Have you ever said the following?
-
The market knows if I'm long or short.
-
The market knows where my stop is.
-
The market knows when I enter and reverses.
-
The market knows my maximum pain point.
Yes, to all of them. Right?
But instead of feeling sapped of confidence and maybe saying:
*@#$%! What sort of loser am I?"
Guess who else says it?
Answer: Everyone
Really? Yes!
Well then. Phew! That's right. Phew!
Because you now realise:
-
You're not tainted.
-
You're not broken.
-
There's nothing wrong with you.
And if it's not you... There's light at the end of the tunnel. Make sense?
And it's the most empowering realisation you'll ever encounter in trading. Tell you why in a minute:
A twisted irony
You know pokie machines feature sophisticated programming preying on human behaviour. And while for some, it's an addictive path to ruin; you also know you'll never fall for such devious ploys. Agree?
Now imagine you've never placed a trade.
And someone says the market will lure you into:
-
Entering at precisely the wrong moment.
-
Placing your stop at the exact bottom/top of the market.
-
Reaching for your maximum pain point so you exit.
You'd say:
"No way! "That'll never happen to me."
But wait...
You now know differently.
So as twisted as it might seem:
It takes firsthand experience to appreciate the counter-intuitive and predatory nature of markets.
And the same goes for the traders who've gone on to achieve mind-boggling success.
Take Michael Marcus, who turned $1400 into $80 million over his trading career. Only after experiencing several traumatic account blowouts did he accept this reality - turning to external mentorship (Ed Seykota) to gain the insider knowledge instrumental in building his phenomenal career.
And I use the word 'insider' because it's not widely understood. You won't find it via a Google search, for example. Agree?
But the good news is it's available via the proper channels. Whether that's:
1. Applying for an internship at a professional trading firm, or
2. Seeking a professional trading curriculum built on professional trading firm expertise.
For example:
Can you see the first 6 expertise fields in a professional trading curriculum (available to independent traders) below cover how the market lures traders into actingwithout knowing it's happening?
Why's it important?
If you've been trading markets for any reasonable period, you've worked out there are two distinct groups of people in the market.
Group one:
• Market makers, proprietary trading firms, hedge funds.
Goup two:
• the majority including => had some success but it didn't last - still need to reach consistency - not making money.
And instinctively, you've concluded that the money flows from group 2 to group 1 with palpable regularity. Agree?
So wouldn't you love to know how that mouse trap works? Of course! Because knowing how it works is equivalent to owning the goose that lays the golden egg. Make sense?
Hence why it's important.
And guess what? When you narrow down external training/guidance/mentoring to including must-have 'insider' expertise; you'll find options limited making your decision an easy one.
Forex and derivatives trading is a highly competitive and often extremely fast-paced environment. It only rewards individuals who attain the required level of skill and expertise to compete. Past performance is not indicative of future results. There is a substantial risk of loss to unskilled and inexperienced players. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
Discover how to make money in forex is easy if you know how the bankers trade!
5 Forex News Events You Need To Know
In the fast moving world of currency markets, it is extremely important for new traders to know the list of important forex news...
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and...
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.