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Forex Traders: Trade Your Plan!

Forex Traders: Trade Your Plan!



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Follow The Well-worn Path Of Trading Success!

By : Antony Lucan
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One of the best secrets of trading success is that success leaves strong (profitable) clues.

Why this simple fact is so elusive to new traders (and even those who have been attempting to learn the markets for some time) is a function of our egos no doubt.

Instead, our egos seem to demand that we discover a new route to the promised land of profitability (as if there is one that hasn't already been discovered).

Perhaps there can still be room for something new to be discovered.

But, there's this to consider when you're trading the markets.

It costs a lot of money to make the same mistakes that others have made on their path to success.

By adopting a teacher or mentor of trading, we can bypass a lot of the financial costs of learning along the way. They can save us a small (or large!) fortune.

Our time is even more precious than the expense of making the same "learning errors" trading. It's easy to consume hundreds, even thousands of hours studying techniques and market behaviour.

The funny thing is: we already know this instinctively because what I'm suggesting is the same process we all went through when we went to school. Mentors were in place that already knew the material and who found the most efficient way of communicating that new information to us. They were there to save us Time in the learning process.

With that in view, it's obvious that having a guide is the most efficient (and least costly) way to new knowledge.

So, why do we expect to use a different approach to success when we decide to trade the markets?

Could it be because our egos have been inflated with our sense of accomplishment in our careers and day jobs?

The facts declare that whatever field we already know or have mastered, that specific expertise will not help us to be successful in the field of trading the markets of this World.

It may well be possible, for some who enter the markets, but, how they and we became competent in other fields was first through the process of learning from teachers and mentors who were already competent in areas we wished to master.

Successful trading can be and has been taught.

This has been proven as part of an experiment conducted with real money and real students by Richard Dennis in the futures markets many years back. He believed that trading could be taught and set out to prove his theory. He succeeded tremendously and produced traders that are heads of some of the largest trading funds in the World today. Traders who manage Billions of dollars every day.

Their success is legendary and further makes the point of this article.

Fortunately, this teaching process is still available and continuing to this day. There are still those who enjoy passing along their hard-won wisdom of the markets to newcomers and those eager to learn from them.

I will continue to add names and some deeper insight into trading approaches, list more about them and contact information for those interested in pursuing this path to trading success. That information will be posted and can be accessed through the link at the end of this article.

My first very, very short list of "mentors of trading" is in the Forex Market. I will continue to investigate this market and, when I've completed this list, I'll move on to find the very best in other markets as well.

There is another factor to consider when searching out a real master trader and that is the time-available factor. Even the best of teachers have limited time resources and several master traders I've been researching have already stopped accepting new students. They may perhaps do so again. We can only wait and see.

About the author:
Why waste time and money when it comes to trading? Learn the wisdom of Forex Master Traders and their uniquely successful trading strategies instead of struggling and losing Time AND Money. Learn more about WHO is available to teach and their trading techniques.

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