The role that Tony plays is altogether different.
A Tony isn’t lured into the never-ending whirlpool of email offers and “shiny forex push-button methods”.
He knows that 95% of retail traders fail.
So he had to approach it differently otherwise, he would be part of that statistic.
A Tony looks at himself first, like really looks.
…and writes this stuff down.
- I have an addictive personality.
- I’m impatient
- I like to know how things work
- I don’t want to sit in front of a screen all day
- I like systems so I can be hands off
- I’m a positive person
- I can be too hard on myself at times.
- I need a focus otherwise my attention is all over the place
Now Tony can laser focus in on what style of trading will be the best for him.
*Breakout trading* is my preferred, most profitable method. I show you in the video how to do it:
Being a Tony you learn that…
1) understanding who you are as an individual is key.
2) your level of trading education determines how fast you can move.
3) treating it as a business keeps you grounded.
Tony knew he didn’t want to sit in front of a computer all day because that sounds too much like a job.
He also knew he had an addictive personality.
So he looked for a strategy that he could set up using limit orders then walk away from the screen and do something else.
When it comes to screen-time it can act as a double edge sword.
Not enough screen time you miss out on the nuances of the markets you trade.
To much screen time, you end up sabotaging your trades by fiddling with entries and exits.
…the mind begins to play tricks on you and you start doubting your positions based on short-term spikes.
Tony took more of a longer-term view.
Either trading with the trend or when markets faltered; a swing trading approach.
He was in trades for hours, sometimes more than a day.
Routine was everything.
….a plan for every morning.
Victory Loves Preparation
A Tony is systematic.
An average trader feels good when they win.
A Tony “feels nothing”.
Tony also wants to make money now.
Not by going into trades gung-ho, but by having a mentor that guides him to entries pre-market open.
This was key when I first started to make money.
It increased my confidence in the method itself.
I would make withdrawals with the profit.
It would let me know that it’s real.
It let me know this is possible.
It almost felt like I was cheating.
Tony uses proper risk management with every trade.
For every $100 I would risk I would be looking to win a minimum $250 and would never take a trade unless the market offered up that scenario.
I could lose 50% of the time and still have a killer month.
Tony knows this is a business, and every business knows what’s making them money and what isn’t.
Journaling lets you know where you’re at.
You can’t tell yourself any lies.
A Tony knows trading is 90% planning and 10% execution.
You don’t have control of the markets, but you do have control over you.
So I ignored everything out there that had nothing to do with my strategy and began to master the process.
“Re-read that last sentence again, let it sink in”.
A Tony uses higher time-frames so he doesn’t get caught in all the noise on 5-15min charts
In fact, this opened me up to a whole new world.
Made trading 5X easier.
More time freedom.
Let me demonstrate this to you in the video below.
Then take it for a test run.
Let me know how you get on.
I started getting good. Real good.
Good to a point, where I’m managing a 7 figure account for a fund from the comfort of my home.
More about that another time.
Tony’s approach looked more like this…
It’s about focusing on one core trading strategy.
Once you got it.
You then ignore everything else.
There is no magic trick.
No one technique.
No ultimate strategy.
At the end of the day if you want to become a market athlete, a magician of charts.
It boils down to one thing…
*No email required.
Risk Disclosure Statement: Trading currencies on margin involves a high level of risk which may not be suitable for all investors. Leverage can work against you just as easily as it can work for you. Before deciding to trade currencies you should carefully consider your trading and financial objectives, level of experience, and appetite for risk. The possibility exists that you could sustain a loss of some, or possibly all of your trading capital. Therefore, you should not fund a trading account with money that you cannot afford to lose. It is recommended that you seek advice from an accredited financial advisor if you have any doubts as to whether currency trading is right for you. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Any losses incurred by traders unsuccessful in applying these ideas or methods are the sole responsibility of the trader and ForexMentorPro.com and its principals, contractors and assigns will be held safe from prosecution in any form.