3 Things Youtube Won’t Teach You About Trading Forex
- Feb 22, 2023
- 4 min read
Updated: Feb 23, 2023
Written by: Sam Onigbanjo, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
If you have ever read Richard Kiyosakis book Rich Dad Poor Dad, then you would appreciate the cashflow quadrant. Quadrant 4 is where Investors position their cash and watch it grow and today I want to share 3 things that are super important about growing money via forex trading that you must know but is never shared in youtube trading videos.
Number 1:
The time you trade matters! It matters a lot, in one of my coaching classes I asked a lady that had a 10-year-old son were her son would be on a Tuesday money around 9.30 am and she replied without hesitating in class! So I went on a bit further to ask if that Tuesday morning were in August. and her face changed and said of course the timing matters August is not the season for school. The same thing applies to trading the markets. If you trade during high volatility brought on by the news, you will likely get a better and faster financial reward. So pls do not “Just hope” something will happen your way. Click on Forex factory, the calendar will greatly help you succeed as a trader. Here is the link for forex factory.
Number 2:
The best Forex traders, I mean the most successful forex and stock traders never trade alone, they always trade-in groups, they meet online, in groups, in person, and have early morning calls, this helps to focus, motivate and sharpen your psychology and when you do lose a trade because you will that same group will cheer you on to your next win or cheer you through your next loss!
Group trading is a massive advantage, especially when your group knows exactly what they are doing! Check out this trade and group discussion with them here.
Secret number 3:
The 3 P’s of forex trading so Important to know
P=Patience, Wait for the right trades “trade entry mastery” (T.E.M) is vital do not rush to enter any trade because you heard down the road Joe Bloggs made a million overnight. Trades keep coming “like a bus or train, do not be in a rush and enter a losing trade.
P=Practice, Without practice trading forex Instruments, will always seem foreign and strange and that’s because it has not become an Intentional behaviour to consistently practice how to trade even in a virtual account. Note: Practice is best achieved within small groups of committed forex traders, so don’t do it alone!
Persistence= Without the will and behaviour to repeat your new business daily, I’m afraid this may just remain a good idea that will materialise “One day” You need to be dogged with trading, Forex is a beast no single man can tame, but if you learn to ride the waves, I promise it will make you cash rich!
Summary
Trading is 80% Psychology with the tips I just shared above, I hope your perception of trading has shifted slightly and you are more mentally prepared to address and conquer the markets!
If you are thinking of opening a simple trading account for free may I recommend my affiliate link?
Click here. It's an absolutely free forex trading account registered and regulated in the UK and many other countries in the world. It also comes with a standard auto 50% stop loss safety pre-set to help guard your capital, One more tip you can reduce your leverage on trade to x1 to really help keep your capital safe. I will through in a forex training series as a gift as well!
The reason why trading the forex market is so important is not the glory that comes with the successful trader status! But rather the opportunity to become financially and time free! So you can focus on what you love doing with your time and life, instead of working with people you tolerate because you need to pay your bills! Let’s keep this 100% real you deserve a great life, think of trading your way there!
If you are curious and want to know more:
I am hosting a free forex webinar for beginners on Tuesday 28th of February, 7 PM GMT you are welcome to join just click here and register.
This article was written by multiple award-winning authors, forex trader and Coach Sam Onigbanjo, CEO of Capital Markets Academy, Sam has trained over 1,000 forex traders with amazing testimonials and results. You can ask questions or join one of his complimentary webinars to test and taste the markets
Sam Onigbanjo, Executive Contributor Brainz Magazine
Sam Onigbanjo, is a leading coaching voice in helping people develop the skills and confidence to trade the capital markets and get a grip on their financial life. He is a seasoned public speaker and storyteller, this really helps him communicate skills in a less daunting manner to his audience. As a man he shares his struggle to financial Independence and why he knows it means so much to people to be in control of their own time and what impact it makes on spending time with loved ones and fulfilling life long dreams. Sam is the CEO of Capital Markets Academy and trains people from all over the world online and in person.
