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Real Truth About Forex Trading Most Gurus Don’t Want You To Know

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Real Truth About Forex Trading Most Gurus Don’t Want You To Know

hey hey what’s up my friend so in today’s episode right you will discover the true friend about trading most gurus don’t want you to know because it’s it’s bad for business right so let me share with you a few truths about trading then you might not be aware number one trading is not a get-rich-quick scheme it is a get rich slow scheme let me repeat right trading is a get rich slow scheme and why do I say that because if you understand right the teachings from some of the smartest the richest people in this world like for example warren buffett here’s what is here is it my wealth has come from a combination of living in america some lucky genes and compound interests what’s he trying to say he said yes he’s lucky to be born in america and in this day and age but compound interest right plays a huge pan right to where he is right now because his returns has compound over like what over the last 50 years at 20% a year that’s where he made his billions by compounding how about Albert Einstein he said that compound interest is the eighth wonder of the world he who understands it and he who doesn’t pays it you know one of the smartest guy in the world again talking about compound interest and the thing about compound interest is it takes time you can’t compound your returns right over week over money it will be nothing significant but when you compound it over years over the decades that is where the magic happens so that’s a fundamental truth about trading it is it’s a get rich slow skin if you wanna make serious money in trading it’s a garish slow scheme if you’re looking at this as a garish quick scheme then guess what you are the scheme okay so that’s a first truth second one in trading you need money to make money in trading you can you know expect to make money or serious money with a thousand dollars account or five thousand dollars account yes you can you know double it triple it but there’s a huge crease you’re going to lose everything and more and again this kind of brings you back the earlier to compound interest when you compound your account that’s where your money gets larger and larger let’s say you do 20% a year on a thousand dollars account that’s like 200 bucks but if you have a million account that 20% is not worth two hundred thousand and when you keep compounding your returns right in your trading account gets larger and larger that’s where your reasons gets larger and larger and this is why the second point I see is that you need money to make money in treating okay there is no shortcuts there is no a special leverage you know one to five hundred one to one thousand right where you can make and a huge amount of money quickly yes you can but you will have a high risk of losing it all as well number three right even if you’ve made it as a profitable trader you are still working on your game consistently I can guarantee you this year I’m the best traders are there or other traders who are consistently profitable they are not satisfied with the status code they wouldn’t just you know remain stagnant the way it is they are always constantly researching right refining their age learning new trading strategies that they can add um right to complement their existing strategies they’re always constantly trying to you know improve the mental strength to create a larger account all this all going on behind the scenes and there’s always work to do even though you’re already a consistently profitable trader right you won’t just you know oh let’s go by the beach you know let’s see some pina colada all right let’s see no go you know surfing you know let trip by the laptop by the pool and all life is good no that’s uh that’s really not how professional traders do it if you are serious in this business right the learning continues the research continues yes you have time to relax to enjoy right but you’re still in this trading business right your heart and soul is still 100% in it right there is no you know oh I’ve made it let me go and enjoy and you know trading is just a passive thing now it’s a passive income there’s nothing passive about trading it’s very active not physically where you’re doing your lifting with and stuff like that in terms of the mindset it’s very active and number four in training right whether is it stop trading forex trading options trading futures trading there is no guarantee in trading no one can guarantee that you will be a profitable trader after one year no one can guarantee that after taking XYZ cause you can make money within the late six months no one absolutely no one no matter how good the track record is let me share with you an example all right back in my prop trading days I would say this is about 2007-2008 era most of the prop traders back then in my industry they were trained in any key futures and Nikkei futures is traded across four different exchanges you know Singapore Exchange and the Osaka exchange anyone on a CM e right and there’s a be tragic opportunities because when there are four different contracts being traded right yeah value must be the same right if not there is opportunity to arbitrage and in those days and hid l go isn’t as fast back then so human can pretty much you know I’ll be trashed and make a contract we can buy low sell high buy low sell high and make you know six figure seven figures a year and many of them think that you know this would go on forever and they spend money like you know drinking water i you know to just go out to a bar for one night you know five he goes bill that’s it at the bar next day could take a break to trade because where we were and writing a trading okay below is just a slew of bars all over there and here’s the thing right after one or two years this age slowly got eroded by trading elbows the high-frequency traders this age is no more meaning the inefficiencies in the in the K market started to deteriorate and today if you ask me right those traders that used to make six-figure several figures ninety nine percent of them they are no longer around some of them are driving cap some of them have either trade a different methodology or move on altogether right so there’s really no guarantee in trading no matter how much money if me how confident you think you are you know there’s no guarantee right and that’s the truth about it you have to constantly work at your game to adapt to the times improve your trading learn new trading methodologies strategies and techniques right so that this way when one strategy is not working or stop working for a period of time you have something else to compliment right your portfolio right so this way you don’t just be laying one strategy but you have multi pull strategy so I did you can train at any one time and that you know improves your your equity curve it’s smooth and it up over the long run and finally right the last thing I want to talk about is it how do you actually quicken this process how do you quickly go from you know breakeven or losing trader to becoming a profitable trader okay so here’s the truth the truth is there’s no shortcut right so by there are few things that you can do number one embrace compounding this is something that many retail traders just don’t believe in they just want it first they wanted by this weekend this month over the next three months they want results up just like that but guess what if you want fast results you probably get no results embrace compounding right some of the smartest people in the world reaches one they tell you ready the secret is compounding compound interests embrace it if you want something fast if you are in oh one thing to have instant gratification then really trading is probably the wrong and Evo is definitely the wrong and evil for you right so embrace compound interest embrace compounding and compounding doesn’t mean just in terms of money could be compounding in terms of your fitness it can be compounding in terms of gaining new knowledge imagine if you just know you gain 1% new knowledge each day area of the year how much would you have learnt if you just do 10 push-ups and they at the end of the year how many pushups would you have done how much different your body on me so compounding is not just about money it’s about everything around you right your work attitude your mindset your fitness everything second thing you can do is add Funds regularly to your trading account okay as I mentioned earlier the more money you manage the more money you trade the more money you can make so you know if you are working at a full-time job you have certain savings right and you’re confident of your trading ability add funds to your trading account over time maybe every once a year twice a year whenever you deem fit right if you add funds to your account regularly over time you can you know treat more money and make more money and finally the last thing is this one here don’t reinvent don’t reinvent the wheel especially when you are new to trading especially when you don’t have an itch yet right just follow what’s been proven already from you know practitioners from people who have you know done academic research like you know for example stop trading right momentum is a phenomenon that clearly works in the stock markets why do you wanna fight against just follow it trade with momentum okay and train following right it is proven to work right writing trends across two different markets whether it’s a Forex futures etc is proven to learn it don’t reinvent the wheel once you have consistent profitability once you have rich competency then yes you can start tweaking and reinventing the wheel but when you are still understand right take something that’s really proven to work and get to that stage making work for yourself from then on then you can tweak and improve on things but don’t try to reinvent the wheel from the start it will only hamper your own learning curve you will only know take your longer right to get the results that you want okay so well that’s it I hope you know you got value out of it I wish you good luck and good trading I will talk – usin you

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