Welcome to my Masterclass.
In this lesson you will learn what the foreign exchange market is all about and how we are able to take advantage of the worlds biggest exchange.
No pain no game
Ok, so now you know what lies ahead and what you can expect of this trading program. You also know that I am committed to do whatever I can to get you consistently profitable in the forex market. You will be able to look over my shoulder as I trade and on Sundays we will break down the possible trades setups for the week ahead. But before you go ahead and purchase this program, I need you to be realistic about the effort, time and discipline you will need to accomplish all of this!
Let me get this very clear: this is no get rich-quick-easy sceam! You are going to have to be in it for the long haul. I am not going to lie. Some people describe trading as the easiest, but hardest job in the world. Why is this? Well, becoming a technical trader (we'll get into what this is in the next chapter), requires a skill. A skill that can be taught and learned and through practice can be perfected.
At FXCLUSIVE™ we've come up with a fantastic new way of engraining the technical skills you need to participate in the markets successfully into your subconsciousness. Among many other processes, our course will test your ability to recognize trend, candle shapes, market cycles, price-action patterns, indicator values and much more in an automated quiz/assessment type fashion. Just like you practice for any test. Learn, test, fail, adjust and test again.
Until your subconsciousness mind knows exactly what to "see" and look for when you look at the charts to spot an opportunity, without your conscious mind even having to think at all. Of course, we have a "pre-flight" checklist methodology in place to rate each and every trade as a precaution before we enter the markets. Just like a pilot knows exactly how to operate an air plane and manoeuvre it across the sky safely, but before each and every flight still goes through a pre-flight checklist.
This my friends takes time. A lot of time. I will hand you the best blueprint there is for success, however the hard work that is involved by reaching consistent results is mostly down to you. I will be there to ask critical questions and guide you along your journey, but please don't think you can participate in the markets successfully with just half your foot in the door.
So now we got that out of the way, let me tell you that it is also great fun to learn a new skill, an absolute joy to break free from a 9-5 job, from old limiting beliefs like; you have to work hard, people who work hard deserve more, having money is a bad thing or that money doesn't grow on trees.. ring any bells? None of these statements are true. Absolute nonsense taught by people who have been taught exactly the same and don't know any better. But you do.. you have a craving to step outside the mould and be the best person you can be. And you are not alone. That is why this community is saturated with likeminded individuals who aim for the exact same thing. Who are as open-minded and are willing to challenge and change their beliefs to evolve into a better version of themselves. People you will relate to on a whole new level, and possibly become close friends with.
Many aspiring traders will find themselves infatuated by the idea of being a successful trader, making more money than they can spend, helping out friends and family and basically live life big. Although this is completely in the cards for you, infatuation tends to leave you blind sighted to the flip-side of that same coin. Basically:
Infatuation shrinks our perception of time and expands our perception of space. I.e. Infatuation makes time fly and it makes you want to get closer to the object you desire.
Resentment expands our perception of time and shrinks our perception of space. I.e. resentment makes time go slower and makes you want to get as far aways as possible from the object or your resentment - "get some space".
What does this mean in the context of the business we're in? Well a lot, most people have a tendency to approach any new endeavor with a feeling of infatuation. They feel that what they are doing is not delivering them results quickly enough and they want results now. This new endeavor that they have poisoned with feelings of infatuation couldn't possibly have any downsides, right?
Wrong. Jumping into any serious endeavor without weighing all the attributes needed to render it successful will eventually lead to resentment. Unfortunately this is how many people approach most areas in life such as relationships, health, weight-loss, education etc. They will constantly be oscillating between infatuation and resentment, which is completely ineffective.
This is not how we do business. We don't just hand you the pink glasses and tell you its all sunshine and roses. We teach our students to be realistic, show them exactly what they can expect while masting this trade. If that means we lose some of our potential students, so be it. We are in the business of actually helping people to change their lives dramatically, not just to make a buck.
A TYPICAL TRADING WEEK
Most people I tell that I trade for a living instantly reply with something that includes 'bitcoin' in their sentence. When I explain to them that I only trade fiat currencies, CFD's and Indexes they typically have no clue what I am on about, but they assume that I sit in front my trading screens watching charts all days and placing tens of trades per day.
None of this could be further from the truth. This course is not about scalping. The strategies we teach are either a) with the dominant trend at areas of value, b) at areas where large number of stop-losses are clustered (and we take the other side) and c) reversals at areas where there is a very high probability of the tend reversing. We use multi-time-frame analysis and use the higher time-frames to identify structure and direction and the lower time frames to time our entry. Period. This "sniper-like" approach yields the best result, is the most stress free and causes us to take (depending on the market cycle) anywhere from 0 - 4 trades per week. In a typical month the average is around 12 trades that are taken. This means 1 trade every 2 days or so. Not tens of trades per day.
'The market is a tool for transferring money from the impatient to the patient'. This famous quote by Warren Buffet - worlds most successful investor ever - is very true. Peoples perception about trading is mostly formed by TV shows and movies such as 'Billions' or 'The wolf of Wallstreet'. Although fun to watch that is not a fair representation of what being a trader looks like.
Trading is all about knowing exactly what edge you are looking for in the markets, eyeballing possible entries for days or weeks, taking the trade when the entry criteria have been met and managing the trade according to your trading plan. No trading 'in the heat of the moment', chasing the markets, getting in- and out of positions and pulling you hair out if the trade goes against you. None of that. We plan the trade and trade the plan.
There will be many trades that you will eyeball but not take due to not all criteria bing met and go straight to your profit target. Many. But you will not give them any thought or emotions. Getting into these kind of trades will mess up your mind and is the main reason MANY new traders (1-5 years in business) are doing the break-even dance without ever making any money.
As trades we are risk-managers. We only have two goals:
1. We do not blow up our trading account - without it there is nothing left to trade;
2. We only trade our trading-plan - plan the trade & trade the plan.
To make sure we will never blow up our trading account we only risk 1% of our trading account on any individual trade. Before we enter any position we know exactly where to exit for a loss or for profit. When placing the trade, a stop-loss order is ALWAYS set immediately to make sure we never loose more than 1%.
Our strategies have a strike rate of 80% with a minimum of 1:1 risk/reward, this means that statistically you could loose 4 trades in a row. If you started out with a trading account of $10.000, four consecutive 1% losses would equal:
$100 (1% of $10.000)
+ $99 (1% of $9.900)
+ $98 (1% of $9.801)
+ $97 (1% of $9.703)
= $394 of total losses
As you can see the 1% risk dollar amount reduces with every loss. This will prevent us from losing our account even if the shit hits the van. Also, and more importantly, it will allow us to grow our account fast when the market is moving and we adhere to our trading plan. When we add an additional 1% to our trading account, it will allow us to take a 1% greater position on the next trade while still only risking 1%. This is called compound interest and it is 'the greatest force in the universe' - quote by Albert Einstein.
In fact compound interest is so powerful that if you were to start trading a $5,000 account for five years and you would achieve a consistent 10% result per month, you would end up with a mind-blowing $1,522,408.22 by the end of year 5. That is 1,5 Million dollars.
So what kind of results can you expect trading our 4 strategies? Well of course it all depends on what market cycle we are in and if, or how the market is trending.
Fortunately two of our strategies can make money even if the market is not trending. And as we trade all major currency pairs, several CFD's and Indexes, our portfolio of possible instruments to make money on are quite substantial. In a typical trading month, combining all 4 strategies can yield anywhere from 5% to 30% (uncompounded) profit per month.
As we only risk 1% of our capital on any given trade, this profit will be compounded by each and every trade. With experience and iron discipline a 100% to 500% in profit return per year is achievable.
To help you on your journey, we have selected several books that will help you to develop you understanding how your brain operates more clearly. Experts in their fields have dedicated their lives on unraveling these secrets and teaching them to others - shaving years of auto-didactic error reduction off your trading journey, if experienced and improved-on by yourself.
Understanding these fundamental human mind principles won't just help you in your trading but in life in general. Besides books about understanding our human nature and our mind we have selected several other books relating to trading specifics and to wealth and health. Combining the knowledge gathered in this course with these books has had a tremendous impact on myself as I'm sure it will have on yours.
Getting acquainted with all this new knowledge will take up quite a lot of your time. To make sure you have that time to invest, we suggest you create some sort of routine around studying our course and reading our suggested books. Let your friends and family know how serious you are about this and determine some time slots together.
You will encounter many people who don't have the faintest idea of what it takes to become a successful trader but think they know it all. Or people that think trading is gambling and that hard physical work is the only way to make an honest living. As you progress throughout our course it will become increasingly difficult not to lecture these kinds of people. As the (re)programming of your subconscious mind finds its roots, changes your beliefs and becomes your new operating system, it will become very difficult to speak to these narrow minded people and you will most likely lose some of your best friends. It happens to all successful traders and successful people in general.
On the other hand you will attract and meet new open minded people like yourself, that have the same ambition and beliefs that you now hold. They will encourage and inspire you and will inspire and encourage them. It may all sound far fetched right now, but believe me, if you read this paragraph one year from now, you will be astonished.