Is there any way you can learn forex and become profitable?
In this article,
I would be sharing with you my progression path and how I learned forex and became a multi-millionaire forex trader today.
Who am I?
My name is Dapo Willis, a financial trader with over 11 years worth of trading experience (learn more)
Why should You listen to me?
Trust me, I have been through these stages and am also in the best position to walk you by the hand.
Before we get into the best way to learn forex.
First, let’s talk about how I became profitable in the Forex market.
How I Became Profitable In The Forex Market.
In this section,
I would walk you through the step-by-step process that I took, that helped me become profitable in the forex market.
I believe if you follow this path it would also increase your profitability in the market.
Chart Time:
Back in 2011 through 2013 while I was trying to learn and become a master of the forex market.
One thing I cannot but remember is the amount of chart time I had during those periods.
After hours of consuming loads and loads of Forex educational content, I would then go on the chart to practicalize what I have learned.
I would literally watch how those candlesticks moved during my spare time– after class, during lunch breaks, on the weekends, and during the summer holidays…
Unbelievable right?
Well, that’s the truth guys and that was one of the many sacrifices I had to make, just to get a hold of how the market moved.
I spent a lot of time before my computer and sometimes I would sleep while watching and analyzing the chart.
This is one of the major things that built me into becoming the consistently profitable trader that I am today.
Zooming Out:
Another thing that helped me while learning how to trade, was zooming out.
Uhh ….What then is Zooming Out?
Zooming Out simply means going on the highest timeframe (i.e. the monthly time frame) to have a broad picture of what the market structure is doing and what it is about to do.
One mistake many traders make is that they trade against the overall trend of the market.
They fail to check what is happening on the higher timeframe to help them make better trading decisions on the lower timeframes.
In that regard, I stood out and it increased my profitability.
I trade with the overall trend of the market.
High and Low Timeframe Conformity:
Conformity here means when the high and low timeframe are heading in the same direction.
What I do is that I analyze on the higher timeframe and then execute on the lower timeframe.
Note: Whenever I analyze the higher timeframe and the lower timeframe is not yet agreeing with the higher
timeframe, I STAY OUT.
Most Obvious Trade:
Taking the most obvious trade has always been my goal.
After analyzing and the trade is not obvious to me, I don’t take the trade.
Like I always say in my Youtube videos,
I allow the market to knock on my door before I place any trade.
Forcing trades has been what has led to the downfall of many traders.
They tend to assume their setup is present but the opposite is true.
Risk Management:
The backbone of any trader is the risk management being put in place.
This point is usually under-emphasized and has led many to trade in the wrong way.
Risk management in simple terms is when you accept to lose what your account can
afford to lose in any particular trade.
For a beginner, I would advise less than 1% risk of equity on every trade you place.
By doing this,
you will increase the number of trades you can place and also, reduce the amount you could potentially lose.
So, Risk management definitely made me consistently profitable.
Above are the 6 steps I took that increased my profitability in the forex market.
I strongly believe if you follow those steps, you would be unstoppable in the forex market.
Let’s now discuss this,
Best Way To Learn Forex
Is there really the best way to learn forex?
Yes! There is.
In this section, I would reveal to you the best possible ways you can learn forex.
Get A Mentor:
One of the best ways you can learn about the forex market is by learning from an experienced Mentor.
Many traders often ignore this, they try to do things their way and most often than not, the market tends to teach them the hard way.
Do you know why?
Okay for instance,
Before having your driving license, officers would have to verify that you’re able to drive well before handing it over to you, your license.
How did you learn how to drive?
Is it by watching videos, or
Is driving a natural trait?
The answer is NO!
You must have learned how to drive from your dad or mum or your guardian or whomever.
You must have watched them drive over and over again before you learned how to drive.
The same logic applies to learning Forex.
You have to learn from someone with years of trading experience.
And just like in the case of driving,
The common mistakes made by many wouldn’t be a mistake for you, because there’s someone who’s there to guide you from making those mistakes.
Purchasing The Forex Mastery Course:
Having to purchase the forex mastery course for as low as $100 is the best thing you can ever do if you want to stand a chance in the Forex market.
Unlike most traders,
Those who struggle with learning how to trade the forex market for as many as 14 years, those who purchased the Forex mastery course would only have to learn for a maximum of 4 weeks before becoming a profitable trader.
I’m not saying all this for gains, it is because the mastery course has been changing lives.
It is contained all you need from being a newbie to becoming a professional.
Conclusion
In this article, you have learned;
The most realistic steps to take for you to become a profitable trader and
The best ways to learn the forex market.
I believe you have been able to learn a lot from this article.
Moving forward, how do you want to learn forex and become profitable?
Let me know in the comments section.
