Do Not Become A Forex Or Crypto Trader To Make Fast Money

Do not become a forex or crypto trader if you want to make fast money.

If your goal is to enter trading with the aim to make fast money, abandon that notion.

Trading is a skill that demands a long-term approach not a gambler’s mentality.

Once You Become A Consistent Trader, You Will Notice That Losing Is Part Of Winning

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There are two categories of traders in the forex and crypto markets.

1. Those who have just the basic knowledge of trading (beginner traders) and

2. Those who have mastered the technical and fundamental aspect of trading (professional traders)

Those with the basic knowledge are those people who understand what forex and crypto terminologies mean like: buy, sell, take partial profit, stop loss, take profit, stop loss at break even, spread etc.

The beginners…..

They don’t know how to analyze the market and enter trades on their own, instead they end up paying the pro traders and depend on them for their signals.

Does this mean they don’t make money?

Far from it, a lot of people in this category make money or even more than the pro traders.

Why? Because, your equity will determine how much you are willing to risk.

What about those with the technical knowledge.

This ones have gone ahead to learn how the market works, they understand chart patterns, candlesticks, support and resistance, price action etc. and know how to position each one to make the right decision.

These guys are the one who painstakingly work day and night trying to understand market positions and when to enter a trade.

It takes years of practice to get to this level, and this is the reason why those who provide signals do so with a price.

Our people are lazy yet they wanna be financial free to be rich.

When you want to trade Forex or crypto, just know that forex and crypto trading is more like any business which means you can’t always make profit but sometimes on bad market days you will make losses.

Lazy People believe in investing more than investing in knowledge.

My point is, you all get scammed easily because you want to be rich over night with these 4hrs investment.

Ask yourself will there really be a stranger who could really turn your 50$ to 5000$ in 4hrs?

How though ?

Its too good to be true.

And I guess that person, doesn’t apply risk management at all, so if you want to stop crying then learn it for yourself.
So that you can understand what you are investing in.

Forex is long term….📉📈🫀

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The advantage of having this knowledge is that you don’t have to depend on anyone for your trades, you trade whenever the market aligns with your strategy.

One good thing about forex and crypto trading is that, there is room for everyone to make money.

As a beginner, you can make as much money as a pro with the right information.

A lot of people trading the market just have the basic knowledge and they are doing fine.

Everyone mustn’t be a pro, so don’t wait until you have learnt everything in forex or crypto to take a shot at it.

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If you aren’t a pro trader, pay those with the skills to provide you with information to trade with.

At the end of the day, how much you make depends on your equity.

Well you must also have a mathematical edge.

However, your psychology is what gives you the true mental edge.

True mental edge is;

-Not allowing your mind to control you during trading.

-Maintaining utmost focus during the trade period.

Trading is like doing surgery, without focus on the target you are just playing games.

-Setting and forgetting.

Lets face it, its always heads or tail.

-Waiting till the winners hit tp.

If you can’t wait for your winners to hit tp then you need to start waiting for them to hit tp.

-Know when to add more furnace to the fire.

Do it strategically.

A few things you need to remove from your trading plan if you want a good equity curve to happen for you.

1. Partial profits.

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2. Trailing your trade.

Don’t trail your trade.

If it reverses without hitting your TP then you took the wrong setup.

3. Too early breakeven.

Come on, why simp with the profits you haven’t closed yet?

4. Confirmation on every setup.

Opposite of aggressive/confident entry.

No one expects multiple stops before price eventually goes your way.

Set it and forget it.

Go play pool…or something.

5. Complicated trading plans of up to 10 pages.

There is no positive correlation between knowing too much and accuracy.

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6. Playing too defensive up to 0.1% per trade!!??

There is no reward for having the lowest drawdown in history.

7. Trading 1 or 2 pairs.

This might be subjective but here is the thing…. you need to make as many trades as possible so as to increase the odds of having a positive expectancy in the long-run.

So less is not equal to more in trading (unless you have a proven strategy).

I don’t know much about chemistry, but if you take a glass rod and mix the above factors with a solid Supply and Demand strategy, you will end up having a liquid called SMC(also called ICT) which is red in color….not good.

It’s time you heat up your trading plan and remain with your initial solid plan.

Trading was simple untill wise men came in.

In Forex We Have Something We Call The ChoCH.

The ChoCh In SMC Implies A Change Of Character.

Which Means Price Has Changed Direction.

And I Like To Compare Forex Concepts With Real Life Concepts.

In Life There Are Just Some Things You’ll Need To Leave Behind.

In Life There Are Just Some Things That Are Holding You Back.

There Are Just Some Things That Corrupt You.

Things That Are Blocking All Your Greatness.

And Most Of The Time We Are Fully Aware Of The Things That Delay Our Progress…. But We Do It Anyway.

So You Need A Change Of Character.

You Need To Take Another Direction, Because The One In Which You’re Moving In Now Isn’t Working.

And In Life You Need To Have An SL.

You Need To Know Your Limits And Stay Committed To Your Personal Commitments.

Many Kings Have Fallen Because They Obeyed Their Distractions.

So Don’t Be Carried Away By The Glitters Of Life.

80% of traders are shooting themselves in the foot.

They’re navigating the vicious world of trading BLIND.

Why?

They aren’t using a trading journal.

You think success comes from winging it?

Think again.

Every champion, every king, every legend in the game has an edge.

Yours?

A journal to track, refine, and improve every move you make.

Stand apart.

Be in the 20%.

Master your mind and trades.

Every entry isn’t just data.

It’s a step closer to dominance.

START NOW.

If you’ve lost on a trade, just tell the market it hurt your feelings.

I hear it’s very empathetic.

But let’s be real.

Markets don’t care about your feelings.

They don’t care about your dreams, your fears, or your ambitions.

They are ruthless, unforgiving, and indifferent to everything except numbers.

Losses?

They’re part of the game.

If you’re in this to win, you must embrace the fact that you will face losses.

The market will challenge you, taunt you, and sometimes, it’ll knock you down.

What matters is how you respond.

The market isn’t a friend that’s going to pat you on the back and tell you everything’s going to be okay.

It’s a battlefield.

Every trade is a fight.

Every decision is a strategic move.

If you want to win, you must think like a warrior.

As a beginner do not dwell on demo account for long, it will damage your psychology.

I remember a post someone made saying, if he had control of demo accounts, he won’t let traders use it more than two weeks before they fund a live account.

And I agree.

So many traders freeze once they are on a real account, they are indecisive on what to do because they are trying to protect their equity.

You can’t become a good trader on a demo account, because:

There is this security that comes with protecting what is yours.

On a demo account, you will find yourself jumping from one trade or the other and you keep telling yourself, you are testing to see how good you are.

But assuming it was a live account, you will see yourself asking yourself what trade should you enter because you don’t want to lose a cent, you become meticulous in thinking.

There is this awareness live account creates, it puts you in a state of reality knowing that any action you take can either profit you or you loose out.

How can you say you are practicing money management with money that can’t be used up, fund your account and then you will understand what money management truly means.

Imagine making $200 per trade on demo account and then you find out on a live account you don’t have the courage to go all in.

Demo account is just like a person who is learning how to drive using simulation.

You can’t call yourself a professional driver until you sit on the driver’s seat and take the car for a real drive.

Do not enter into trading if you want to make fast money.

It just won’t happen because this is NOT gambling.