Online Trading Education. Why Do Traders Fail?
Apart from poor online trading education and low standard Forex trading courses there is plain just being misguided.
Here are a few points that are vitally important to your success to becoming a successful Forex trader when you use online trading education.
1. No Forex trading strategy
If you do not have a clear set of conditions to get you in and out of the market when you learn how to trade Forex you have little to no chance of being successful over the long term. This should be clear in the online trading education. If it isn’t then I would avoid. This is often bypassed for discretionary non rules-based trading which is impossible to back-test and therefore implement correctly when trading live.
Price action only strategies which do not use any indicators which are perceived as simplified is in fact detrimental to a beginner’s progress. Understand that trading is based on probabilities. If you discount a whole bunch of conditions i.e. price relative to an indicator you are diminishing your probability stack. Stack the probabilities in your favour and give yourself the best chance of success when you attempt online trading education by doing your research and do not fall for an easy route which does not exist.
2. Incorrect Online Trading Education
It is only natural for newer traders to gravitate toward what is perceived to be an easier approach. Many marketeers disguised as educators will dub their online trading education as ‘trading simplified’ by attempting to alter the rules of the game by removing indicators and insisting clean charts are the only way to make money. Trading is not a simple job. Slick marketing and vague distraction type subscription-based memberships are aimed at new traders by making out that simplified trading is the way to make a success however it is generally a marketing ploy and I’m yet to meet any trader that is successful that doesn’t use any type of indicators. The Bloomberg terminal is around £24,000 a year to subscribe too for professional traders and hedge funds, investment banks etc…. It comes with a plethora of indicators for a reason. The professionals use them even if it is not widely reported.
3. Unrealistic Expectations.
You are not going to learn to trade and gain a huge success in less than 12 months unless you are extremely hard worker. Even then you would likely require further online trading education. If you do not believe this is true you should not start trading as you have the incorrect mindset which is likely naïve. Trading requires an incredibly special skill set and most of it is managing yourself once you have the knowledge. This is the stage many do not reach. Often the online trading education is only half the battle in the success of trading. The rest is yourself.
4. Patience & Discipline
Patience & discipline are essential to successful trading. These are key to your survival once you have obtained the knowledge. So, it is no wonder, so few make it to or sustain success. Namely because they do not have the patience to learn the online trading education correctly or the discipline to approach the education if they get that far they then struggle to await the correct conditions.
5. System Hopping
System hopping is what new traders do when they think there is an easier way of making consistent money trading. This serves to highlight their naivety and ignorance. Those that stick at it realise about 2- 3 years later after trying to find a simplified route which does not exist.
Blowing accounts up, losing cash. Wrecking. Normally because of little to no education. Cutting corners and realising it requires real work. This should not come as a surprise, but trading is difficult but with the right education you have the best chance of success.
I started Able Trading to provide online trading education to help people become successful Forex traders.
Speaking with various unhappy individuals it became apparent that there is a lot of naughty scammers out there.
Pretending they offered trading education but really it was a subscription-based business model with no real proof they could trade successfully over a sustained period.
With a gap in the market to offer serious and quality Forex trading education I decided to start able-trading.com
Firstly I proved I could make money over a 12 month period trading watch video here
It began when I agreed that I would provide trading education to Tim Davies.
He is someone who had suffered at the hands of so-called marketeers disguised as trading educators.
Yep! You got it, he was paying for price action no indicator trading simplified!
Anyway, 12 months after chatting with me he is trading successfully and now a full time trader.
Able Trading membership is an affordable monthly payment structure at just £59.99 per month to access all the content.
This works out to around cup of coffee/energy drink per day.
This is for access to all education and all content that will provide you with enough knowledge to become a consistent trader.
Access membership here
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