This is an update to the first post of this thread on 1/14/09. This thread was started long ago when Forex Factory was a much smaller place. It was unusual at that time to see more than 20 people online at any given time. My how times have changed.
This thread has changed my life in many many ways and it has changed many others as well if my email inbox is any indication. This thread is about helping people learn to trade with a simple method BUT MORE IMPORTANTLY its about providing a kind and non-threatening place for beginners. There is literally an army of old timers here that, along with me, make sure of it.
The single biggest reason this thread continues to produce winners is it constantly pounds home that this is a business and must be treated as such. Your going to get to read about that in a minute but first i want to thank someone.
Forex Factory is what it is due to the vision and care of one person, my friend Merlin. Merlin no longer carries the torch here but he is a hero to me and i am truly blessed to know and call him my friend.
ok are you ready to read the truth? are you ready to face what no beginner to this business wants to read or hear? of course its just my opinion but it comes from 26 years of blood,sweat, tears and experience. thats all i really teach here anyway...experience. Follow it and join the multitudes here that are succesful traders or dont and go thru hell like most do in this business early on including myself for 8 grueling years.
To succeed in this business you need a sound method (notice i did not say system), common sense, discipline and a rock solid understanding that if you do not treat this as a business you have a ZERO CHANCE of long term success. 95 percent of new businesses fail even when the owner knows what they are doing. Do you really think this business is going to work for you after 3 months practice or less?
Whats interesting about this business is it affords the person that chooses to use common sense a way to learn it without losing a ton of money or any for that matter. Below is the outline i used 20 years ago to finally find some success and i have become almost mental about it. To this day any new method im testing or any refinement to existing methods goes thru the same process. Also remember this. small accounts could never keep me focused to be ultra picky about my entries and you will almost surely find the same thing. small accounts = over trading and YOU SIMPLY MUST LEARN TO BE PICKY ABOUT YOUR ENTRIES. Solution? Force yourself to be ultra picky (virtually impossible) or follow the plan below while your saving.
Before the plan i want those of you that are new or struggling to read one sentence from someone that has come before you. Just a regular person just like you. This person followed the plan, got involved and stuck with it for half a year. Here are his words and they should tell you something. There are no free lunches in this business. Give it your best here for 6 months and see if you can do the same.
"Words can't describe where my trading was 6 months ago compared to where it is now"
This thread has changed my life in many many ways and it has changed many others as well if my email inbox is any indication. This thread is about helping people learn to trade with a simple method BUT MORE IMPORTANTLY its about providing a kind and non-threatening place for beginners. There is literally an army of old timers here that, along with me, make sure of it.
The single biggest reason this thread continues to produce winners is it constantly pounds home that this is a business and must be treated as such. Your going to get to read about that in a minute but first i want to thank someone.
Forex Factory is what it is due to the vision and care of one person, my friend Merlin. Merlin no longer carries the torch here but he is a hero to me and i am truly blessed to know and call him my friend.
ok are you ready to read the truth? are you ready to face what no beginner to this business wants to read or hear? of course its just my opinion but it comes from 26 years of blood,sweat, tears and experience. thats all i really teach here anyway...experience. Follow it and join the multitudes here that are succesful traders or dont and go thru hell like most do in this business early on including myself for 8 grueling years.
To succeed in this business you need a sound method (notice i did not say system), common sense, discipline and a rock solid understanding that if you do not treat this as a business you have a ZERO CHANCE of long term success. 95 percent of new businesses fail even when the owner knows what they are doing. Do you really think this business is going to work for you after 3 months practice or less?
Whats interesting about this business is it affords the person that chooses to use common sense a way to learn it without losing a ton of money or any for that matter. Below is the outline i used 20 years ago to finally find some success and i have become almost mental about it. To this day any new method im testing or any refinement to existing methods goes thru the same process. Also remember this. small accounts could never keep me focused to be ultra picky about my entries and you will almost surely find the same thing. small accounts = over trading and YOU SIMPLY MUST LEARN TO BE PICKY ABOUT YOUR ENTRIES. Solution? Force yourself to be ultra picky (virtually impossible) or follow the plan below while your saving.
Before the plan i want those of you that are new or struggling to read one sentence from someone that has come before you. Just a regular person just like you. This person followed the plan, got involved and stuck with it for half a year. Here are his words and they should tell you something. There are no free lunches in this business. Give it your best here for 6 months and see if you can do the same.
"Words can't describe where my trading was 6 months ago compared to where it is now"
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