Beginning Forex traders often find themselves puzzled when they make their first practical steps after learning some theory. It turns out that almost everything in the trading environment is… not exactly what they expected to see. Sometimes, there is a huge gap between theory and practice, so rookies feel unsafe and are afraid to make even a slight move…
On the other hand, there are brave rookies who love adrenaline. They learn some fundamentals and start trading off the bat. They trade big, they switch to the 5th gear and go full throttle as they see the green light ahead. And suddenly, after several major wins, they get a losing streak and eventually go broke as the market has gone against them as well as against the theory taught to them. Stubborn traders keep making deposits and losing time and time again, thereby turning into habitual losers.
Anyway, both of these categories of beginning traders are in bad positions against the market. They are on the verge, so to say. They are surprised. They repeat “But we thought…. But we were told…. But Soros and Williams and Elder did the same… ”. This is the biggest mistake any Forex trader can make. Everyone is responsible for his/her own success. Knowledge and skills as well as multiple trading strategies and approaches given by trading classics are nothing but useful tools in the right hands. These are not a “Holy Grail”. They cannot make you a winner 100% of the time!
Everything Is In Our Hands
Everyone should build their own strategies based on what they were taught by professionals from Masterforex-V Academy. This is the topic that was considered during a workshop by Yuri (the_teacher), a professional trader and a member of the SRP Department of Masterforex-V Academy. The week-long live workshop was unique because the instructor opened and closed trades in real time while the audience was watching it and getting detailed explanations of his actions.
This is an unprecedented event in the Forex training industry. Anyone could watch live trading by following the link given on Masterforex-V Academy’s forum for traders and investors.
Why did a professional Forex trader decide to conduct a live master class?
The thing is that people often complain that multiple training sources on the Web claim to provide premium-quality tutorials but they never show the actual trading process in real time. Unlike other training projects, Masterforex-V Academy decided to respond to the criticism by proving that its traders can trade profitably. That is why a Masterforex-V Academy member was asked to conduct a week-long live tutorial to prove everyone that the stuff taught by Masterforex-V Academy in general and its SRP Department in particular can really turn you from a habitual loser into habitual winner and allow you to generate stable and decent profits.
Yuri underlines that it is crucial to let the trading system through yourself, i.e. to adapt it to your own peculiarities.
Tutorial Overview
The unique workshop last from Monday till Friday (February 4th-8th 2013). The tutorial was conducted in the open part of Masterforex-V Academy’s forum for traders and investors. So anyone could visit it. Every day, Yuri shared with the audience his tips and tricks and showed them trading signals in real time. He opened and closed traders, simultaneously explaining every single step.
As a result, he made +321 points in 5 trading days! That sounds impressive!
Over the course of the workshop, several topics were touched upon:
· How to analyze the current market situation BEFORE the European trading session?
· Determining the direction of the forthcoming trend.
· Waiting for suitable conditions for entering a trade.
· Entry points.
· Live trading (how to follow a trade, where to place stop-loss orders, where and when to close it etc.)
Here is an example of a live trade:
1. Conditions for entering a trade on the M1 chart:
· The price breaks the Sloping Axis – wave C is completed.
· The Main Line of the АО_Zotik indicator has broken above all the previous highs.
· There is a chance to see a hidden wave B on M1. If the price fails to fall below the levels of the hidden wave, we may try to go long.
2. Going long according to the plan. Stop-loss – 11 points away. Reasoning:
· M15. The price has rebounded from the lower border of the larger flat zone.
· M5. The Main Line is still above the Support/Resistance Line.
· M1. The price has failed to break below the levels of the hidden wave.
If the trade turns out to be a loser, the stop-loss goes off, thereby cutting our losses.
However, the price goes in the right direction. The stop-loss is placed at the breakeven level.
We continue to follow the market. If the price reverses and catches the stop-loss order, we will check the integrity of the momentum structure of the current move prior to making any further steps, Yuri says. Until then, the integrity remains intact.
Yuri kept trading and explaining the entire process for an entire trading week. Over the course of the week-long workshop, Yuri shared with the audience tons of valuable information on multiple issues, including the trading system developed by the SRP Department of and his own solutions. He also explained the advantages of АО‑Zotik and WPR_VSmark, two of many exclusive indicators developed by local experts.
Yuri repeated the major reason twice (at the beginning of the workshop and at its end):
Profitable Forex trading is possible… and it is possible to make money due to solid understanding and decent skills instead of luck. It is necessary to find your own way to success rather than copying someone else’s success. Masterforex-V Academy can definitely help you with that!
