Why is trading so difficult? I’ll cut right to the chase: The biggest factors are the psychological challenges that trading presents. Period.
I got an email today from Darko Ali, who has now had 11 consecutive winning months of trading, and as he said, “Trading is 90% mental and 10% about the trading system”.
I hope that today’s video can help you get some clarity and direction in dealing with this critical facet of trading. (I’ll also show you one of Darko’s trades from this past week).
If you want to hear more from Darko, here’s a great interview from late 2016 where he shares the critical things that have made such a difference in his trading: https://youtu.be/FLkJd0P4Sc0
As a reminder, you should always consult higher times…for many reasons, but here’s something to consider: By trading in the context of higher time frames, you can enter a very low pip-risk trade on a smaller time frame and achieve an outstanding reward/risk scenario.
This week’s video is a great example of this, using a VicTrade (Pattern #6 from the Recurring Forex Patterns course), setup with the Pipnotic Supply/Demand software, which makes it very easy to identify these trades. Take a look:
I originally introduced the VicTrade (also called pattern #6 in our Recurring Forex Patterns course) over 11 years ago. And like the Eveready Bunny, it just keeps on going and going.
The basic parameters of the trade setup have never changed. What HAS changed is the integration of the VicTrade setup with the Pipnotic software used in the Coach’s Corner. The software makes it super easy to spot a trade. Not only that, we have added a VicTrade strategy alert indicator to the software to let traders know in advance if there is a possible VicTrade setting up.
In this video I’ll show you a great VicTrade setup on the NZD/USD:
As you may know, both Sarid and I were away for the past few weeks, and during that time, several of our successful Coach’s Corner members graciously shared information on their trading, showing how it is that they have found success.
These presentations alone (5 of them) are incredibly valuable resources, and as you’ll see from the comments below, they were very well received.
So…how valuable are these presentations? In my humble opinion, if you’ll take the time to study what they’ve done, they can literally turn your trading around to the positive (if you find yourself currently struggling).
In today’s video, I’ll go over one of several trades that one of our presenters (Darko Ali) took, showing how he analyzes a currency pair, making his decisions very objective.