Friday, September 19, 2008

Is a good Forex mentor necessary?

The answer to the above question is a solid yes. Trading is a journey. The initial ups and downs cycle need to be experienced daily with the support from a coach.

Every kind of skill can be learned by identifying the patterns that are associated with the successful application of the skill. Likewise, a trader with decades of trades accumulated is able to identify the patterns he sees with his successful experiences with the pattern of the past. If you associate with successful traders and follow their pattern, what is your outcome? Yes, successful in a very short period of time. That is the law of attraction. Aren't you excited.

Remember I mentioned my technical analysis and Japanese candlesticks charting skill? What I have overlook is the fundamental analysis of the forex market. Many free seminars I attended only claimed it's a 24hrs market and trading can be done 24/7.

Wow, am I surprise to find at certain period of time I am like a rabbit waiting for a tortoise to arrive to a target. At certain period of the time, the market is jumping like crazy and I was not in a position to tame.Furthermore, various currency pairs behave differently. Some currency pairs move like a charging fleet of army while some currency pairs behave like a shy girl waiting to be court.

Before I attended my forex course I was totally lost and wonder why the currency pairs behave insanely. My trading account was in a cycle of ups and downs. Finally it drop to $XXXX (4 figures) within a short period of time! Wow, was I in for a shocked of a lifetime.

Finally, I plucked up the courage and humble myself to attend a forex course. Within a month I make back my lost of $XXXX(4 figures) and the rest is history. To be successful in trading, I always remind myself to be humble and never stop learning. To date, I've read several books and attended seminars related to trading which have help and guide my progress. All this have open up my perspective in the trading field.

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