Forex Trader Story: 5 Rules for Success in FX Trading
My Forex Trader Success Story
Hello traders, today I will share with you the 5 rules that were most beneficial for my successful Forex trader story. They have kept me profitable on the Forex market for many years. Moreover, I will give you some tips on how to improve – not just your trading, but your mindset as a trader too.
This lesson will not be like one of those videos where traders show off with their cars, and then try to convince you that you can drive the same car. These guys are usually the scammers.
This lesson is simply about my Forex trader story. What I do daily and how I stay disciplined while trading. Just in case you are curious, now I drive a 14-year-old BMW, and I really love this car.
I hope I won’t get a lot of dislikes because I drive a BMW. 😊
Now, I will share the rules that I have followed over the last 5 years to achieve great results, and I currently have a great community of over 25,000 students from our online courses.
Forex Trader Story Rule #1: Seek to Learn Before You Start Trading
Rule Number 1: Learn to trade!
The most common mistake that new traders make is to start trading on the market without having any knowledge, without having done any online course or even watching a free video on YouTube. But, guess what happens? Over 95% of these people lose all of their money, and over 70% of them empty their accounts in the first month.
Then, inevitably, they start blaming the market, the price, the news, but the fault lies squarely with them. They didn’t bother to get educated. So, if you want to be in the 5%, those who actually make money, you need to learn. And I am not talking about just one course, or one method, but to constantly improve yourself as a trader. How do I do that?
Every day I commit to learning something new, something I don’t currently know and something that I can use to improve my trading. For example, my father is a neurosurgeon with almost 40 years of experience. And even after 40 years, before every surgery, he reads a lot. He prepares for it. It is the same thing with trading, and really, with everything in life.
If you want to be good at something, you need to learn and continue learning to become an expert in any field. Learn something new every day – a new indicator, a new strategy from YouTube. Take another online course, look for a better broker than the one you use right now.
If you do that, you will learn 365 new things every year, and in 3 years, you will know 1000 new things.
Forex Trader Story Rule #2: Be Self-Disciplined
Rule Number 2: Be disciplined.
Whether you go to an office, have a home office, or meet up casually to trade with friends, you need to be very disciplined in what you are doing. How do I achieve that for myself? Since I was in high school, I have trained in martial arts. And today, I am a black belt, and I have my own group.
The discipline I learned through martial arts really helped me with trading. For instance, I learned how to respect more experienced traders and to get the most out of their knowledge and experience. I learned how to get back up after getting knocked down. Similarly, whenever I had a loss on the market, I did my best to make more profits the next day.
Forex Trader Story Rule #3: Diversify the Risk
Rule number 3: Learn to think outside of the box.
It might sound like a cliche but stay with me here because this is very important in trading. Many traders are blind to what is out there on the market. In other words, they stick to one strategy for years, just because someone told them it is THE profitable strategy and they will make money with it. Wrong!
Now, I’m sure I will get dislikes from some of you that do this… However, You can’t make constant profits using just one strategy. That’s why, in my courses and live videos, I teach my students and viewers that I trade using many different market strategies. That is to say that you need to experiment sometimes. Try Forex, Cryptocurrency trading, Stocks.
If you have losses on the Stock market, you could, at the same time, have profits trading cryptos. This is risk diversification. This is how the big guys do it. Find the market that you are comfortable trading in, but don’t get stuck in there and become complacent. Keep looking for new opportunities all the time.
Always aim higher
Try algorithmic trading; it is so easy nowadays with programs like EA Studio and FSB Pro.
You do not need programming skills to create many Robots for yourself. I hear, quite often. “I want to make 50pips a day, and that’s it. Really? 50 pips a day will make you happy? For instance, one of my oldest videos on YouTube shows how I make over 1000 pips in one-day trading with many trading robots in one live trading account.
Do not let just a little to satisfy you. Always aim for big targets, like Denzel Washington says, DREAM BIG. How did that work for me? From creating & sharing free videos on YouTube covering my trading, I have started my successful Forex trader story. In other words, I have built my own trading academy, and we already have over 25 000 students in our first 3 years.
With me works a team of professionals and we’re constantly improving the Academy by delivering the kind of online education that is difficult to find elsewhere.
In addition, have you seen any courses that include 99 new EAs monthly?
Forex Trader Story Rule #4: Do Not Get Comfortable
Number 4: Monotony is a killer.
Maybe at the beginning of the article, you thought that I would share what my daily routine is, how I do the same thing every day, no! Do not do that! If you do the same thing every day from Monday to Friday, 9 to 5, you will get stuck in a comfort zone. Eventually, you will block your mind, and one day, years from now, you’ll realize that you missed many great opportunities.
Working a regular 8-hour job is the worst thing for human progress. And here come more dislikes. Not more than just 2 years in total working for Forex brokers from 9 to 5, but these two years, were a lesson. Eventually, these companies got me motivated and made me realize that I wanted to change this life, and from then, there was no way I was going to continue on this path.
Are you aware when people stop thinking? On the day they get a salary.
They work month-to-month, knowing they’ll be paid, with nothing to worry about. Therefore, if you’ve already gotten rid of the 9 – 5 monotony, great!.
This summer, we spent over 3 months at the beach and in the mountains with the team. We worked on the beach. As I traveled, I recorded many videos and I took the time to think. There is a partner who is also a friend of mine who says, “I work most when I stop and think.”
Forex Trader Story Rule #5: Be Generous With The Knowledge You Have
Rule number 5: Share your skills.
This is what I found makes me happiest. Sharing my trading strategies, my Robots in my courses, I love to record videos and give tips to beginners to help them avoid the mistakes that I have made. Moreover, I teach martial arts as well, and over the years, I figured out, that it all makes sense if we give it to the next generation.
If you improve something and give your knowledge to others, you get a real sense of satisfaction that someone is interested in learning from you and that you are doing something good and worthwhile. However, you might not be recording videos but just sharing your experience or strategy in a forum, you are still teaching, and you bring value to others.
To sum up, these are the five rules that define my Forex trader story, and in each one of them, I find a lot of value and fulfillment.
If you found this article useful, please leave a comment below. I wish you safe trading, and if you apply any of these rules to your trading experience, and it helps you achieve your goals, I will be truly happy.