How long do you believe it takes someone to reach the trading level shown below?
Shown are trades from 3 consecutive days of trading.
To help answer the question:
First is learning to spot relative-value shifts, differentiate between speculators and commercial positioning, and know how to play the game - to see opportunities most people overlook.
You can think of this as intellectual property underpinning a successful trading business.
Next is the performance aspect of trading.
Like riding a bike, understanding what you're supposed to do is only a tiny part of the equation.
Identifying up to 10 points of evidence in real-time - while timing trades to minimise how much the market takes and maximising how much you take out of the market - takes practice.
Because at the start - whether it's riding a bike or trading - everyone is awful. Right?
But instead of you facing the daunting prospect of deciphering what mistakes you're making, how to improve, and what areas to focus on - all while not knowing what you don't know...
And even though further skill improvement is necessary - reaching the above level of trading proficiency took 6 months.
So if professional trading firms clarify to recruits - "Don't expect consistent profitability in your first nine months"...
How can someone achieve the above expertise in a comparatively short period?
Answer: Ongoing feedback. And that's the secret sauce in trader mentoring.
Below you can see the feedback accompanying the trading.
The notes are blurred to protect the intellectual property.
Imagine receiving individual feedback and guidance unique to your trading for 9-12 months.
Provided you follow the guidance, it's fair to say you'd see your performance dramatically improve. Correct?
Intuitively, everyone knows you need quality guidance and mentoring to develop successful trading. But the problem is not knowing what type of instruction is effective versus what's simply a waste of your money. Agree?
A mentor in a true sense, teaches someone how to trade professionally using proven industry methods.
They also demonstrate how to trade professionally in a real-life trading environment because practical 'in-the-field' learning is a proven approach across numerous fields, not just trading.
However, the vital piece that develops your trading performance is the ongoing assessment, individual feedback and individual guidance on your progress success.
And critically - it continues for sufficient time - a minimum of nine months - because that's how long it takes.
When you compare five people's performance who all have the same training you'll see five different sets of results.
But that doesn't mean you can't be the best version of yourself if you are serious about trading. Right? And that's all that matters.
And why does it matter?
As Fyodor Dostoyevsky - considered one of the greatest intellectual minds of his era - puts it:
"Deprived of meaningful work, men and women lose their reason for existence; they go stark, raving mad."
It's why people choose to endure a 9-12 month professional trading mentoring program.
Forex and derivatives trading is a highly competitive and often extremely fast-paced environment. It only rewards individuals who attain the required level of skill and expertise to compete. Past performance is not indicative of future results. There is a substantial risk of loss to unskilled and inexperienced players. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent
Editors’ Picks
EUR/USD meets initial support around 1.1800
EUR/USD remains on the back foot, although it has managed to reverse the initial strong pullback toward the 1.1800 region and regain some balance, hovering around the 1.1850 zone as the NA session draws to a close on Tuesday. Moving forward, market participants will now shift their attention to the release of the FOMC Minutes and US hard data on Wednesday.
GBP/USD bounces off lows, retargets 1.3550
After bottoming out just below the 1.3500 yardstick, GBP/USD now gathers some fresh bids and advances to the 1.3530-1.3540 band in the latter part of Tuesday’s session. Cable’s recovery comes as the Greenback surrenders part of its advance, although it keeps the bullish bias well in place for the day.
USD/JPY is looking for direction around 153.00 with key US data in focus
USD/JPY reversal from 153.70 has been contained above 152.70 on Tuesday. Major currencies are trading within narrow ranges amid thin trading volumes. Investors await the release of the US GDP and PCE Inflation figures to make decisions.
Editors’ Picks
NZD/USD: All eyes on RBNZ guidance and new Governor Breman's debut
NZD/USD opened Tuesday at 0.60344, reached a high of 0.60520 and a low of 0.60044, and closed at 0.60480, down 0.22%. The pair is holding well above the 50-day Exponential Moving Average at 0.59041 and the 200-day EMA at 0.58545, with both averages rising and spaced roughly 50 pips apart, confirming the underlying bullish trend that began from the January low of 0.57110.
AUD/USD extends the bounce, focus back to 0.7100
AUD/USD adds to Monday’s optimism and approaches the key 0.7100 barrier ahead of the opening bell in Asia. The pair’s positive performance comes as investors keep assessing the hawkish tilt from the RBA Minutes and despite humble gains in the Greenback. Next in Oz will be the Westpac Leading Index and the Wage Price Index.
Gold remains offered below $5,000
Gold stays on the defensive on Tuesday, receding to the sub-$5,000 region per troy ounce on the back of the persistent move higher in the Greenback. The precious metal’s decline is also underpinned by the modest uptick in US Treasury yields across the spectrum.
RBNZ set to pause interest-rate easing cycle as new Governor Breman faces firm inflation
The Reserve Bank of New Zealand remains on track to maintain the Official Cash Rate at 2.25% after concluding its first monetary policy meeting of this year on Wednesday.
UK jobs market weakens, bolstering rate cut hopes
In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.
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