Why Learning To Trade Forex Will Leave You Broke!
Why Learning To Trade Forex Will Leave You Broke!
In this Forex trading vlog, I share with you why I believe the way most people learn to trade Forex is wrong…and what you can do about it. Vlog #449
- And for a long time I thought that the way I was taught to trade, which was by trial and error, was the wrong way to go. What's up traders, welcome back to Phuket, in Thailand. Today I wanna share with you why I believe that learning to trade and learning the typical way most people learn to trade, is gonna leave you broke, and won't give you any result. As a small reminder, we have an awesome offer for the Academy that's starting this Saturday. If you wanna get my help, and the help of a lot of other traders which should join before that time, we'll be there to coach you, and you also get a bunch of bonuses that we don't offer usually with that. So, let me link that down below as always, comment below with your thoughts, here are a few comments in the past. Really appreciate you guys, always, for leaving your comments down below in the comment section. And I'll catch you back here tomorrow, ciao.
I wanna share with you a different way you can learn, a different way you can start to practice things, to get better results faster. And that's gonna be against what most people want to do and what the kind of commonly learned thing is. But it's gonna be helpful, so I wanna share this with you right now.
There's this common saying, as you've probably heard, that knowledge is power, and I think that doesn't really apply. I think that's something that people used to say back when information was really scarce, and you couldn't really go online and find info about something you want to learn, like you had to maybe read books, talk to people, to get knowledge. And that's why they say knowledge is power. But these days, knowledge is everywhere. you can learn from any source you want, online, videos, book, podcast, whatever you prefer. And that makes knowledge not that different. So everyone can learn the same things at the same time, or even at a pretty fast rate, which is pretty crazy.
That means that knowledge as itself, is no longer that valuable, which means you've gotta get big results, which might be financial freedom, freedom in general, spending time with your family, whatever, getting a big career in trading, then that means that you have to go into a different path. And that path is called practice. So the more you practice, the more you apply what you've learned, as opposed to just learning, the faster you get ahead, and the more results you get in life and trading and everything else, and business.
And that's pretty important to understand. Now the reason is quite simple, when you practice something, when you do it, when you actually put in the work, you get what we call feedback, and feedback these days, I think is invaluable. An employee that does something but never gets feedback, is just an employee who's gonna do the same thing again and again and again. But an employee that gets feedback, someone that gets a return on what he does, whether good or bad, is gonna know how to improve, what to do to become better. And that's the crucial part, so the more you get feedback, the more you improve, and the closer you become to becoming a master at what you wanna master. And that's the crucial part. See you cannot get feedback from a book, you cannot get feedback from a video, you cannot get feedback from a podcast.
You can only get feedback when you actually put in the work yourself, you try something out, you test something, which might fail, but at least you get feedback, and that feedback is what allows you to move forward. So that's much more important than trying to learn and reading books in my opinion. Then that feedback that you got from trying things out, let's say it didn't work, like you try, you lost a little bit of money, perhaps, or you just lost time on a demo account, because you didn't trade a lot of money yet, which is awesome.
Now that gives you what you have to learn next. So let's say you are really bad at something, and you get feedback, well you know exactly what to focus on now, you gotta know what to learn. And that's also something you cannot get from a book. 'Cause a book might tell you, well, you've gotta learn this and this and this to become good at trading, but then you do it, and you're missing some parts, but you don't know what to learn after. And you stay stuck, thinking that you didn't do things right at first, but you just don't understand like a small part that you can easily get, if you were to practice, get results, and then going to learn that next part, which you're lacking.
If you do it, then you can start to see what you're missing, and start to focus your attention on this, or bring in your coach, someone that can tell you what to work on. And we have an awesome academy for this, as a small reminder, quick plug. But that is how you do it. And maybe you can even relate to this, you've been to a point where you go online, you read different blog posts, you watch different videos, but then you start to get like, contradicting advice of people. They all say something about the subject, but it's all different. And then you're stuck there about, asking yourself what you have to work on, what you have to do exactly, what is the right answer. And that's because it's a fact, when trying to learn something, you will come across different strategies, different opinions, different techniques, different tactics, different way of doing things. And only you, by applying them, and seeing which one will work for you, can get you results.
Otherwise you can't know who's right and who's wrong, and they might all be right, they just had a different experience themselves. They tried different things and different combinations of things that worked, and they teach that. But if you don't apply it yourself and test it out, and just get feedback first, no matter the cost, you are more likely to get results and to find out which advice is right for you. And yeah, I really want you to be careful, because one thing I found for myself with information, and trying to learn something, so learning trading. A lot of people would tell me they'd spent years trying to learn, and they are just in the phase of learning, which is completely bullshit in my opinion.
They just want to find an excuse not to put in the work and practice. Well the biggest thing is that information and learning, and finding information, is very very addictive, you could do this for a long time and you always wanna find more. It's like a drug, and most people just do that for a long time, and then they give up 'cause they find that, oh, it's confusing, there's too much stuff, I cannot master everything. But if you were to just like, take a step back, and start to apply from day one, you will be much more ahead than people that are just trying to learn all the time, and stay in the learning phase before they even think of applying something. Like don't stay in the learning phase for too long, that's a place where you can be for a week maybe, a month, at most. But then stop it, and go do something, go apply something, go test it out, go get results, and then come back to correct after.
That's what I've been doing for myself, and for a long time I thought that the way I was taught to trade, which was by trial and error, was the wrong way to go. But now I realize the power of not just learning, but applying things and becoming better over time, and correcting over time. So yeah, hope that makes sense, and I really want you to not be stuck, and only learning and not taking action.
- And for a long time I thought that the way I was taught to trade, which was by trial and error, was the wrong way to go.
What's up traders, welcome back to Phuket, in Thailand.
Today I wanna share with you why I believe that learning to trade and learning the typical way most people learn to trade, is gonna leave you broke, and won't give you any result.
As a small reminder, we have an awesome offer for the Academy that's starting this Saturday. If you wanna get my help, and the help of a lot of other traders which should join before that time, we'll be there to coach you, and you also get a bunch of bonuses that we don't offer usually with that. So, let me link that down below as always, comment below with your thoughts, here are a few comments in the past. Really appreciate you guys, always, for leaving your comments down below in the comment section. And I'll catch you back here tomorrow, ciao.
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My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader (who has the chance to travel the world anytime) and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
You see, a lot of aspiring Forex traders lack the confidence to pursue their dreams. I’m there not only to help you develop your confidence but also to implement the tactics that are proven to give you results. You’ll develop Forex trading discipline and the other skills you need in NO time!
Ultimately, you’ll get to experience what a day in the life of a Forex trader truly looks like, but you’ll also have to be consistent with your Forex weekly review!
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