This a saying that stuck in my head for a long time, actually there are quite a few of them. This one though is relatively simple yet extremely effective.
The saying comes from the medical field where the method for teaching doctors is to Learn, Do then Teach.
So as I am learning Forex, I am sharing what I have learned and doing by actual trading based on what I have learned. At the same time I am also combining some teaching into it all by making videos of the process I went through so that you can do the same thing as well.
To start off...already I have learned an amazing lesson in life. Even though a person can have $0 they can actually make $100 in one day with Forex. The challenge in this whole process is that getting into an industry involves sorting through a lot of marketing crap that will actually have no positive effect on your life and consume your time that you could be using to trade an make money.
In order to save a lot of people a lot of time, having a fast track system where someone has already done all the research and found the most effective and efficient way to learn Forex has a huge value all by itself.
To make this even more clear, I will use an example... myself. I have easily spend over 100 hours watching training videos on charts and trading and the psychology of trading. As I went through it all I started to realize that a lot of these videos where just showing one strategy that takes about 3 minutes to teach, however they were turning it into an hour long video. So really, the 100 hours I spent on training videos was really only worth 3 % which is 3 hours.
Using trading mentality to look at that proposition it is like taking a trade with a reward of 3 and a loss of 97.
Essentially I feel and know that I could have learned what I needed to know if 3 hours and saved myself 97 hours of time. Which I could have spent trading and made 10% an hour so I could have made 970% and even on a $100 investment that means I missed out on $970.
This blog is turning into more of a resource where I start to shed the wasted time spent on non sense and show you that all that is needed to get you started in one trading strategy that is quick and easy to learn and gives a 99% return on investment.
Using one strategy alone is enough to deliver results for anyone to go from $0 to $100 in one day and even $0 to $2000 in one month.
The biggest thing that will get in peoples way is simply not following the strategy and this can actually be harder that you think. When you are making live trades there is going to be a lot of thoughts and emotions going through your head while the trade is active.
So, being as there is ways to limit the risk of loss in trading, the risk is the human reaction to trading and the hardest thing to do is get people to retrain themselves to be able to handle these types of situations.
This is where the saying has a very real and huge application:
Give a Man a Fish, and You Feed Him for a Day.Teach a Man To Fish, and You Feed Him for a Lifetime.
So here I want to give you one fish (to feed you for a day) and also teach you to fish so you are fed for a lifetime.
Get the tools
Get your first fish... sign up for a free no deposit bonus of $100 from ForexChief. With this bonus you can not withdraw the $100 given to you, however you can withdraw $100 of profit made from the bonus.
To say this again, you can now make $100 profit in your pocket, today, as long as you have successful trades.
Learn a simple trading strategy that wins.
The strategy to use is called Pro Strategy or Pivot Points.
Read this article, watch this video, learn the strategy and then get ready to apply it immediately after.
Get a $3500 no deposit bonus from InstaForex to use as your practice money. The deal is this simple, use 50 to 1 leverage and bet a max lot size of 0.01.
You goal here is to get used to the system and the numbers and how they work for later using on a $100 account that you can take profits with.
As long as you follow the strategy exactly as it is taught you are going to have wins. Once you have it down, go to your Forexchief account and start trading with the $100 bonus.
The trick here is to keep your max lot size at 0.01 and the leverage at 1 to 100. This allows you to make smaller amounts initially but also take smaller losses (just in case). Once you have the trading strategy down pat increase your leverage up to 200, then 300, then 400.
I am actually going to say here that once you have the strategy mastered and you are looking at this trade as an experiment because you are not risking your own capital then using the 400 leverage is good. However, when you are risking your own capital, have a small leverage amount is wise.
So putting all that side the steps for all of this are really simple and I even decided to take a step out of it to make it more stream lined.
Sign up for the no deposit bonus
Set your leverage to 1:10 in forexchief
Watch the training video and study the checklist
Execute trades at 0.01 lot size
After having a success rate of 5 straight wins, increase your leverage to 100
Then 5 more straight wins, increase your level to 200
Then 5 more straight wins, increase your leverage to 400.
Keep making trades following the strategy exactly.
The strategy works, getting someone to follow the strategy is the hard part. And you getting yourself to follow the strategy exactly is your only challenge here.
When it comes to mentoring or teaching someone Forex this is what the mentor will focus on (and it applies to everything you do in life).