The Six
Step Action Plan to Forex Trading SuccessHere is the basic plan. This plan is to
be attacked now, with your full vigor although it will take time to
fully mature. The more momentum you can build now through
aggressive action the more likely it will be for you to become a Forex
Trading Master – one who can pull out at least six figure incomes in a
year, every year.
1. Extract – from the “depths of your heart and
soul” a trading
dream… Figure this out : If
you could accomplish anything, anything at
all in trading what would you want? Most importantly:
Exactly How Much
Money Do You Want to Make From Trading?
2. Educate – learn, learn the fundamentals of
Forex price
movements, learn systems, find a style that you like. You’ll
notice our
“4
Step Quick Start Rapid Education Plan” later on this page or
you may
have noticed it before this page. Find, purchase, obtain as
much
Forex trading information that you can get a hold of and aggressively
study and ingest the materials. Do not leave any gaps in your learning.
Build step by step. Then one day it is going to all come together for
you.
3. Emulate – find someone successful or some
successful system you
can copy, model, emulate. Obtain courses, books on successful
Forex traders.
Buy their systems. Absorb the essence of who they are and
what they do.
Do the same thing and you will eventually develop your own style.
Understand that there are role models
that extract six figures plus for a living
on the Forex Market that you can emulate. There are also
software systems
and automated Forex trading systems that could help you achieve your
goals
but you must test and always use fractional, solid money
management.
4. Execute on White Paper (Demo account trading,
“Paper Trading”). True
paper trading is powerful. You can’t learn to trade a system
any faster
vs. paper trading. Only through paper trading can you learn
to make a
habit of correct trading while getting your reactions down
perfectly.
But as soon as you introduce real money, powerful emotions
come
into play that immediately stifles your ability to learn and make
the
correct trading decisions, then you form bad habits.
Your focus must be on “correct trading”. (But of course
you’ll need to
learn from steps 2. and 3. what correct trading actually is.)
5. Execute your trading plan with Small
Money. Yes… trade painfully
small until you’ve proven to your self you are rock solid
trader. If you
blow it at this point by trading too big, you could form some
really
bad habits, really quickly. Also just never lose
control of your position sizing.
You’ll actually feel it when your position sizing is too big because
you’ll feel
out of control, nervous and worried. Just bring your position
size back down
to where you are not afraid or worried anymore and you’ll be able
to
execute correctly. The fastest way to get anywhere in trading
is to
take your time doing it well.
6. Execute a professional money management system
to start growing your
account at an accelerated pace. Once you can handle
small money,
or rather, once you’ve shown the discipline to handle small money
correctly,
then and only then you are ready for bigger money. Why? So
you don’t blow
it all in a series of dumb emotional moves later down the
road.
Yet your professional money management system will allow you
to
grow while preventing large draw downs so you can keep and grow over
time. |
