There are many ways to extract money from the market. No method is better than another. Some methods present themselves more often or have a higher win rate but they are not better, they are just different tools. The difference is made within the trader since the trader uses the tool in a manner that is either effective or ineffective.
If I gave a bad carpenter the best saw, the cuts would be messed up and uneven, not because the tool is bad but because the carpenter doesn't have the skill to get the best out of the tool. I can give a low quality saw to a talented carpenter and they will make a work of art because they have the skill to get the most out of tool no matter the quality of the tool.
If you are not improving yourself as a trader, it doesn't matter which strategies you learn or what additional tools that you add to your toolbox, especially if you don't have the skill to get the most out of the tools.
It's better to get 1 decent tool (strategy) and master how to use it.
The goal is to make money not to impress with knowledge. When you have too much knowledge it draws your attention to every area of the chart that is familiar to you. When you focus your knowledge on a single strategy, that is where your visual focus will be on the charts. This is when your setups will seem to jump off the screen for you. You will be so focused that you will start seeing the finer details that separate low quality setups from high probability setups.
So don't try to learn everything. Just learn something that is probable, repeatable, and that you can do easily once you master it.
Every strategy boils down to 2 methods:
1. Trading from an area of value or
2. Trading a breakout
There is nothing new under the sun. These are the only 2 ways of trading, they are just told in different ways by the 'experts'.
© 2022 - 2024 Martial Charts FX Trading™ | FiReZ Trading Strategy™ | The Smart Fibonacci Method™Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones' financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
This presentation is for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.
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