Target for Beginners
100 Pips week
Example trade 500 pesos per pip
Potential Gain 100 pips x 500 = 50,000 per week profit
Does that look promising?? i just saw this on facebook in which I am going to tell you the whole truth. Not half or not just showing the potential. But first is that Possible? definitely YES! it is possible. getting 100 pips per week is easy but trading 500 per pip, are the most missed part and not explain in details. As for me I was hook in this kind of marketing strategy in which it led me to gambling not trading. They might show you some trades with actual pips earn and equivalent trade size. But what you are not seeing as a totally stranger to forex is the process in trading 500 per pip with confidence. Some not All have showed you how it was done and because you are new and because you see how it was made common mistake is you have seen it cured then you thought it is a cure. Since you have seen it you thought that is how to do it. since they gave you answer then you thought that will be the answer. Remember its not like common business that there is cause and effect. Its not like farming if crops are dying because of pest you spray insecticide. its never about if this is the problem this is the solution. It will never be that way.
Since they knew people think that way they will entice you of the potential but limiting or even not explaining the type of solution to use and why. they might say the reason but not explain how it is affecting a person with different attitude and personality. Now let me rephrase the above statement
Target for Beginners
100 pips per week
Example trade 500 pesos per pip
Potential Gain 100 pips x 500 = 50,000 per week profit (very nice)
Potential Lost 100 pips x 500 = 50,000 per week Lost (will this entice you?)
Normally they will say, that is why we will teach you how and what strategy, Boom!!! another marketing Strategy. There is nothing wrong with this because you will learn but the question is are they teaching you to trade like them or trade the way you are comfortable. How can you be comfortable? Ill give you a concrete example Your Boss want you to do something which you know you can do it well and perfect. But the problem is the way your boss want it done is far more difficult to your ways. Take note doing it the way your boss want it done, normally you will have errors on the process. and errors in trading can be devastating.
Then again they will say that is why you need practice and try demo, My friend I am not against on those learning what I am against is the way how they present it and the way how they teach you. So does that mean they wrong? NO they are not wrong yet they are not also right. then what seems the problem? pls be aware that in trading there is no right or wrong. Yes what they are teaching is a proven strategy, but the question there is how much will it cost you to perfectly and consistently follow it? Once you have mastered it will it give you assurance this this will work forever? For how long can you keep up on following coz for all you know there will be changes every now and then.
Even me I discourage you to follow my strategy unless we have common personality and attitude. So how can you learn forex? May i suggest to ask yourself first why do you want to learn forex?Pls dont give me the answer to earn to profit you must have deeper reason. The deeper your reason is, will also reflect how committed you are. coz slight error you will make will burn you down. If you dont have deep and right foundation after wiping out your account or after testing few tools you will quit. Believe me technicality is the easiest part, getting 100 pip is the easiest part. But applying all those technicality takes time to understand. putting them in right formation will need experience. and tremendous effort.
Dont be discourage but rather be encourage why because forex have the ultimate potential than can be the solution to your situation. I am just showing you the two side of the coin for you to prepare yourself for the better. coz in trading you will only loose if you quit.
Focus on knowing yourself coz if you knew who you are
then its easy to know what kind of trader you will be.
if you know what kind of trader you are then its easy for you to pic the right tools for you to use.
and if you have the right tools that is tailored fit for you
then its easier for you to understand the characteristics of the market.
if you will understand the characteristics of the market you will not chase it but rather wait for it.
Its good to try other people strategy for learning sake but it will be worst if follow it because it will give you profit. why? because sooner or later you will snap, you will explore. Explore to learn not to profit. Explore to establish your skill coz once you got that skill profit will follow.
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