When I was at CityIndex corporate training class, met a person who told me that he attended lots of lessons on forex and couldn’t find one that works.
My first instinct is to ask – is the method genuinely wrong or is it that he has not really understood the gist of the method.
or that he is too fast to declare that the method is not good or is it something wrong with him?
I observed that those who really can have consistent trading performance are people who really drill down to MASTER a method.
It is like a craftman - like a japanese sword maker who took all the energy and time to master the only one belief that he has. that one belief is the method that he must master to sharpen this sword. that dream is that he will become the best sword maker. Those who jump from method to method, from master to master, from strategy to strategy will unlikely see themselves succeed.
To sum all trading strategies, the core is really:
- buy support, sell resistance
- buy resistance breakout, sell support breakout
All strategies if you look deeper revolve around these 4 ideas (regardless of whatever fanciful name all strategies possessed)
Key things that differentiate:
- reward to risk ratio (Are you able to pre-determine the reward to risk ratio? Inherent to the strategy, is the reward consistently more than 1)
- trigger (exactly when to click to buy or sell?)
- consistency (is the money management and risk management rules well established? Are you following these rules closely? Do you have tendency to break rules?)
- peace of mind (When you use the method in concern, are you shivering and scare?)
To summarise, for those who have problem seeing 1234 pattern must come back to us – Attend the hands on class – we will assist you to master the belief, fulfil your dream. don’t be quiet. drill us off our experiences!!!
Good luck.
cheers
binni
www.terraseeds.com