Your Success Model for Trading

Let's get real

Many new traders enter the world of trading with the lure of easy money. All you need is an internet connection and a platform to place a trade. This allows you to play ball with the big boys.

You are scammers bait!

A new trader is easily attracted to the results that Facebook group participants set as bait. The bait is to get you to part with your money. If you cannot identify the scammers from the genuine play makers, chances are that you will never make it in the trading environment.

If you want to know more about the home truths, have a look at my E book. I wrote it to send the readers a very clear message. That message is, "This is all on you". No room to blame or ask those around you to take on your responsibility. What is your responsibility? 

Fx Trading Ebook

FREE Ebook!

Your Responsibility

Relying on signals to buy and sell, taking the trading advice from others and asking silly questions like, "Should I buy or sell today" means you are not ready to trade live.

Your responsibility is to develop and structure your learning path. Trading the markets with success is a massive undertaking, and therefore people are looking for quick, easy solutions. This is the world we live in, it is the here and now. 

As per any worthwhile endeavour, there will be those waiting with open arms to cash in on the opportunity. They will show you the easy way. Yet with trading there is no "easy way", it takes time for ​your own personal trading model to fully develop

Your Personal Trading Model

What is your personal trading model? This will take time for you to discover. The part that traders do not want to hear is that after two years of dabbling and trying different trading approaches, you will be ready to start your personal trading model. After a few years of experimenting and following certain online gurus, you have come full circle. There are many positives to pull out of the various experiences that you have obtained. If you have been able to survive a few years without giving up, you are more than likely able to turn your focus to success.

Your personal trading model will always evolve as you engage with new trading experiences. See trading as a personal development platform rather than a moneymaking venture. From growth comes reason and from reason comes responsibility.

Three Pillars For Trading Success

Understand the market - Your development as a trader must involve you learning the functions of the market. This does not have to be at a level of an economist, keep in mind we are traders and economists are not. You need to understand what is driving the markets. To do this you need to read quality articles and opinions. Most importantly you should not take the information as gospel but simply park it in the back of your mind, no different compared to tomorrow's weather report. it is simply information that you are aware of. To help you with this, we post a daily Insights newsletter as well as daily videos to help to develop traders to understand the market

Take the time to observe the market reactions to certain news events. You are trying to create a feel for the market and this comes by spending time with the market. I explain this in much greater depth within our "Mastering EURUSD course".

Understand Price - Price is the most up-to-date indicator you will find. Price is a leading indicator and not lagging as per every other indicator on your charting software. Over time you will build a relationship with price and your chosen currency pairs. Try not to spread your energies far and wide. Focus on just a few pairs and over time you will spread your new skill sets out to other pairs.

The study of price will give you a huge advantage to become a successful trader. Most traders never look back after they have developed an understanding of price; it makes no sense to change to lagging indicators.

Once more, it will take time to understand the workings of price. Once you have combined your understanding of the market and price, you will have a feeling of completion.

Price is king.

Understand Yourself  -  Without the completion of understanding yourself, all the other work you have applied will become wasted. Understanding yourself allows you to work on your inner personalities. The hierarchy that does your trading for you. This will expose many of your inner demons that play out whilst trading. The need for attention, winning, to be right, greed, fear of missing out, importance and many more personalities that do your trading for you.

Trading will expose these trading issues. These are personalities that serve you well in the real world; however they are your very downfall when trading.

From where I sit, it is relatively easy to pick up on the various hierarchy issues that stand in the way of trading. If a student shows me just a few trades (win or lose), it is easy to identify the core of the situation. We can then start to make changes to your advantage.

Course on computer screen

Learn better trading practices!

Discipline and Self Development

Every form of freedom in your life is purchased with the price of discipline. If you want freedom, you need discipline. If you want to be a successful trader, you need to apply consistent discipline. Discipline can be painful; however it is rewarding.

A trader will need to apply discipline and have excellent trade selection. If you jump in and out of every opportunity, you will end up in trades that you have no business being in. It is much better to display discipline with your trade selection and avoid the pain of jumping into undesired trades. 

As a trader,  you will have the minimum requirements to be successful. Do not waste the opportunity. Work hard.

That is not all

We have given you the three principles to a successful trading model. Each of these will get broken down into deeper components. 

Your equity management protocol needs to be outlined. You will need discipline to apply this. Your development needs to undertake psychological challenges. These issues that you will discover within your trading will need to be addressed and managed. keep in mind we are emotional beings and we are not trying to change that; however, we want to find tools to manage the emotions.

Serious about trading?

If you are serious about your development as a trader, we invite you to have a look at the FREE resources we offer at our website.

The knowledge center on the website will give you access to quality information. The daily insights will break down price action and the drivers of the market for the upcoming trading session.

Happy Trading, Steve.

Online Ebook Mastering Fx Trading