Yes, a strange statement I know but Forex trading is not about making money.
When I get an inquiry email from a prospective student, I often get asked how much money I can make by taking your course. It’s a question I hate to hear and it makes me think about all these kids hiring Lamborghinis for the day and flashing fake cash around like they are making fortunes from trading.
Now I agree that trading can be very lucrative and it gives me a very nice lifestyle but it’s not about making money it’s about being a great trader. Making money is a by-product of being a great trader and that is what I teach people to become, great traders.
I have lots of statements and videos on this site that show prospective students the money that can be made from trading but I like to think of myself first and foremost as a great trader and I try to steer students away from the goal of making money and to concentrate on being a great trader and making pips rather than money.
The idea behind making pips rather than money is accountability and scaling. If you can consistently make a 100 pips per week that can be scaled up to whatever monetary value you desire. 100 pips per week at a pound a pip will give you 100 pounds per week. Scale that up to a 100-pound a pip and that’s 10 grand per week.
My students are consistently making in excess of 100 pips per week but scaling is where you make the big money.
Below is a recent comment from one of my students and the importance of focusing on pips rather than making money.
Tomas, 14:34
Hi Rob. Last week was +228 pips, this week I’m finishing with +562 pips. :O The last 11 trading days were all profitable. Your hard work teaching me to trade is starting to bear the fruits. So grateful to you!
