In my 7 years sojourn in Forex, I have come to see much
different kind of Traders: Swing Traders, Divergence based Traders, Elliot
waves Based Traders, Fibonacci based Traders, Pivot Point Based Traders, Moving
Averages Cross based Traders, Fundamental Based Traders etc. Each trader should
fall into one category or the other and that’s a wonderful thing… being able to
explain your trading style or aligning yourself with something explainable.
The
truth is that I have seen successful traders from almost these entire myriad of
trading patterns and they all have one thing in common: A resolute decision
they made, to stick to that trading style and genuine attempts to expand their
knowledge in it.
However, I still have seen greater number of traders with no
definable style. So many traders belong to this group and it’s unfortunate that
they hope to make a living through Forex, without even being able to clearly
define how they make trading decisions.
I once encountered a trader who wanted to make a quick
repayment of a 5year old debt of about $10,000. His intention was to subscribe
to my trade signals, with a $500 account, his hope was to get to make as
much money as possible in the shortest possible time (3-5months) and repay his
5year old debt. I was amazed to say the least. My answer to him was as factual
as you can get. NOT POSSIBLE.
I try to
encourage people to enroll for my
Forex Course or any other, rather than opt for
just the
Signals because, it’s easier to get a Forex course that would suit you
than getting a signal provider that would match your needs. What do I mean by
this? If you have no idea how the signals are generated, many would find it
difficult to stay calm when the signals do not come or when they see that the
market is moving/volatile. But the individual with some experience in how the
signal is generated would remain calm and may also realize that no trader can
make pips in all market conditions.
Therefore, my advice to traders or intending traders is to
seek knowledge. Invest in yourself! Whether you intend to resort to Signal
providers or Fund managers and most especially when you intend to trade
yourself.
The worst thing you can do to
yourself is having inadequate or no knowledge of where you intend to invest
your hard earned cash.
Identify a mentor, follow him and if possible, get to be
trained by him. This shortens the learning curve and would eventually save you
many heart breaks of crashed accounts.
Happy Trading!
Chris Ahize
