Top 2 Problems Preventing You To Succeed As A Forex Trader – The DesireToTRADE Academy Just Launched!
It's been a very interesting journey since the launch of the Desire To Trade Podcast around September of 2015. I got the chance to talk with some of the top traders in this world, which was amazing.
At the same time, I got exposed to a lot of very ambitious traders who didn't have the results they wanted…
For me, the goal wasn't to put a podcast out there and do nothing else. Instead, I decided to connect with more and more newer traders weekly to determine what they needed help in. This is primarily what inspired me for the articles on this blog. I may even have jumped on the phone with you to help you out!
The more traders I talked to, the more I saw the same problems recurring over and over again. While this article has been written to announce the launch of the DesireToTRADE Academy, I think it is crucial to highlight the top 2 problems faced by the majority of Forex traders I talked with.
Note them down, put them on your wall if you need to. The important thing is for you to be aware of the problem faced by most traders, and then to create a plan of action to overcome those problems.
Ready? Let's get started!
Top 2 Problems Preventing You To Succeed As A Forex Trader
Before going further, I believe it's important to mention that, after thinking about it, the problems I'm about to describe are also the ones I faced. From the moment I started trading, I struggled.
One day, I had a conversation with a guy who had been trading Forex for about 6 months…
I must say he was smart and had been educating himself through books, forums, and more. His goal, not surprisingly, was to make a living off trading.
Then I asked: “What's your #1 challenge right now?”
His answer: “I'm a bit confused, I learnt about most technical indicators, but nothing seem to work”.
I answered: “Yeah, there's a lot of information out there. How do you decide on when to enter a trade?”
He said: “It depends…I look at a few indicators and try to predict where price will go.”
“Do you have a specific process?”, I asked.
His answer described the main thing preventing him to make progress: “Not really…”
Problem: There are so many things to learn, and new traders think they must learn everything. Then, they feel confused and have no idea of the process they have to follow. It's totally appropriate to use indicators or to focus solely on price action. However, you MUST have a defined process to follow when you trade.
But once you have a good strategy, how do you make money?
Once you have been able to find a trading strategy you liked, the next part has everything to do with implementing it.
You see everywhere the saying “Plan the trade, trade the plan.” but it's not that simple in real life. Planning the trades requires you to have knowledge of technical analysis. Trading the plan has to do with emotional intelligence (i.e. how to deal with emotions).
Wait…Aren't smart guys good traders?
The Mensa, high IQ society, regroups people in the world with an IQ in the top 2%. Interestingly enough, the Mensa has an investment club, which, between 1986 and 2001, under-performed the S&P 500 by a lot. In fact, while the S&P 500 gained on average 15.2% per year, the Mensa investment club averaged a yearly return of only 2.5% (Andrew Menaker).
Members of the Mensa are probably the most intelligent people on earth, yet their return doesn't show it. I'm sure that those people are excellent at planning their trades. However, there is a huge difference between that, and actually executing on those trades.
I'm not saying this to diminish the skills of the Mensa investment club, but just so you understand the difference between planning and executing.
Problem: You cannot execute your trades with the same skills you've used to plan them. You must learn how to deal with the challenges getting in the way of your execution. Most aspiring traders skip this step and realize afterward that they have no discipline or lack confidence.
The DesireToTRADE Academy
Now comes the part where I am very excited to let you know about the thing I've been putting my time in the last 2 (or so) months.
It came after creating my course named Power Trader. I realized that trading courses were acceptable, but far from having the positive effect I wanted to have on traders.
See, the information is already all out there on the web and in libraries. You can buy a book and you'll get all the “technical knowledge”, but you'll be lacking a few crucial elements: accountability, action steps, and support. Those are invaluable.
So I decided to rework on the course, and turn it into something more powerful you by creating an Academy in which you'd get the push you need to get results.
In a very summarized format, here's what's the core of the DesireToTRADE Academy:
- Powerful Community
- Functional Trading Strategies That Work With A Clear Process (Full trading course)
- Monthly Calls & Webinars
- Result Guides, Cheat Sheets & Checklists
- Accountability System To Keep You On Track
When Will I Be Able To Join?
I want to make sure that the experience in the Academy will be at its's best. I'll limit the number of members to 20 for the launch of the Academy and do everything I can to bring results to the first members. The sooner you register, the more chances you have to be among the first 20 members. You can get in for only $1 for the first 14 days!
My Best Tips If You Don't Join The Academy…
I get it, the Academy isn't for everyone. If you want to get results, it's definitely the way to go. However, I still want to provide a few action steps for those who won't get in the Academy.
First, do everything you can to educate yourself. I have a bunch of free resources and you need to have a basis of knowledge if you want to trade. Feel free to learn from others too (I'm not the only Forex trader out there).
Second, go slowly and be patient. The slower you go, the easier it'll be for you to scale up. You'll start on a demo account, then move to a small trading account. Eventually, you'll be able to increase your trading activities without feeling too uncomfortable. One of the biggest mistake traders make is that they go forward to quickly from the start. Then, they feel uncomfortable and start to fear the outcome of their trades.
But if you want to be guided along the way, the DesireToTRADE Academy is the premium place for that.