What is the best Forex indicator in the world?

"Which is the best technical indicator I can use when trading Forex?"

This is a question, I get asked at least once a month!

There are a deluge of different technical indicators to choose from, which can help you towards your Forex trading success. 

You get traders that recommend indicators like the Stochastic, The MACD, Bollinger Bands, the ADX, blah blah!

Don't worry about any of these jargon terms, because you don't need them to make money in the Forex market! 

Many traders try to incorporate over three or four of the above indicators and try to develop the perfect strategy, and I have a HUGE problem with this!

Let me explain…

Amateur Forex traders are trying to find a sure-fire indicator that will always win!

Most Forex traders start-off by learning how to use these indicators.

But what they don’t do is, take the necessary time to learn the meaning of each one.

They all try to find that sure-fire indicator which will bring them only winning trades and 100% success rate.

Well let me tell you this.

In a $5 trillion a day industry, I can promise you now, NO ONE can ever predict the market with exact certainty, especially with the Forex market.

Every “killer” indicator is history!

This is probably the most important factor you must consider, when you choose to develop a Forex strategy.

No matter what “killer” indicator you choose, they are all based on historical data.

I honestly cannot think of one indicator in this world that has any form of predictive qualities, and if you find one, please let me know…

How on earth, can we ever predict where the EUR/USD will be going when millions of traders are buying and selling the currency pair at any one time?

Not only that, but there are countless economic, political and socio factors you have to consider, with any one currency pair.

Let’s say, that we had a miraculous computer that takes in every factor that causes the currency pair to move.

Well even with every factor and strip of data your computer has assimilated, it’s still based on historical data!

So if you can’t predict the Forex market with an indicator, what can you do to make money?

When I make any Forex trading decision, I solely depend on one thing…

The trend.

If I see the EUR/USD is going up and has been going up, then I’d rather follow the direction of the trend rather than trying to predict a turn.

The probability that the EUR/USD will continue to go up is higher than the probability of it turning down.

So why go against it?

Always remember, "Wisdom yields wealth"

What do ripped abs, solid pecs and a V-shape body, have in common with successful trading?

I was at the gym yesterday and I couldn't help but feel jealous. 

You see, I like to gym at least four times a week, and have been doing so for the last 12 years. 

And yet, when I look at the body builders that train at my gym, it looks like they're competing for the world champs. I have to admit, every time I see these body builders, I feel inspired to work hard and achieve my own goals no matter what it takes!

Do you think their ripped abs, solid pecs, and V-shape body formed overnight? 

I don't think so! It takes discipline, perseverance and sacrifice to achieve their training results. 

And the same goes with trading! Let me explain…



A successful trader should take notes from a body-builders dedication!

A body builder’s lifestyle is nothing more than full on dedication! They follow specific eating plans, proven weight training programmes and cool down protocols. They keep strict discipline with their body building routines and follow a specific lifestyle routine to help achieve their dream bodies.

And just like a body builder has specific routines with their training, so should a profitable trader.

Every day, you should have a specific routine to follow when you’re looking for trades.

Choose a time when you’re not distracted, to search for high probability trades every single day.

For example, every night when I get home from work I load up my trading charts and carefully scan through my entire watch list. I do this to see, if any trades are lining up for tomorrow. Then set your entry, stop loss and take profit levels.

Make this a routine and you’ll see how your trading will be less stress full and easier to follow your trading rules. And you can carry on with your primary job while your money makes you money in the stock market.

Keep following this routine strictly and you’ll start to see great returns from your portfolio!

Lift heavier weights to become even bigger!

Sorry to say this but, if you want to be a HUGE body builder, picking up 2kg weights at the gym your whole life, isn’t going to get you far.
I’m the proof!

For the last eight years at the gym, I’ve picked up the same kilogram weights with careful technique, and nothing has changed. I’m still where I was, eight years ago!

Even with the right meal plan and correct sleeping routines, body builders push themselves and lift heavier weights. This way, they allow their muscles to tear and regrow even bigger and stronger than ever.

With traders, unfortunately you need to trade bigger to become richer.

WHAT? SO I HAVE TO RISK MORE?

No! Let me explain this with an example.

Let’s say you started off trading with R30,000 and you only risk 2% of your portfolio per trade.

This means if one trade goes against you, you’ll only risk R600.

Over the next nine months, you grow your portfolio to R39,000.

You need to see your portfolio for what it is, and not what it WAS. And so you must adapt to your new trading portfolio balance of R39,000, and not what you started off with (R30,000).  

And nothing else changes! You must still follow the 2% rule where you’ll risk R780 per trade (R39,000 X 2%)… When you risk more, you need to buy more which means, your potential winnings will be much bigger.

This way you can gradually grow your portfolio as fast as a body builder builds his torso!

Top body builders don’t over train and you shouldn’t overtrade!
Professional body builders, as much as they push very heavy weights, know their limits.

They know when to rest, number of hours they need to sleep and the days they should take off training to make them achieve their dream body goals.

Traders might not train, but they do trade. And over trading is probably the biggest reason for a trader to go bust.

The trick is to not have too many positions opened at once. You never know when there’ll be that next financial crisis, where you’ll bank losses after losses.

As a trader, you should never have more than 3-4 trades opened at once. This way you’ll still have a comfortable amount of money you can risk. And you’ll feel less stressed knowing, you only have a few trades to keep an eye on.

You can clearly see that if you apply the mental focus, strict discipline and lifestyle of a competitive and professional body builder, you too can beef up your trading success BIG time!

Always remember, “Wisdom yields Wealth” 

Just a lil fact!

I have something exciting to tell you today! 

This applies to everyone (traders and non traders). 

I know you'll enjoy it and learn from it!

It's a group where you can read and post an interesting, awesome, weird and random fact. This way we can all grow and train our brains together.

Enjoy! Click here and join now! www.facebook.com/justalilfactpage

The Ultimate Trading Mantra for FREE!

You've read the books, MoneyMorning, TradingTips.co.za and you've asked questions on the www.investorsclub.co.za. 

And as a trader, you've done all of the research you need, to profit from the stock markets.

And yet, every day when you trade, you still feel uneasy pushing that buy button! 

This uneasy feeling won't go away, until you read this one mantra. 

When I came across this one mantra, realisation kicked in and it's been life changing to my trading.

“Trading is not easy but I know it’s extremely rewarding if I keep to my winning trading game plan”

Read that again!

And again please…

Successful trading successfully doesn’t come without a risk. And with any risk, comes an uneasy feeling.

I bet you feel this uneasy feeling almost every day!

After 11 years of trading in the markets, I still have a tad uncomfortable feeling every time I take on a trade.

It’s not easy putting your hard earned money into the stock market, where anything can happen.  But I’ll tell you this… That uneasy feeling doesn’t only come with trading.

No!

I pretty much get the same feeling when I pay for monthly rent or when I buy groceries.

But when I put money in the stock market, that uneasy feeling is short lived because I know that it’ll pay me back my money and more in the medium to long term.

And much more!

But risks alone are not enough they need to be backed up with a winning game plan.

Make sure you have the tools to profit from the stock markets first!

Your trading game plan must have of all of your trading levels (entry, stop loss and take profit) and strict money management rules. You’ll need to follow it exactly to grow your portfolio and ensure you never blow your trading account…

Once you have a trading game plan, you need to see if it’ll bring you profits or not.

To do this, you can paper trade your trading game plan where you back and forward test it for at least 20 trades, before you even think of putting money in.

When you’ve done this and you can see that your trading game plan is a winner, you’re ready to put your money where your mouth is.

So next time when you take a trade and you get that uneasy feeling remember that you’re in the same boat as every successful trader in this WORLD, read this mantra.

“Trading is not easy but I know it’s extremely rewarding, if I keep to my winning trading game plan”

Always remember,

“Wisdom yields Wealth”

I was NOT a fan of Joan Rivers, but she taught me two valuable lessons!

 

Now I have to be honest!
I was never a fan of Joan's harsh, crude, acid-tongue and condescending humour. In fact, I can't remember one of her jokes, where I even giggled.

But the day when I heard that she passed away due to a medical procedure, was the day I remembered something special about her. 

On the 4th of September 2014, the world not only lost another well-known comedian but also an astute business woman. 

You probably don't know this but in 2009, Joan Rivers was announced the winner on Donald Trump's series, The Celebrity Apprentice. 

She was competing against 16 celebrities from Dennis Rodman, Clint Black, Tom Green to Jesse James. 

From day one, Joan Rivers took the limelight as she ordered the other celebrities around with each task they were assigned. And on day one of the Celebrity Apprentice, I knew she was going to win! 

As much as I HATE her comedy, there'll always be a part of me that actually admires Joan Rivers feistiness and work ethic when it comes to business. 

That's why today I'm going to share with you two lessons Joan Rivers taught me about success and how you can apply them to your trading.

Lesson #1: “You go on stage, and you’ve got to be in command. You have to put down drunks and control the conversation” - 53rd Primetime Emmy Awards 2001

Joan Rivers never got distracted while she was working and neither should you as a successful trader.

You need to take charge and follow your winning trading strategy without being distracted by other external influences.


And by external influences, I mean all of those news headlines yapping on the TV, all of your emotional buddies that are trying to change your trading decisions and other stuff you read!

Lesson #2: “Take every chance and every opportunity that you can. Don't say 'I can't' or 'I shouldn't' or 'I'm too tired.'" – The Philadelphia Inquirer, 1995

Most beginner traders come into the market with a deluge of excuses!

 “I can’t follow my own trading rules”, “I’ll miss this trade and take the next one”, and “I’m too tired to trade”.

If you say things like this then I’m sorry but you must wake up!

You’re not fooling anyone with those excuses.

Each day you make an excuse and do nothing, you miss out on is a potential trade that could take you one step forward to your financial fortune.

If you’re making these kinds of excuses, then you’re probably going through typical ‘trading doubt syndrome’. This is where you doubt your trading strategy and yourself.

No matter how good a trade looks, the only button you’ll press is the off switch on your computer.

So what can you do to stop the excuses and start the trading success process?

Well, first you have to find the cause of why you’re making these excuses.

Maybe you feel that you don’t want to lose a big chunk of your hard-earned money. Well if that’s the case, then simply risk less and you’ll feel more at ease!

Or if you don’t think you should trade because you don’t have what it takes, then you might need to go back to reading and asking.

You can either read some of the top trading psychology books or you can ask me at InvestorsClub.co.za. I’ll help guide and motivate you until you achieve the success you deserve.

Once you find the causes of these excuses, you will overcome them, and speed up your trading success…

I’m sure you can see now why Joan was the success she was and why I give credit where credit is due!
Until next time, “Wisdom yields Wealth”

PS: Click on the link for more tips, tools, tricks and secrets!

How this one man boosted his profits 20 fold, in just one year!

What you're about to read:
R = Results
E = Education
A = Advice
L = Leverage

Last weekend, I attended the “The Pursuit of Wealth and Happyness” event.

Multi-millionaires took the stage and revealed their golden nuggets of achieving huge success.

One gentleman that spoke was Brian Walsh.

He is #1 expert on making big money on the internet and is the founder of the REAL entrepreneur.

Brian has spent the last 42 years achieving mediocre success. But that's when he said enough was
enough, and so he adopted a new system.

It's called, The REAL success system!

This system has helped him boost his profits over 20 fold, in just one year!

And while I was listening to it, I couldn't help but relate it to trading and how I've been using the system to make money trading the markets for many years.

Today I want to delve into “The REAL Success System” to you and show you how it can boost your trading success.

R = Results

The first thing you must do once you have a winning trading strategy, is to back test and forward test the strategy to check the results.

Make sure you look at least 20 different past examples to see where your trading strategy would’ve lined up. This way you can study the results and see whether your trading strategy would’ve brought you more profits than losses.

After back-testing the strategy, you must then forward test at least 20 trades to see if the system going forward is a success or not.

You’re looking for profitable results at the end of the back testing and forward testing, and only this will tell you If you have a strategy that will make you big money for your future.

E = Education 

Education is key because you just can’t know enough!

Even though I’ve been in the markets trading for 11 solid years, there’s still not one day where I don’t learn something new about trading.

And take Warren Buffett and George Soros. They’ve been in the markets for many decades, and they’re still learning every single day about investments.

You must keep reading different trading tips, secrets and tools from different places (cough Money Morning) that you can adapt to your trading strategy to make it even more profitable…

A = Advice 

I think one of the most important lessons I learnt as a novice trader, are from other traders!

The trick is to not stop asking questions and getting advice from other traders…

No matter how simple or “stupid” you think the question is, keep asking.

You can go onto forums, websites, share chats or even the Investorsclub.co.za and you can ask as many questions as you like for FREE.

Getting advice and asking questions will jack up your trading knowledge even more, which will help your trading journey be even more profitable for life.

L = Leverage 

The last letter in The REAL Success System is the letter L for Leverage. That's right, once you've mastered the first three steps, you need to build on everything you've learned and leverage your results to maximise your gains!

When it comes to trading, leverage is a tool where you’ll simply gain control of a huge sum of money and only pay a fraction of the price for it.

When you trade financial instruments like Contracts for Difference (CFDs) or Single Stock Futures, one of the major motivating factors for this is the money multiplier effect that's at work. This money multiplier effect is leverage (gearing).

Always remember, 

"Wisdom yields Wealth"

PS: Click on the link for more tips, tools, tricks and secrets!

How Chris Gardner went from homeless to a multi-millionaire!

Here's what you're going to read in this blog:

Lesson #1: Focus on your own goals and don’t worry about anyone else!

Lesson #2: Sacrifice in the short term and you’ll gain in the long run!

Enjoy!

Today I want to tell you a rags to riches story on how Chris Gardner went from being homeless, to running his own multi-million dollar firm. 

The story is called, “The Pursuit of Happyness”.

It did not only inspire me with my life long goals, but also with my trading… 

It started, where Chris Gardner nearly lost everything. 

His wife left him, he quit his job as a salesman in the medical industry, he was evicted from his home, was left with only $30 and his goal to run his own multimillion dollar firm.

And in the end, he achieved his dream!

There are so many lessons to this story and today, I'm going to tell you a few trading lessons that I learnt. 

Let me explain!

Lesson #1: Focus on your own goals and don’t worry about anyone else!

Everyday Chris had to run from work to find a place to stay at a shelter, just so his son could have a bed to sleep on at night.

Only once Chris washed, fed and put his son into bed, could he spend a little bit of time trying to study for his internship test.  

You’d think that this would put him at a serious disadvantage compared to the other 20 interns applying for the same paid position as a

stock broker. But Chris kept thinking positively and felt just as capable as any of the other interns.

If you have a trading strategy and you know it works, you need to keep at it and not compare yourself to anyone else…

Don’t worry about how much another trader is making, because you need to think about what you have and how you can grow it.

And so, if you have the basic resources to trade such as, an internet connection, a little bit of money and a winning trading strategy, then you have the same advantage as any other trader in the world.

The trick is to keep thinking ahead, keep following your trading strategy and not worry about what other traders are making. That way with
perseverance and discipline, you’ll see that you’ll achieve your trading goals.

Here is a quote that I remember that helps me to keep going with trading…

“Do something that you love. Whatever you’re going to do is going to be tough.”

Lesson #2: Sacrifice in the short term and you’ll gain in the long run!

After Chris wrote his internship test, as he was walking home, one of his bosses stopped him and asked for some money for a taxi.

This was the last $5 Chris had for the day, money that he could not afford to give away!

But with pride, Chris kept thinking about the future and so he gave his co-worker the last bit of money he had.

This reminded me of the initial sacrifices I made as a novice trader.

With trading losing trades are part of the game. And when you first start out trading, these losing trades can actually make you feel like a failure of a trader.

But the trick is not to think about that one losing trade, and rather to think about the countless trades in the future, where your winners will outweigh your losers.

These small losses are the risks and sacrifices you have to make as a stock trader.

And so, next time you take a loser, just think about Chris Gardner and the sacrifices he made, and you’ll see that a little sacrifice will pay off in the long run.

In fact, with his discipline, pride and perseverance he was made an employee of Dean Witter Reynolds broker house. And at the end, Chris Gardner went to become a CEO for his own multi-million dollar company (Gardner Rich & Co.)

Always keep in mind,


“Wisdom yields Wealth”

If you enjoyed the article then click here for more!

Trading Tips I learnt from Robin Williams!

I was driving to work, I turned on the radio and the first thing I heard was my favourite child hood hero.

Robin Williams!

He was hilariously impersonating a Scottish man who invented golf. And this had me in absolute stitches!

After the comedic skit, my smile turned into sadness, as I heard the tragic news!

Robin Williams (63) apparently committed suicide at his home in California.

It was so ironic because he was the comedian who made millions of people laugh, and yet was the
one had severe depression.

After I heard the tragic news, a string of movies that he acted in, passed through my mind.

In fact, I remembered some of his most powerful quotes which I still relate to trading.

This helped me be a better trader and now it can help you!

Trading lesson #1: Film Patch Adams (1998) “You treat a disease, you win, you lose. You treat a person, I guarantee you, you’ll win, no matter what the outcome.”

This quote can be applied to your trading as this.

When you have a winning trading strategy, you could still have a disease in your trading. And this disease is your trading emotions.

When you win a trade you feel like you’re on top of the world, where nothing can break your tradingaccount. This is where your emotions take over, and you feel all high and mighty.

But as soon as you take a loss, a disease of melancholy spreads through your entire body where you feel like a complete and utter loser.

 These emotions can be detrimental to your trading because when you take a loss you’ll:
•        Second guess your trades
•        Doubt yourself
•        Feel worthless as a person
•        Give up on your trading

So, you need to find a way to combat these emotions of diseases so, whether you take a winning or losing trade, you’ll do it with less emotions.

If you focus on your trades, you win , you lose – But if you focus on maintaining your emotions you’ll win no matter what the outcome.

If you want to trade with less emotions, you must first decide how much of your money you’re looking to risk.

The trick is to only risk a tiny portion of your money which you’re comfortable of losing.

This way you won’t feel that disease of emotions when you take a losing trade and you won’t feel that ultimate euphoria when you bank a winning trade.

Trading lesson #2: From the film “Jumanji” (1995) “Crying never helped anybody do anything, okay? You have a problem you face it like a man”

Say you take a loss when you trade.

Do you scream, rant and rave or completely ignore it?

Well this was a trick question where I hope you answered, none of the above.

 If you scream, rant and rave or ignore your losing trade, you’re being very childish as a trader. Instead, you should see trading as a business, where you record every trade whether it’s a winner or a loser.

This way you can learn from your losing trades and see where you went wrong. And if you record all of your trades you can calculate the win rate of your trading strategy to see if it’s still profitable or not.

Just like a business person doesn’t cry after failure, so to should a successful trader.

Don’t cry about your losing trades, learn from them and use them to succeed in the future.

Trading lesson #3: "You're only given one little spark of madness. You mustn't lose it."

I can’t remember where I heard Robin Williams say this, but I do remember this quote like I heard it yesterday.

When you have a winning trading strategy no matter how crazy other people think it is, keep it!

For more tips,tools, tricks and secrets click here!