The Authority’ on Price Action Trading. In 2016, Nial won forex legend reviews Million Dollar Trader Competition. What If You Only Took 4 Trades a Month?
What’s Your New Year Trading Resolution? Is Your Stop Loss Too Tight ? Nial Fuller’s Price Action Forex Trading Course. The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. What follows are short summaries of some of the most important points that Mark tried to stress to traders in order to help them achieve consistent profitability. Whilst this lesson stands fine by itself and can be read in its own right, it will also form part of a new series that will go more in-depth on each of the points discussed below.
We will discuss how, as traders, we can apply these points to real-world trading and leverage them when trading the price action strategies that I personally use and teach to my students. Traders often begin trading a method with very high hopes. They want to produce an income they can rely on and get consistent results from their trading. However, this is only possible if you are trading an effective method with discipline and consistency, which most people simply do not do and as a result, they experience the profit gap that Mark refers to.
Douglas makes about this profit gap is that traders typically try to fill the gap by learning more about the market, changing methods, spending more time in front of their computers etc. However, what they really need to learn is more about themselves and how they interact with the market. Anyone, and I literally mean anyone, even a 5-year-old child, can find themselves in a winning trade. It does not require any special skill to get lucky on any particular trade and hit a winner.
All you have to do is open your trading platform and push a few buttons and if you get lucky, you can make a lot of money in a short amount of time. This is how many traders’ careers get started. Needless to say, it is also how they get on the path to losing a whole lot of money just as fast or even faster than they made it. A winning trader has the mental skills to realize, understand and utilize the FACT that any particular trade he or she takes has basically a random outcome. That is to say, they cannot possibly know the outcome of that trade until it is over. The winning trader knows this and they also know that they must trade in-line with this belief over a large series of trades and ignore all the temptations and feelings that get kicked up on each trade they take.