I WAS PERFECTING MY TRADING SKILL
“Do you see a man skilled in his work? He will serve before kings; he will not serve before obscure men.” – Proverbs 22:29
“Nothing great was ever achieved without enthusiasm.” – Ralph Waldo Emerson
Can you bend a bow of bronze? Are your arms trained for battles? In other words, can you pull the triggers in the markets? Are you able to defend your portfolios in bad market conditions? Here are my trading results in the year 2011. As I said earlier, the last year was a difficult one but a good trader should know how to make money in good and bad markets. I gained a minimum of 9,800 pips with my Gap Trading Strategy (thus gaining about 49% profit from that) and a minimum of 2,178 pips from my Non-directional Strategy (thus gaining about 10.89% profit from it). This is a combination of 11,978 pips and a total growth of 59.89%. Please note that my trading results on demo and live accounts are similar; only position sizes are different.
Considering the amount of pips I made last year:
If I used 0.01 lots per pip then my profit would be $1,197.8
If I used 0.1 lots per pip my profit would be $$11,978
If I used 1.0 lots per pip my profit would be $119,780
If I used 10 lots per pip my profit would be $1,197,800
All these are only approximate figures. My position sizing depends on the amount of an individual portfolio. This year, I expect to outperform the last year’s figure in terms of pips. By signing up for my trading signals, you can see how I trade and do so accordingly. You may get my access to those accounts and Forex trading signals at: http://www.fxinstructor.com/en/analytics/ituglobal
Remember that like any trader under heaven, I’m subject to the uncertainties of the markets. I experience many losses as well, only that I’ve learned how to control those losses no matter how many they are. Some people refer to their trading systems as being magical. Quite to the contrary, you will need to take decisions based on partial knowledge and probabilities, not certainties. Trading is a personal journey with different levels of development. It’s never too late to start again and trade your way to financial freedom.
I Was Perfecting My Trading Skill
While some were busy discouraging people from going into Forex, spreading myths and lies about the markets, I was perfecting my trading skill. While many people were busy looking for the Golden Goose strategy (they asked for the Holy Grail but they were given a mare’s nest), I was perfecting my trading skill. While some fans were busy hailing their stars and heroes with inordinate enthusiasm (hero worship) without thinking of how they themselves could be hailed, I was perfecting my trading skill. Some were busy blaming generational curses. Some were blaming their spouse or parents or children or the markets for their unpleasant experiences. They were blaming their enemies, witches and demons for their problems – whereas I was perfecting my trading skill.
While some kept blowing their account out of greed, using big position sizing because they couldn’t just see why they must use small position sizing, I was perfecting my trading skill. While some people were waiting for miracles and doing nothing, praying for breakthrough, but doing nothing; having their heads in the clouds, but doing nothing, I was perfecting my trading skill. While some people were busy begging for money, relying on some friends and family members or unknown persons to feed them and carry their financial burden, I was perfecting my trading skill
While some were expecting their politicians to pay their bills and put food on their table, they were expecting to be fed from the public treasury. While some people were busy blaming their government for their calamities, pointing accusing fingers at their politicians for the economic woes befouling their nation, I was perfecting my trading skill. While some were busy wasting their time as con and scam artists, proposing bogus and spurious deals, announcing fake lottery wins, devising ways to swindle people out of their hard-earned money, telling all sorts of lies, committing various Internet crimes, I was perfecting my trading skill. While some were busy imperiling people with email extractors, phishing email, spy software and Trojan horse, I was perfecting my trading skill. While some believed that the only way to get out of poverty was to engage in illegal activities and become criminals, I was perfecting my trading skill. While some were committing themselves to armed robbery, pilfering or shoplifting – I was perfecting my trading skill.
Innumerable people are lamenting the ever rising waves of unemployment in their country. In one land, the number of the unemployed is increasing by over 4.5 million per year. Some were begging for jobs, and some had put their destiny into the hands of their employers. While some had accepted that they were destined to be indigent because they tried many times and failed, because they tried their best in life but failed and because they struggled but didn’t succeed, I was perfecting my trading skill. The assassination of motivation is procrastination. Certain people were busy postponing the day they would start training for trading. They might choose a date that was 6 months away. When the day arrived, they’d choose another day that was 2 years away; yet I was perfecting my trading skill. While some were busy nursing hatred and resentment because the truth about trading is constantly revealed, I was perfecting my trading skill.
While some find it difficult to decide what to do with their life and while some see university degrees as the open sesame to riches, I was perfecting my trading skills.
Your PhD doesn’t make you the greatest man in the world. Certain people seem to think erroneously that the automatic solution to their problems is their college degrees. Some don’t even know what they could do with their life: they do something only because many people are doing it. They go to the university because many people are going there. They seem to be at the university because they couldn’t do anything else or don’t know what else to do. Everything seems to be alright as long as daddy or government is paying. Why do so many people want to become accountants? People think life is just as simple as getting great degrees and getting great jobs and getting married and living happily ever after. For them, I realized it’s not about getting very rich, it’s to enable them to do ‘safe and respectable’ professions that perhaps mildly impress their parents and other people. However, I was perfecting my trading skill. While some were dabbling from one business to another, rushing into one venture and quitting after facing challenges, I was perfecting my trading skill.
Life itself is a zero sum game. When would you start doing what really needs to be done rather than doing what people want you to do? Are you fascinated by what you wanted to hear or the blatant truth? I remained a failure for as long as I was listening to what I wanted to hear. I experienced breakthrough only when I started to follow what I didn’t want to hear. “I’ve been lucky enough to be involved in a number of other ‘cool’ careers, but nothing has satisfied that need within my soul for a meaningful existence like being a trader does,” writes Lance Beggs, a profitable trader. Trading is dynamic. Trading is fantastic. Trading is salubriously stimulating. Trading is liberating. Trading is wonderful, intriguing and rewarding.
Last but not the least, FXInstructor.com wants you to have the greatest success in trading the Forex currency markets. They look forward to helping you to learn and grow your skills as you trade this huge, but extremely volatile, Forex market. During these turbulent times, they’ll be at your service through market forecasts, webinars, trading rooms, blog articles, support services, free educational tools, trading signals and many more. They want to help you make good trading choices. And, if needed for special help, they’re also available via e-mail. They look forward to your capitalizing on their services.
I conclude this article with quotes from Rob Booker:
1. “There is a myth in American culture, and it’s spreading around the world: your job should be fun. You should enjoy what you do for a living. “Do what you love and the money will follow.” And so on. Perhaps we’ve had too strong of a dose of this doctrine. The truth is that although we are better off choosing a career that interests us, we’re going to be bored at work if we learn our job really well. The promise is simple: if you become a world-class Forex trader, at some point your job will be ho-hum. Not all the time, but it’s not going to be an adventure every day of the week. Sorry.”
2. “Once you discover a set of true principles, they’ll do you no good if you disregard them. I’ve met Forex traders that understood many, many true principles, but they were still dumb as a bag of hammers and poor as church mice because they failed to obey them.”
3. “You can succeed in the Forex market. As a day trader, you can be paid more handsomely than doctors, lawyers, and just about everyone else. But if you want to be a member of the elite class of highly successful Forex traders, then you have to put the time in. You can’t expect profits to come easily. Successful Forex trading will offer you more time, more money – and more stress – than you have probably ever experienced. But you can do it. Success is not about your IQ – it’s about your work ethic and your discipline.”
NB: Please watch out for my coming articles with these titles: ‘Traits of Successful Traders,’ ‘How the MACD Generates Good Trading Signals,’ ‘A News Trading Strategy,’ ‘Analyze the Markets with the Aroon Indicator,’ ‘A Brief Introduction to Point and Figure Charts,’ ‘Does High Hit Rate Work Always?’ ‘My Typical Trading Day,’ ‘A Trader’s Trick Entry Technique – Sighting Golden Trading Opportunities,’ ‘Making Money out of Losses – A Blessing in Disguise,’ ‘Achieve a Better Hit Rate with Gap Trading (Using the Logic Yourself),’ ‘Play the Markets Victoriously with Nano-cent Accounts,’ ‘Why It’s Difficult to Do the Right Things in the Markets,’ ‘How to Identify a Sideways Market – Be Safe!’ ‘A Negative Expectancy System – Pushing Against the Wind?’ ‘Trading Signals,’ ‘An Intraday Moves Catcher – A Wealth Generating System,’ ‘Unlock the Power of Everlasting Triumph in the Markets (Parts 2 – 12),’ ‘How to Handle Uncertainties in the Markets,’ ‘The Issue of Stops (Come Back! Oh Come Back!),’ ‘A Hedge Funds Strategy,’ ‘My Hedge Funds Strategy Update,’ ‘Experiment with Different Exit Tactics,’ ‘Mastering the Market Equilibrium Zones – A Time-sensitive Method,’ ‘How I Apply Risk Management – Part 3,’ ‘A Simple Positive Expectancy System – Trading Effortlessly,’ ‘Testimonies from My Subscribers (2),’ ‘Resist the Lure of High Risk – Part 4’ ‘Best-case Scenarios – The Beauty of Trading,’ ‘Effective Swing Trading in Forex,’ ‘Gap Trading Revisited,’ ‘3 Recent Gap Trades,’ ‘Developing the Right Attitude towards Losses – Part 4 (Losses Aren’t Abnormal) ,’ ‘The True Holy Grail – The Long Sought for,’ ‘Forex Trading Vocabulary,’ ‘ Clarifying Some Issues – Part 6,’ ‘Navigating Turbulent Markets – A Double Timeframe Analysis,’ ‘Before You Open that Trade,’ ‘Cogent Trading Biases,’ ‘Overview of My Signals Strategies – Can You Become a Super Trader?’ ‘Winning Trades, Losing Trades,’ ‘The Cost of Discipline,’ ‘Monthly Market Review,’ ‘Uncertainty Has Become My Ally – An Interview with a Dogged Market Speculator,’ ‘I Can’t Express How Grateful I’m to You!’ ‘Yearly Trading Update (2012) – The Big Picture,’ ‘What We’ve Decided to Do in the Markets – Trend Following It Is!’ ‘Yearly Trading Results (2012) – I Was Perfecting My Trading Skill,’ ‘Monthly Trading Report (December 2011),’ etc.
Your questions and opinions are highly welcome.
With best regards,
Forex Signals Strategist, Funds Manager &Coach
Yahoo! Messenger ID: saazalmu
Get my Forex trading signals at: http://www.fxinstructor.com/en/analytics/ituglobal
And my past articles are also available at: www.ituglobalforex.blogspot.com
If you want my coming trading articles delivered directly into your inbox (I don’t support spamming in any way), you can send me an email titled “Request for Trading Articles.”
NB: There is risk of loss in trading, but it is possible to be a successful trader.
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