Most people rush in without a thought about the basics
Like most things in life you have to know the basics before you can really start improving your performance. Most people sidestep the basics and that’s why they never really succeed. Whether it’s sport, careers or simple hobbies you like doing…no one becomes a Pro or extremely good at those things without solid ground work on the basics.
Just for a minute think of the old fisherman you see around the place. They always seem to be walking around with caught fish in their buckets. How can that be?
Well it’s quite simple. They are experts in their field. They learnt the basics and then built on them to hone their skills.
So when they look outside at the conditions they know straight away if it’s going to be good to fish, they know the tide schedule, they know what bait to use to catch the fish they want, and they know how to rig up the hook and sinkers for those specific fish.
You can be sure he took the time to go through the basics and that’s why his performance some 20-30 years later is so amazing.
Fishing is an art …. the same way trading is and it’s about time you started thinking of it like this.
The basics provide the foundation from which you build your skills on. So it’s massively important you spend most time on them before you get going. If you skip them or simply glide over them then your foundations are going to be unstable and your likely to have trouble down the track. You can be sure he took the time to go through the basics and that’s why his performance some 20-30 years later is so amazing.
I actually believe they have an exponential impact on your overall performance. So what may seem like an inconsequential point at the start turns out to be the deciding factor in your long term success as a trader.
Let me give you a prime example that everyone flosses over but in my view is the most important: Capital Management
I’d have to say our Capital Management structure is probably one of the most logical, easy to understand and yet most advanced systems going around. That’s why it’s awesome.
But funnily enough after reviewing the analysis on the training modules it was one of the least viewed sections.
To me… that’s completely insane!
But i can understand the logic of the traders starting out. They want to trade. They want to know why it’s going up and why it’s going down. They basically want all the tangible stuff to enable them to trade straight away. I get it!!
But traders you need to get this. If you brush over Capital Management then your chance of overall success is probably reduced to close to 0%. That’s right…. ZERO, ZILCH, NUDDA, NIL!!!
So it doesn’t matter how good you are at identifying the trades because at some stage your capital will blow up in your face and you’ll have no cash left.
So what do I say?
Start with the basics…..
First, the FX Kickstart Series … it may seem unimportant but believe me there’s bit’s and pieces in there that are really important.
Second, the Pro Trader Course … this is extremely extensive so take your time grasping the difference between trading conditions and how to read the market fundamentally.
Third, the Advanced Trading Strategies … these are specific strategies to enable you to take advantage of certain market conditions and set ups.
If you go about building your foundations this way you’ll be able to expand and improve your overall trading performance by bringing in additional tools and resources.
Most of all you’ll understand everything you’re doing and this is when you will really grow as a trader.
Once you’ve got your Capital Management structure set then it doesn’t really matter what you do, as you’ll be protected at all times, as long as you adhere to it.
It’s that simple. One small component makes all the difference!
So please take your time and go through all course components and if you don’t understand something then simply ask the question.
That’s how we all learn!