#217: How To Become One of The 5-10% of Traders Who Make Money From Trading

Podcast: How To Become One of The 5-10% of Traders Who Make Money From Trading In this weekly video:  00:30 – What it takes to become a successful Forex trader 01:12 - Why do so many people lose money from trading? 01.52 – Most don’t have a strategy or the right mindset 03:00 – How I can help you overcome these issues 03:45 – A trading strategy that is proven to work across all market conditions 06:16 – Live webinars for clients every week either in the European or US trading sessions 07:14 – Clients only Forum site to help and learn – building a trading community of like-minded traders 08:54 – Short cut the learning process I'd like to share with you tips, help, and advice to help you become one of the 5 to 10% of Forex traders who actually makes money from trading, so let's get into that and more right now. Hello Forex traders. Andrew Mitchem here, the Forex Trading Coach. This is video and podcast number 217. What it takes to become a successful Forex trader I want to talk about what it takes to become a successful Forex trader. How I can help you shortcut your learning path and save you lots of time, money, headaches, and frustration. Does that sound good? If so, keep listening. Okay, so there's a common number put around that somewhere between 90 to 95% of all Forex traders lose money. How accurate that figure is I don't know but wherever you research online, somewhere between 90 to 95% is the figure that's commonly used. So, let's accept that that figure is correct for now. Why do so many people lose money from trading? Why is that and more importantly, what can you do to make sure that you're in the 5 to 10% of all Forex traders who make money? Because ultimately that's what you're here for, and it depends how important that is to you, and there's various ways of being a good trader but let me share with you my tips and secrets from around 14 years as a full time Forex trader, and I've seen all sorts of different people and companies come and go in that time believe you me, so I've got a fairly good, extensive knowledge of the Forex industry. Most don’t have a strategy or the right mindset Okay, so the problems are most people don't have a strategy. Of course, it's the obvious number one thing. They don't have the mindset of what it takes to become a good trader, they don't have a style that suits them, they don't have back up or help. People very easily get distracted when things don't work out, and you tend to get the ... You know the phrase, "Blind leading the blind?" That is a very common problem in the Forex world. People find that when things don't work out for them, and their trades aren't working, they go to try to add something to it. They'll go and search for the next holy grail and the next best system, the next indicator, the next bit of news trading, whatever it might be. They're always on the search for the next thing rather than sticking to what they know. It's a big danger. When you're out there by yourself trading it's very easy to get distracted and start searching online, so what can I do to help you overcome that? How I can help you overcome these issues I'd like to explain why such a massively high proportion of my coaching clients become very, very good Forex traders. In fact, one of them, a guy called Paul over in North Carolina in the US, he's now come onboard with me as part of the team. He's now holding live webinars in the US timeframe, so the US trading sessions. He's that successful I've said, "Look Paul, I'd like to offer you a position as part of the group," because he's done so well. There's lots of people out there like Paul who have taken my course and done very well but let's start at the very begin...