buying, why is it still going down. Because the majority are still selling, and your buy orders are adding to that selling pressure.

How can buy orders add to selling pressure?

Well think about the other factors that influence price. Buy orders are seen as positive by the majority of traders, but when you have a strong downtrend they are negative. They are fuel for the fire of the downtrend. Why? because those buy orders are closed out with sell orders.

So as uninformed retail trades are trying to catch tops and bottoms, their stop losses are adding strength to the move, as those buy orders close as sell orders. Even if some traders do manage to catch a temporary bottom, when they close the trade for a small profit, their sell orders will send prices down again.

Major reversals in the market.

So if what im saying is true, and it is, what makes the market reverse, if its not buyers? Well if its not buyers that make the market reverse, it must be sellers right? Yes, but not just sellers. There are 3 main factors that will make the market reverse from a strong downtrend, or a strong uptrend. Buyers, sellers, and profit takers.

In this case we will work with the downtrend. As we have already established by trading against the majority you will lose your money.

The picture below shows how buyers, sellers, and profit takers affect the market.

Market Logic

In order to avoid losing money in the market, you always have to be on the correct side of the move, and trade with the majority. Following the trend is not always the answer though, as you can see how the buyers and sellers in that downtrend got smoked by entering at the wrong time. You have to enter and exit the market at key reversal levels in order to be successful.

My Forex training course will show you how to enter and exit the maket safely, and how to trade alongside the professionals.

If you enjoyed this article, and you think it would benefit other traders, please like it on Facebook, share it on Twitter, or bookmark it using the buttons below. Thanks for visiting and have a great day.

High Probability Reversal Patterns.

Rob Taylor

One of the keys to success in the Forex business, is having the ability to identify high probability reversal patterns on the chart.

There are many reversal patterns that present themselves on the chart every day, but not all of them are high probability. I am going to talk about some of the better patterns and how you can use them in your trading.

The Engulfing Candle.

engulfing candleAn engulfing candle or outside bar as its sometimes called, represents a complete change in trader sentiment. The way an engulfing candle forms is probably one of the biggest clues that a reversal or a potential reversal is on the cards.

Engulfing candles often form at the end of a trend and can be great reversal signals. The logic behind the engulfing candle is very powerful indeed, and the candle will change bulls into bears and bears into bulls in a very short space of time.

An engulfing candle is a very basic price action set up, but works very well at key reversal levels in the market. For more information on how to trade engulfing candles click here.

The Inside Bar.

inside barAn inside bar is basically a candle that forms inside another candle. Inside bars represent indecision in the market, and can be good indications of a potential reversal. They are not as powerful as engulfing candles, but when traded at good levels, they can produce a successful trade.

Inside bars can also produce a nice breakout trade. Breakouts work best when you have a multiple inside bar set up. A multiple inside bar set up can sometimes be called a flag, or a pennant. Multiple inside bar set ups will produce a much stronger breakout trade than a one bar set up, purely because the volume of orders in the market will be much larger, and as the price breaks out, and the stops are hit the move will be more powerful.

For more information on how to trade inside bars click here.

The Head And Shoulders Pattern.

The head and shouldlers, or inverse head and shoulders pattern, is also a very good reversal pattern and you will often find them at the end of trends, and at major turning points in the market. The head and shoulders pattern can be a very profitable pattern if you know how to trade it correctly.

Below is a picture of a head and shoulders pattern. You can also see that the right shoulder is made up of an engulfing candle, which makes the set up even stronger.head and shoulders

This set up works well when the left shoulder and the right shoulder are at the same level, but this does not always have to be the case for a head and shoulders reversal to work, but the head always has to be above the left and the right shoulder.

These are just some basic price action reversal patterns that you can use to help you in your trading. If you want to learn more advanced high probability reversal patterns please consider my Forex training course.

How To Make Money With Swing Trading.

Rob Taylor

Swing trading is a popular methodology used by many professional Forex traders, that can produce some very nice profitable trades.

To be able to consistently make money with swing trading strategies, you first have to understand what swing trading is, and how to identify a swing from which to trade.

What is swing trading?

Swing trading is identifying potential swing highs and swing lows within a market, sometimes called major reversal levels, and entering as close to the perceived high or the low of the swing as possible, and trading all the way up or down to the next major reversal level, or swing high or low.

Swing trading differs from day trading in the length of time a trade is held for. Typically swing traders can hold their trades for up to a week, whereas day traders are generally in and out of the market the same day.

I am primarily a day trader, as i like to enter a trade, make my pips, and look for another opportunity. I don’t like to have money in the market overnight, as the longer you are in a trade the more your money is at risk. And i don’t like taking risks, and i also like to get a good nights sleep. 🙂

How to identify swings.

The chart below shows major reversal points in the market, or swings from which you can trade.
Swing Trading

Now its really easy to identify swings on a chart after they have happened, but how do you know that a level in the market is a major reversal level, or swing, before its happened?
How can you enter long or short at a particular level, with the knowledge that there is a high probability that it will be a major swing high or low?

I am not going to go into detail here about how identify major reversal levels in the market, but it is covered in detail in my Forex training course. But another way that you can potentially get into a swing trade is to look at supply and demand areas on a chart, and buy an sell at those levels.

For more on how to identify supply and demand levels in the market please click here.

What i teach in my Forex training course will show you how to make money from swing trading by identifying major reversal levels in the market, and enable you to day trade or swing trade them for them for big profits. For more information on my Forex training course click here.