In less than one hour you can get an amazing amount of knowledge about mastering correlation. Navin from UrbanForex.com is a Great Guy who has years of experience in Forex and is happy to teach others how to be successful in Forex trading.
Right now, Navin is my favourite (yes that is Canadian spelling lol) Mentor because he has a unique teaching method and knows what he is doing.
Take a look at this video about mastering correlation in forex and it will help you to multiply your profits while decreasing your risk.
If this training is starting to become not so fun, make sure you set yourself up with a long term goal and then training hard in Forex, which would include learning and lots of doing. Along the way you are going to take a few hits in the form of getting stopped out but your win ratio will increase over time.
It might take a few months to get a decent win ratio...if you are able to learn a strategy such as Black Towers or Pivot points and be able to stick to exactly the strategy you will have a very good win ratio.
The challenge with getting into Forex trading is being able to handle your emotions and stick to the plan...and trust it.
Essentially you will be retraining your mind to react to things differently and essentially get the discipline to do research, follow a plan, make trades and then walk away for hours.... then come back to it hours later to see if it worked out or not.
There seems to be some sort of psychological thing were the initial temptation is to make a trade and sit and watch it until its done, but sitting and watching your trade for hours is not the way to go.
Many of the pros use computers to automatically make trades based on strategies...so they don't even need to be there when the trade is made or closed...basically the computer does the research because its all based on some history and what is happening in the current market in the moment.
The correct algo will have a higher win ratio than a human...because it simply makes decisions without distraction or emotion. So you have to train yourself to do the same thing.
As I get into Forex more and more I have learned the battle is inside. Do be able to read things properly and then execute properly. It is like training for a boxing match, you have to do a lot of preparing before the big event.
That takes us into today's motivational video... (its old school, but its good!)
Believe it or not, I just watched the Rocky training video and then jumped into the correlation video. And I made trades before writing this post, so this keeps me away from watching the trades until it is time to check, and I am also making a video about how to make your first $100 in Forex with absolutely no capital risk.
A few days ago I had my first $100 profit from one trade and a 100 % win ratio in 24 hours. So I am documenting my journey and sharing with others what I have learned with this blog.
It might take 6 months for this blog to get any real traction, but I am doing this just like Rocky is training for his big event.