Universal Market Trader Trading Blog

1. Fear and Greed
2. Trading profit potential is recession proof. World economy does not affect the profit potential.

1.- Poor risk management / Lack of formal education
2.- Stocks profit is barely 100% and it takes lots of time.. Forex works both ways up and down markets

Answer to Q1: Indicators on chart are not very clear. It is neither here nor there and it is often subject to interpretation. With poor discipline I often ended taking a unsuccessful trade. To make matter worse I sometime entered trade with no stop loss hence resulted in massive loss.

Answer to Q2: To be honest, once bitten, twice shy! Although I still have an account with a broker but I dare not trade for a long time. Unless somebody can provide me with a indicator that can make my trade preemptive and unemotional like what I had seen briefly on your video. It is clearly not worth the while to be glued to your screen. So if I have that kind of invisible guidance on my screen I will definitely be drawn back to forex trading again. I need to be a consistently profitable, otherwise it is a no go!

1. Emotional Trading
2. The prosepct of quick profits.

The biggest obstacle to my success has probably been me…I tend to over analyze things too much and have never been in a position where I felt completely comfortable financially to make a lot of trades. I made a few investing mistakes in the past and have felt the financial squeeze and as a consequence and very gun shy now. This is were fear of loss leads to analysis paralysis. I am confident that I will one day be successful but I need to find a way to become more confident and comfortable with a particular trading plan or program. One that will show me a logical methodology and show consistent profits with minimal losses. This is why I am considering your program.

I have considered a number of different investing strategies and investment vehicles, however I feel that the Forex market offers one of best combination of risk to reward factors and liquidity which should allow me the opportunity to make good trades with good potential for profit with the ability to get in and out of positions quickly.

Thanks for your consideration.

All the best to everyone!

I am still a novice. I am not that quick in learning how to use the software for risk management. I seem to get mixed up with Limit
and Stop order features. Different forex has different method of
usage. I tend to get confused.

Sometimes, the indicator tells me it is going down, when I hit the
sell key, the currencies keep going up. Perhaps, I misread the
indicators all the time. Everytime, the markets went against me
even though I follow the indicator’’s directions.

I am glad I am still trading on the demo platforms that allow me
to make all the mistakes on the planet.

Thank you for letting me participate to win the prize. I do hope to
win.

Best personal regards,
Helena Ho

Question No. 2.

I hope to work from home to provide an income to
help my siblings and mother.

With the extra income, I can pay off my own expenses
and continue my education through long distance.

The above two are my current priorities to fulfil my
life long dream.

It is very kind of you for the good work you have extended to
help others. I am touched by your gestures and wish
to show my appreciations.

Thank you again.
Helena Ho

(1) The confidence to trade great set ups and let the winners run v/s alternative small risk and small rewards. Even though I understand for instance that its the 1 or 2 winners that will take care of the 5 or 6 managed losses, i find it hard to act accordingly hence I cut my winner short and the end result is ???
(2) Forex is limited to manipulation unlike equities with the market makers/floor traders involvement, that way even though large institutions may manipulate slightly, they don’t have to singly or jointly move markets. Watch you see on charts is what you get as that is actually happenning – this characteristic, high liquidity and 24 hours multi global session opportunituies to trade make forex an excellent chioce.

1 Impatience and Greed
2 – The potentual to make enough money to live well and to help other people less fortunate than myself

1. Better risk management in today’s volatile FX environment. On my mechanical (self-placed) trades I use support & resistance levels/channels and check Fibos to improve my chances of success, but trade-for-trade at the end of the week I am still finding myself with a negative balance. I have AI systems that trade better than I do and I would like to overcome that.

2. Forex trading has the advantage of allowing one to trade with leverage when stock/commodity markets are closed. The spreads per pair can be determined and managed, thus reducing broker expenses. Trades can be long-term or “day traded” determined by acceptable risk.

1. Missing a good training material and education someone can teach you how to do it.

2. 1 trillion US dollars, Today The Forex market has is the largest Trading market with daily turnover of around 2 trillion US dollars. there is a lot of opportunities if you got the right training education.

1.) one of my biggest obstacles to success has been a lack of confidence in my trading. After a short string of losers I would freeze up and not be able to pull the trigger on the next trade which of course would have been a nice winner. Adding to my anxiety was my small account size. I could not emotionally allow a trade to go too far against me without bailing out only to see it race back in the direction I had traded it.

Another obstacle was not having objective Stops and Targets. I would initially place a stop-loss at some support or resistance level which worked part of the time but then I would tend to move my stop as price got near in hopes it would turn in my favor. Bad Idea. Once I was in a trade I would attempt to kind of “read” the market looking for a stall or a slowing in the market prompting me to exit. This strategy got me out of winning trades way too early or a lightning fast reversal would plunge me under water causing me to emotionally exit at a loss. Many times after seeing a trade move into profit and then reverse, it would creep toward my stop so I would move my stop hoping to “give it room” to get back to profit only to take a bigger loss. What a vicious cycle!!!!

One last obstacle would be listening to too many Gurus hoping to find the “Holy Grail” of trading. Most of what I have learned from online gurus has been utterly useless and distracting. It is a frustrating search that will likely steal your joy of trading as well as your hope in mankind. Some of these people just want your money and care nothing about your genuine success.

2.) I am drawn to Forex because of the flexibility it offers. I still work a full time job so I can’t trade regular US market hours. But I can trade the Asian session in Forex because it starts about the time I get home. Like Futures, Forex offers good leverage as well. I also like the smaller account minimums in Forex. I can’t start with a $5,000 account but I can start with much less than that using Mini Lots offered by most Forex brokers. Some Forex brokers are even offering Micro Lot accounts which can be opened with a few hundred dollars.

I am not a UMT owner. I am saving my pennies though. I have reviewed everything on the site that you can review without being an owner / member and I am very impressed with the UMT software and strategy. It is quite clear that had I been able to employ the UMT strategy to my Forex trading from the start I could have side stepped all these obstacles mentioned above. I get very excited when I consider the possibility of implementing such a comprehensive program to my trading.

Thank You,
Justin.

Here are some obstacles to my success in trading. This may be hard to admit, but when I look at a chart, let’s say I just opened a chart in Metatrader on some time frame, the price action sometimes looks like a confusing mess to me. I might be looking at too little data or too much. I can’t tell what is going on. Then let’s say I am trying to follow some day trading rules which should give me an entry setup once a day, well I’m not content to sit there and wait for that setup to come around. I want to find a golden opportunity to take in the next 5 minutes. That might be impatience, call me jumpy. As it is now, I don’t actually have a set of rules or working system that I’m confident in. Let’s say the market might give a really good trade once a week for a setup, and then the rest of the time the market conditions if I were to take the setups would chop me up. That means if I sit down to trade I don’t know when the next apparent setup is going to be good, so then I don’t have enough confidence in the system to follow the rules.

I’m drawn to trading the Forex market because I can trade it with a small account (less than stocks or futures) and it seems to have the ultimate bang for the buck (higher leverage than the others) which means I can maximize the reward for the time in trading it. The Forex market is not just limited to that because it is also the home of some of the worlds largest traders. Ultimately I want to be a profitable trader. I know I can even put my IRA money into it someday if I’m good enough, when that someday comes.

1. Consistent process with known risk/trade and account size required for success.
2. Limited number of liquid markets that helps keep it simple to choose the markets to follow.

1. My biggest obstacle is Me, Myself and I!

I’ve been day trading Forex for 2 years now with limited success. Even after studying trading discipline and working on applying it, when the trades are on, I still do all the things you talk about… hesitating getting in – especially after a losing trade, not taking some of my trades, taking trades that don’t follow my rules, and here is my big one – getting out of trades before my rules tell me to. The ones I get out of early, seem to always go in my favor afterwards, costing me pips.

I know in my logical mind exactly what I’m supposed to do, but when I’m in trades I do things automatically (without thinking), and then after the fact wonder why I did them. I do things I know I’m not supposed to, even after people like you tell me I’m going to do these things and I’m watching out for them!

To me, psychology is the hardest part of trading. I’ve gradually gotten better by journaling and evaluating every trade, but I’m far from where I want to be.

2. I’m drawn to Forex trading for several reasons. My goal is to make a full time living from trading eventually, so I have freedom and security. I have no delusions of getting rich quick, but over a period of years would like to be able to earn a substantial income. I’ve always liked the idea of compounding money and Forex is a perfect vehicle for that.

I also love the competition of pitting myself against the smartest trading minds and being able to come out ahead.

From reviewing your website, your system looks fantastic and I would be honored to get a chance to use it. It appears to fit my trading style and what you talk about on the videos makes perfect sense to me.

Thank you for generously sharing your trading knowledge.

Kurt Meyer

1.) Control Emotions.
2.) FREEDOM

My problem is lack of training and education. I taught myself as much as I can, now I need a system, mentor, education,training or a combination of to futher my endeavors!!!!

The driving force for me is CONTROL. Then it is the usual, taking care of my family and taking care of people who can not take care of themselves!!!!!!!!!!!

At the end of the day, it is not what you get, it is what you give that counts……….

Roxanne Lennon

1-my largest obstacle is LACK OF DICIPLINE AND JUMPING FROM ONE SYSTEM TO THE OTHER AND POOR MONEY MANAGEMENT
2-iam drawn to trading forex because THERE IS NOTHING BETTER IN THE WORLD THAN WORKING WHILE WEARING YOUR PAJAMAS, BEING YOUR OWN BOSS, PLUS THE GREAT POTENTIAL FOR BIG PROFITS

1. Me…No dicipline, don’t see the FOREX time-Just rush into it, too brave to take a risk in market, didn’t prepare the target…My…Myself that’s the big obstacle…Became a winner in this world is easy, but became the winner for ourselves that’s not easy as what are we think…That’s it
2. Because I think forex is very liquid market, a little manipulation(Just the broker’s platform, sometimes hang up/can’t close open position), and because i’m so interesting to study something about economics in my young age…(i’m 19 years old now) and I’d entered FOREX market since 17 years old… Stock market 15 years old.That’s it i think
Happy trading

Thank you

Alvin Sanjaya

Biggest obstacle: Fear of loss, not understanding how to put sensible stop/loss and profit take measures in..when I win I win small when I lose I lose it all.

I am drawn to Forex because of basic numerical ability, believing that many times it is simple things that move the markets(election of a new president..dollar up initially….UK Banks funded and funded again..pound goes into free fall…so it should be straightforward to deal in without having to understand company balance sheets, figures etc etc I am not averse to this just have absolutely no experience of it.

1. Lack of discipline to follow my plan to the core has been a major factor to my success in forex trading.

2. Being able to work from absolutly anywhere in the world so long as you have internet connection really thrills me. Then of course forex is reccession proof. When others are crying you are still making the money.

1 NOT ABLE TO LOCATE EXACT ENTRY AND EXIT POINTS, PLUS A BIT OF GREED!
2 ABILITY TO TRADE AT YOUR OWN HOME, WITH FREEDOM, THE CHALLENGE AND OPPORTUNITY IT PROVIDES.

Three years ago my husband and I were sitting in a meeting with our financial advisor. My husband’s business although small was becoming successful and we had to restructure our finances. While the advisor was nice enough to answer my questions, I had no foundation to judge his answers. I understood the words but had no clue what he was saying. He was speaking a whole different language. I felt so awkward and intimidated at that meeting. Here we were, blindly trusting this person to do right by us with my husband’s hard earned money and me not having a clue if they were doing the right thing or not. I immediately felt like we was letting the proverbial fox guard the hen house—Yikes! After that meeting I was determined that I was going to learn all I could about investing. After all, I studied engineering, I understood calculus & physics; I successfully home-schooled my daughter through the 8th grade (she is now an honor roll student in a traditional high school). I felt that I was smart enough to learn this stuff and I had the time to. If nothing else, than to just understand what our advisors are instructing us to do is a good thing or not.

That meeting with the financial advisor began my insatiable appetite to learn more about money. What I wanted to learn wasn’t taught in the colleges so I learned by attending seminars, webinars, trading programs, and reading every book I can get my hands on. I even volunteered my time to help a friend teach a high school Economics class so I could learn more about macro economics and also to help open these young students eyes to investing and give them a few tools from what I had learned on how to select an investment–those things I wished I had known at their age.

I have learned so much since that meeting 3 years ago but more importantly I have learned more about myself. I never thought that I would love to trade! It is my goal to learn enough and to be consistently profitable enough so that when my husband decides he is ready to retire that we could still generate income and not be totally reliant on our retirement savings. While we have been putting aside money for our retirement we have only been able to save enough money for my daughter’s first year in college. It would be nice if we could fund her entire education without taking out a loan. It is also important to me that we are comfortable enough financially so that when my aging relatives need help, and they will, that we will be in a place to help them without jeopardizing our own financial position.

I have learned that money seems to flow between different markets depending on the financial climate and that the different financial markets influence each other, particularly in this global economy. If I limit myself to just one market then I am limiting myself to just to one piece of the puzzle and thereby placing my money more at risk and limiting potential profits. When I began this journey in trading, I determined I would learn all I could about trading stocks and equity options, then my eyes were opened to other markets of foreign exchange and commodities. While I have not learned all there is to trading stocks and options I feel I am at a point where it is now time to learn to trade forex. I have learned so much from UMT Blogs and would count it a privilege to have his program be my first step in trading forex. I think I am ready to take on a new challenge and learn another market in forex.

Lastly, trading with FX Live will fine tune the skills I have so far, as well as provide the remaining pieces to the puzzle. I believe this course will finally give me the tools I’ve been lacking and allow me to reach the above goals.

Thank you for giving me this opportunity. I really enjoyed writing this and reflecting on my journey in trading thus far.

1. Obstacle — CONFIDENCE! I experience too much emotional attachment to being “wrong”. losing money, failing. I think traders generally fall into 2 types: gamblers & analysts. I feel too much concern that I over-analyze and that I ALSO jump too soon. (I think I’m kinda both types.)

2. Forex is amazing — it’s hard not to be drawn to it. The problem is that it can swallow your bank account all too quickly. The ability to be consistent and disciplined in thinking, set-up a trade with a good risk-reward ratio and to SEE it play out to plan is rewarding. And when you make a couple bucks, that helps.

1 Obstacle – Losing money! I have tried indicators, EAs and signals. I’ll make a little bit of money, feel good about it and then experience a big loss. If all these people selling indicators, EAs and signals are making money on forex, why are they selling these products? It’s obvious. They make more money selling than trading. I hope UMT is different.

2. Drawn to trading Forex – I am in need of a source of income for my upcoming retirement in a couple of years. I can see great potential in Forex. I just need a system that I can trust to make consistent gains.

I hope to stop living in a crate underneath the old town bridge – it gets a little cold in the winter when I don’t have enough newspapers to make fire…

Maybe one day I will own my own laptop if I win

Emotion & Greed… (Mostly emotion)

I’m drawn to forex because no other market offers the oportunity of the forex market and no other market is as ression proof… its my drug its exciting.

obstacle- worked hard always only to see others take the money and run (taxes and so on)

forex – being able to go from the 80/20 to the 20/80 or even better yet 95/5 to 5/95 by commitment, discipline, brains, software and ratio – I very much like that, I have been into it for 2 years now, gradually covering more grounds and yes, I like it

Lack of knowladge about tools and Techniques to use them.
No Professional Training.
No Affilation with sucessfull traders.
No good selection of service provider.

I know that trading is a leading business in today’s world and expences are going on, so if you want to live in this world and wants good status you should earn good which is possible through one of worlds leading business plateform selection such as forex. Its gives me all the support(Technical, fundamental,educational, fast liquidity, annoucements, etc). so i think these things are enough for me to come at forex.

1. Having a system that works. I have tried too many systems that only work occasionally. I realize there will be losses but I would like a system that wins at least 60% of the time.
2. The Forex moves. Because of that, there is opportunity to make money. With the right system and the right mental attitude, forex can give freedom to someone hoping to retire soon.

1.
Figuring out a good eenty and exit stratigy. Quite often I have a winning trade that ends up as a loosing trade due to a poor entry or exit.

2. The freedom of being to make a living with out depending on a company that may or may not be there in a few years.

!. My obstacle – highly volatile market , fluctuating in every sec or minute. Plus my emotional attachment if i loose , coz i am so competitive , any loss is like being crucified. plus not not too much income to trade. save then loose it , that is just catastrophioc, like the blunder from the Enron scam.
2. Drawn into forex coz of its high yields in such a short time. Like win big or loose your shirt, but i am very optimistic and a new attitude.

Q1. Mostly the lack of confidence in reading the indicators and the fear that I have misread the indicators and that I may have bought when I should have sold.
Q2. I was drawn to Forex by what looked like a simple enough way to supplement my income to the point I would no longer need to be Just Over Broke.

1.Greed and lack of strong, traders mind. 2, Can be traded almost anytime and anywhere, leverage, best profit potential. Can start with no money down /some brokers will deposit small $ to any open acc./.

1) My biggest obstacle is not knowing enough. I have been learning a great deal since I started trading over a year ago. However, many of the circumstances that I am faced with every day are new ones. Unlike a knowledgeable and experienced trader, I don’t know what will happen given a certain set of daily conditions. I can look back a month or two months and know that I am learning because I understand the technicals and and the fundamentals much better, now. Sometimes, I can see things really clearly and a stock or currency reacts like I predicted and sometimes it is really fuzzy. There is so much more to know and I’m sure I can achieve that level of understanding.

2) When I was a kid of 16-17, we would get the racing form from the local drugstore, study it all morning, and then go to the track to bet on the horses. I was really good in math, so, I would pour over the stats and make my picks based on the probability of picking the winner. When I picked right, I would get a real thrill. Studying and trading in Forex reminds me a lot of that childhood experience. I love pouring over the charts and stats, in Forex, when I make the right decision, I get that same thrill as I did picking the winners at the track. Incidentally, I broke even at the race course. I am older now and hopefully more sophisticated. I am finding out that Forex is more predictable than betting at the track and there is a great amount of information available to be able make good decisions. I should point out that I am only doing this in a practice account. I feel that I don’t know enough, yet, to do this for real with my own money. I can see that those people who have done their homework and understand the Forex markets, really do well. I would like to be one of those people.

1. Lack of discipline and emotional intelligence. These are the core obstacles that can prevent Forex success. Its a procedural process that assists winning more over losses within a given time. You can not move forward unless you know where you came from.

2. Forex trading over stocks trading can be a lot more flexible and cyclic in various situations and trading systems. Technical and fundamental data can be easily captured.

1. Trying to out-think the trading situation instead of sticking to a set of rules. Thinking is dangerous and it is best to operate in a fairly mechanical methodology.

2. The attraction to Forex trading initially has to do with that as a teenager, I lived overseas and I used to buy and sell the local currency at banks.using the US$ as my offset to the local currency, which was Swiss Francs. I like the concept of bieng able to trade 5 full days per week in a dynamic marketplace, versus the opposite of say for instance municipal bonds, which is opaque and rife with unseemly markups and manipulation.

1. I tend to cut my winners too quickly and let my losers run.
2. I would like to trade forex for the fact that it is liquid, can be leveraged and there is no day trade rule as there is in trading equities or their options.

(1): Have had some valuable information from a very few sources. Not able to be consistant when the info or methods used are either faulty or worthless. Then you finally learn th first real truth: I am the weakest link in the trading chain. Now I can start to see that it takes a real, reliable, proven system. It also requires the discipline to execute the system by the book. You must trade as the system directs. But to do so you need to trust the system, or fear and greed take over. Successful trading is simple, but it is not easy!

(2): I have traded all sorts of instruments. Forex offers the best market structure of any I’ve tried to trade. Doing it properly with consistant earnings is my ultimate goal in trading. I would welcome the chance to become involved in a real method of trading and training.

1. Impatience and fear. I have been at this for nearly three years and have not been able to achieve any consistant success.

2. I recognize that Forex has the potential for consistant, steady, profits for those who understand what they are doing and can execute the proper system(s) on a consistant basis. This is not a market for those who lack discipline, the tools, and the will to succeed.

1. Lack of knowledge.
2. Proper Guidance.

Q1 Knowing which of the technical signals is the right one ,when to enter and when to close.

Q2 I like the liquidity, always a bull market and ability to trade for profit at anytime.

1.I LOVE THE EXCITEMENT OF PROFITS FROM AN UP AS WELL AS A DOWN MARKET.
2.MONEY, MONEY, MONEY! TRADING MONEY THE ULTIMATE LIFESTYLE.

1. Knowing when to get in and when to get out. I have let my profits turn into losses, but nearly all of my losses stay as losses. A trading system that works. Basically, one that defines your exact entry and rules that define your exit. Having the courage to get back into a new after a series of loosing trades (it seems to squash my confidence some what).

2.The excitement and thrill of a winning trade, the leverage FX offers, the volatility of the market (when your heart beats that bit faster when you have a big win and the adrenalin and high you get, not that it happens very often, but it is addictive), and the 24hr access (trade when you want and where you want).

1. I tend to go for scalping and as such do not exude much confidence.

2. Trading the forex can be executed within the confines or privacy of my home.

1. Fear is one major obstacle and 2) It is because forex can be traded at any time of the day.

(1): My biggest obstacle is a lack of confidence in myself (I’m still only paper trading) and often misreading the analysis of the movements. I place a trade that seems to be following the trend for a currency pair, but it usually goes the opposite way. (If I go long on the trade, the movement ends up going short — and vice versa.) I often wonder if I’ll ever learn enough to start trading with real money.
(2): The FOREX market seems to offer the best opportunity to earning extra money. If I can start consistently earning more than losing in trades, I will be able to accomplish some of the financial goals that I cannot with just a job.

1. I would say the obstacles are lack of training, lack of confidence, and not having a realistic trading plan. This leads to losses out numbering any gains, and the drawdowns become hard to handle. I Have now turned 60, and wonder will I ever be able to do this. / It looks so different when I have viewed a UMT session, and see them go from one market to another with the confidence that they can get in, and then get out ” with a profit “.

2. I have a desire to pursue the Forex market because : it is so large there certainly must be room for a small guy, ” with
a system ” to be able to make a living doing this. The fact that it is available 24 hours a day makes it accessible to anyone’s schedule, and the volume and volatility seems to make for easy entries – exits without much slippage.

Thank you for this opportunity with our responses, and more so for your system and your outreach to new traders.

1. I really have several identifiable obstacles. First and foremost is my ability to get out of a losing trade. Typical, it will come back mentality. Which leads into money management issues. Which leads into having to start with a small account and not having the patience to build the account and not blow it out.
2. I have a desire to pursue the Forex market because : Seriously, this is some of the most interesting trading around. Its simplicity is exciting, yet its complications perplex the mind and make you step back and say WOW! That should be so easy yet it isn’t. I want to learn to control as much of the beast as I can. I want to make this my retirement gig by the time I am 50.. Only 4 years to get it done… hmmm.. I think I can, I think I can… And then once I am confident.. Oh to teach the childrens how to do this so they don’t have to work for that D*** Jerk in a 4×4 cubical. Was that in my out loud voice? Really, I dig the Forex and want to play…

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

The main obstacles I have faced is no having a clear-cut strategy for evaluating potential trades. Knowing when to get in, when to get out and how to manage risk.

2. “Why am I drawn to trading the forex?”

The convenience of a 24 hour market. and being able to use leverage to my advantage (which, if I’m not careful can also work against me; that’s where my risk management comes into play). My ultimate aim is to be able to have the freedom to give up my day job and trade Forex Full-time.

challenge- clear ,insightfull intel

motivation-gee,tough one ???, M$O$N$E$Y ???

THANKS,for being open to my INSIGHT ,RIGHT !!!
jimcalocci@yahoo.com

1. Hesitation 2. Leverage, liquidity, trading times.

1. Lack of Knowledge, Information, and Technique

2. Forex moves quickly and offers the opportunity to make fast sums of money in a short time and can be worked just about anywhere in the U.S. or the world. And so could I.

We all like the ideal of having the freedom to do and go as we would desire… And that is what draws me

Hi There
I Had very Good Success in the Begining like Beiginners Luck
So I lost every thing with in no time

1. Lack of confidence in myself, which leads me to doubt my trading signals, which in turn prevents me from pulling the trigger or closing profitable positions far too early.

2. The FOREX market is a vehicle that can potentially allow me to support my family by trading full time, espcially since I’m in a protected group as defined by the Civil Rights Act of 1964 where I am vulnerable to an employer committing age discrimination when it comes to my hireability. Even if I wasn’t in a protected group, my employment prospects are extremely limited anyway given my specialized skillset and the fact that I have been out of the field in which I was originally trained for 10 years now.

1.My biggest obstacles are confidence in my understanding the market and what technical should I use to help guide to an entry/exit.I also would like to have available some to discuss trades and l can learn about different trading plan.
2.I like the challenge it gives,and the chance to make money LOL

question #1
Using several indicators when it looks like a trade I enter and the trend immediately reverses…I am just not seeing something correctly. I am self taught and read everything I can but I am a hands on person and believe I can be successful in this market.
Question #2
Forex trading is fast pace especially when using 15 min trade sequences.. I am a Disabled Veteran and lost my retirement due to this economy and Bank closings. My resume’s for security consultant is not up the technology of today and receive a response that I am over qualified for the position. Forex trading is the only means that is available to me to try and re coop some of my lost finances and enjoy doing it..

1. The patterns I tried to trade switched on me as soon as the trade was down. If it was a long term pattern, I got stopped out or lost more money than I should. if it was a short term pattern, I would get stopped out. I had a few big wins, but all the loses got me.
2. The size and leverage of the market and the need to only follow a few currencies instead of many stocks. The trading tools available on-line were also a factor even though I apparently didn’t use them correctly!

Q1. Probably one of the biggest reasons is finding a system/method that I am really comfortable with especially when it comes to taking a loss. Something that is quite accurrate and good. I know there is no Holy Grail but I do believe that there is some thing out there that can get me a piece of this Forex pie.
Q2. Why I am drawn to Forex. Well it is the idea and the thought that if you can tame this beast a little you can have financial freedom. Also I love the excitement that is there to trade any time of the day. I love trading!

1. “What type of obstacles have I run into in the past that have prevented my trading success?”
My biggest drawback is trading the Australian share market and that it is not ‘liquid’ enough. All to often I have trouble getting into potential trades due to not anough activity/flow/stock being available. I believe with the FOREX market I can alleviate this problem.
2. Basically covered by No1 – but – also the ranges are more ‘fluid’ and less prone to gapping etc.

Would love to attend this course/seminar/workshop & am sure I woudl find it of incredible value.

I watched my 401K dwindle to nothing with “Money Managers” & feel that I need to take charge of my fininces myself. I am 72 yrs young and to be “duped” by finiancial advisors that used my friendship for there own possoble gain is very hurtful ,so it’s time for me to get in gear ..

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

Ans) Lack of funds.

2. “Why am I drawn to trading the forex?”

Ans) Little funds required.

1. it’s hard to identify the entry signal, sometimes it’s hard to distinguish whether it is trend reversal or just correction.

2. the leverage and the market hours in forex possibly me to grab much money without sacrificing my time to doing my own businesses..

1. The psychology of trading Forex and the correct set-ups. I am my worst enemy. I tell myself I have to get the money (I just lost on a trade) back again. Thus, I revenge trade. I tell myself that I just can’t be successful at trading the Forex (it’s too complicated) and guess what, I start to fail. My subconscious is powerful. The other obstacle is not really knowing the correct set-ups or conditions under which favorable trades should be taken.
2. I continue to try Forex because it is my hope that this can help me in my retiring years to replace income. I’m not sure how long I can continue to keep working and Forex is what I’m counting on to help supplement the income for my wife and myself. I feel I am not dependent on the sentiment of the stock market which is so fickled but rather on a much larger financial environment. Money can be made whether a currency is going up or down. It opens up my chances for success.

The obstacles of a novice trader are many. Three are:
(1) master the skills of risk management from the author.
(2) learn to become a disciplined trader following some basic
training guidelines and rules from an expert..
(3) emotional control.

I am drawn to Forex trading for liquidity
and able to work from home and
relaxing my voice from extensive talking. Work
quietly with no phone calls to make and at my
own pace.

1.I wasted thousands of dollars on Black box and EAs or “professional” systems like UMT, when all I needed was Elder’s classic book Trading For a Living.
2. All markets react to supply and demand and greed and fear, so once you know what’s happening, leverage with limited total loss (unlike futures) is the market to trade.

Q1 Not having a plan and or not trading to a plan. Need to overcome emotions and not taking a trade because it looks good.
Q2. Because it is almost 24/7 trading opening and closing times from 4 major markets limited to approximately 6 major pairs, relatively simple indicators and only just a “pip” spread.
Whereas stock also has commissions and can only make
a profit one way or options involving a complicated set of criteria ie numerous strategies, complicated ‘greeks’ etc.
The FX enables me to trade at any time I choose and with intraday trading, the prospect of making trades in a short time span at a time that suits me is very appealing.

1- I read somewhere that trying to figure out where the Market is going is like a Flea on the Elephant’s back trying to direct the Elephant’s route. Knowing the previous routes and knowing the habits are usefull, but not 100% garantee. Then if you listen to the news the Gorus are spinning out, like: ” The American dollar is getting stronger against the Euro” sure enough, it will go the opposite way first, then perhaps it will get stronger, and by then I’ve lost another big chunk of my Account. Why, because even though all the indicators are going the wrong way, you still beleive it will turn any minute now, the Gorus said so, right!
2. Because everytime you learn something new and think you now have experience on top of your “Little” knowledge, you see a great potential. Unfortunately there’s always something new to learn. Someday I’ll get it right.

Doubt and Desire

1. Though I score a few winners in the stock market my success is not consistent. People tell me to make a plan and write a log but nobody gives me practical advice how to do it. So I trade with doubt and I am left with my desire to get a handle on the market. The markets seem to always be moving in the opposite direction of what I expect. So I need to learn better.

2. The Forex markets seem to allow more flexibility and a better time horizon than the stock markets. Besides, profits may be higher. That I want to learn about and hopefully use to complement my retirement income.

1.lack of monie 2.very fascinating how monie move

1. lack of monie 2.very fascinating, how monie moves

Answer to question #1, “What type of obstacles have I run into in the past that have prevented my trading success?”:

1. Trading in FX is an obstacle in itself. Successfully trading in the Forex market presents many obstacles to overcome before making the decision to click the buy or sell button to finalize a trade. The biggest obstacle I have had, and continue to have, to overcome is myself. My mind, ego, and emotions

I have had to confront the obstacles of:
a. The fear of loosing money.
b. Doubts about open trades.
c. Anxiety before, while monitoring, and after closing a trade.
d. Hesitations resulting in missed opportunities.
A gamblers greed that sets in after making a profitable trade, that leads to
overconfidence.
e. A gamblers greed that keeps you holding on to a trade just a little bit longer,
for a bit more profit, only to see a sudden reversal direction resulting in a
loss.
f. Unrealistic expectations based more on emotion than analysis.
g. Impulsive buys and sells based on your gut feeling.
h. The mind games of self deception that keep you from admitting that you
really don’t know enough about Forex to be making realistic trades.

In hindsight, almost every decision I have made from the moment I decided to start trading FX, right up to my current trading today, were definitely flawed in some way or other. This is because I taught myself, and learned from experience.

Experience is a good teacher but, in most cases, an expensive one. I now realize I should have started out by getting educated and trained in Forex from someone who already had experience. So the purpose of this note and the serendipity (look it up) of the moment fit together quite right.
—

Answer to Question #2, “Why am I drawn to trading the forex?”:

I am a highly analytical person constantly looking for the bottom line in everything I see or do (could be obsessive/compulsive disorder I guess). I have an interest in the mathematical branches of number theory, as it relates to ‘Mersenne’ prime numbers (look it up) and the statistics of probability. Specifically the relation of the Greatest mathematical constant of the universe, the transcendental rational decimal value “e” (you know the drill), as it relates to prime numbers, and also the connection of the ‘Fibonacci Sequence’ (YKTD) with the primes and “e”.

Numbers within the ‘Fibonacci Sequence’ (an infinite series of whole number values) are found in almost every form of life with patterned regularity; and in external processes and pursuits of man. Upon learning that the Forex currency market exhibited, and was also being analyzed using Fibonacci numbers as a guide, I instantly wanted to trade Forex.

And this is the reason, setting aside the fact that as a journeyman cabinetmaker I have been unemployed for 5 years and am in debt, I was drawn to Forex.

1. Like it or not trading requires careful study and lots of practice coupled with capital and discipline. The major obstacle for me was trying to find decent training on how to trade Forex. There are lots of systems advertising guaranteed success in an instant. All of course claim to be the real thing. They even seem to use the same advertising channels. How does one sift through all the $ 97 offers with the counter running in the background ( 32 left) and differentiate them from the $ 2 000 options? If I had to start all over again, I would look for someone to hold my hand for the first month of trading.

2. Forex trading offers flexibility that the stock market doesn’t offer. It is also fast moving and provided greed does not get in the way, offers great opportunities to supplement income.

1 The only thing that stops me from making good money on forex is when the market becomes choppy and i do not see it in time and takes my profit back.
2 Forex is 24 hours a day lots of volatility big moves on important news it is what i have been trading for 10 years

Past failures in the stock and forex markets—lack of discipline and lack of patience are the main culprits. I’ve made a fair number of goods trades, but have made more bad ones. In one particular instance, I hesitated to take great profits–one trading day later, the stock halted, and the entire trade went completely south–woosh…To make matters worse, hype from the investment community days earlier gave me a false sense of security (think BreX). Realizing that I could not trust “professionals”, I see the need to gain my own expertise.

Successful Forex Trading would give me the flexibility to lead the rest of my life on my own terms—time to work out, time to play with my children, time to help others—that is what financial freedom will give me, and that is what I hope Forex Trading will mean to me.

Thanks

1/ lack of experience
2/ OTC 24h market, understanding what is going on all over the world

1. – not have a proper money management plan in place

2. – being able to control the return on my invest in a market which is open24 hours a day – 5 days / week.

1. My biggest obstacle is Me, Myself and mywife!
2. Indicators and news

1. My obstacle has been a block of just doing it–putting in the indicators
and following through with the process of sticking with 1 strategy. I’ve been like
the deer in the headlight-frozen.
2. I’ve always wanted to be extremely successul at 1 thing and have a challenge of
follow-through. I know I can master the sticktuitiveness and disciple that is needed
for successful trading and would very much like to teach my 2 sons to follow in my
footsteps.

1. Poor Calculated Entry and Exit points
2. I have confidence that with a good trading system, I can win up to 70% of my trades and Im sure there is one out there, I just haven’t found it yet

1. What success rate do you think a rookie trader can have in an area that requires high skill and experience levels to trade along with the market forces? I would say not much. Those are the situations I was in and am trying to get out of. I hope I can find some if not most of the answers with your trading systems. I want to learn and trade your systems with the guidance of successful and seasoned traders like you. I don’t have that before and I hope you can give me a chance to overcome these trading obstacles.

2. Trading Forex is very volalitle and liquid. It presents plenty of opportunities and threats during every trading week, i.e., 24-hr per day for five days at a time. You can go long, short, and hedge just like that. No restriction what so ever as long as you can meet the margin. Let’s make some money for once instead of giving them away to the big money exchange banks! I want to be successful and in the black in this market. All right!

1) Lack of proper risk management.

2) Because of Liquidity.

1. My biggest obstacle to FOREX trading is inadequate knowledge and skill. 2. It is a legitimate means of extra income to cater for self, family and paying back to the society at large.

1. I have been trying to learn FOREX trading since mid 2007 by attending seminars but these seminars are not enough to get me adequately grounded in the field. I am scared of staking my hard earned money on an investment the technicalities of which I do not understand. online courses and e-books are pretty expensive. I hope to start trading when I have acquired adequate knowledge and skill in the field.

2. FOREX trading is a legitimate means of making extra income to support self, family and giving to the society at laqrge.

1. lack of knowledge.
2. possibility to stop my daily job and use forex as a sourceof income

1. Lack of discipline to follow a proven trading plan. Lack of a proven trading plan that I have the confidence to follow. Lack of capital to allow correct position sizing. Listening to too many ‘gurus’ who just confuse me with their noise. Letting emotions take over.
2. The desire for a liquid market not distorted by minor company specific events.

Ans 1. ‘demo’ n l’everage’….mostly newcomer traders use $50000 amount in pactice a/c, this is not fair…while they open real a/c far less than 50000, further… in demo they experienced instant execution but as soon as they open with real money, there appear ’slippage’ 2nd main culprit is levarage which is most consistently misunderstood n misused resulting countless traders out very soon with their small a/c say $1000 to $5000
Ans 2: i like fx trading because u can trade from anywhere, anytime n its really challenging….

1.not having a solid plan,ie let profits run and cutting losses short.
2.a much bigger market 2 trillion plus,24 hour trading fits round my job,more reliable charts than stocks.
from val.

1. My major obstacle is lack training and mentoring from those who are good in it. I have problem understanding the nature and behavior of the market, the indicatora are lagging behind. Am having problem planing and strategizing to trade the forex market. I need training and mentoring to get a working knowledge of traiding the forex market.

2. I am drawn to trading forex for the possibilities, making money from the confines of your home, having time for yourself. And for the fact that its a 24 hour market.

the obstacle is 1. impatience,2.overtrading and 3. lack of precise trading system(s).
secondly; I’ve always wanted to be self-employed and wanted to have enough time to spend with friends and families.
thanks.

1. I am fascinated by the concept of winning consistently in my trading with probability as my sword and shield. However, although my sword is sharp and my shield is strong, I lack the discipline to wield my sword correctly and keep my shield up to defend me. Hence my account suffers heavy damage due to my actions, and not my tools.

2. Forex is the perfect arena for the technical side of trading which I and my good friend, probability, love to thrive in. Trading forex also gives me the freedom and dignity to craft a world that my family and close ones can enjoy. Positive expectations and realisations beget positive outcomes. All around me can benefit from the outpouring of goodwill that excess finances generate.

1. lack of patience and knowledge
i thought that forex is just like a gambling so i did not take enought time to study the market and also i rushed and i have loose to much
2. forex is a good business that is not much affected like stock and you are much in control of your investment .

QUESTION 1: Lack of proper forex education and greed
QUESTION 2: I am drawn to forex because i knew it is most liquid with 24 hours opportunity to make money ,and i thought i could easily make good money there within the shortest time without having to do much work

1. Emotion.
2. Flexibility in many ways.

1)
- Luck of pure mechanical non-judgement system, a la forex robot, which will work well without my intervention;
- Too many money, time and efforts spent on numerous trading systems, which are not giving any consistent results
- Luck of time & knowledge to seat & program my own trading system, where indicators will show me potential trading signals and I’ll execute order
- Luck of proper and simple leading & lagging indicators
2)
Fair play, easy rules, world-wide accessible market.
Possibility to escape 9-to-5 rats race and devote myself to trading completely.
Business with no boss and no customers – I still couldn’t believe, that this is true and really possible, it is not a fantazy, not a dream.
If it is really working, it’s a Holly Graal!

1. The brokers and the various trading programs NEVER discuss or explain the fees that are extracted from your account. I understand that they are in business to make money, but without a clear explanation, you find your account being picked apart. When the market forms a double top or bottom and the move puts your position slightly behind —BANG– a fee. They don`t wait till your trade is over– it comes out NOW. I understand the reason for this, but it is hard to get trading and have your account drained, even if you trade is successful.

2. 24 hour access to the world markets and without having to call your broker. All the charts are right in front of you, real time. And multiple charting programs are in front of you and can be put on screen and compared.

1, My main obstacle while trading was involved with emotion which often leads me to failure.

2, The freedom, the opportunities and so on……….!

1) Not a risk taker & lack of forex education
2) Potential source of other income

1. “What type of obstacles have I run into in the past that have prevented my trading success?”
Having enough knowledge about the “trading system” and how to “play the game” to feel confident about risking money that I work very hard to obtain.

2. “Why am I drawn to trading the forex?”
As the trading of products and services continue to be on a global scale, currency values will persist to play a big role in the cost of those products. As competition will have it, those currencies will fluctuate so those products and services can compete. Forex appears to be a place on which these fluctuations can be capitalized. However, it still goes back to the proper knowledge and understanding.

1) Obstacles for me are a)Lack of complete understanding. It’s very risky to jump in and start trading without the big picture and understanding how Forex works. Where is the best place to get an account? How do currencies affect each other? Does Forex lend itself more to technical trading? How do I know when to get in and out?

2) I am drawn to trading Forex because it helps me understand the global economy better, it’s very exciting, and there’s always a bull market!

1: Lack of experience in reading price action, and accepting that the market will go where it goes – not where I think it should go!

2: I want to make a living working for myself from home doing something interesting and challenging.

1. Not sticking with one system long enough to get use to trading it. I tend to swich to a different system or different time frame every week.

2. I don’t have a degree, and must work two jobs just to stay above broke. I have been looking for a home business for years, and Forex is the cheapest business to start with the highest profit potential.

The biggest obstacle is myself and half learned systems – enough to be dangerous, not enough to be good

Why Forex, instant IN, instant OUT – unlike stocks etc
I can sleep at night (if I could get the first item sorted)

1. Focus. There is far too much noise out there. Getting and staying focused is my number one challenge. I have had intermittent successes and failures but no consist successes, except for the few times of getting and staying focused. This could also be described using the word “discipline”.
2. Forex excites me because of the predictability of the patterns, the great potential profitable transactions, and the ability to focus on one or two pairs, during one or two time frames, and be in and out without living in front of the computer. I want a life AND a profitable trading business!

1. the biggest obstacle is the life traiding is so different from teory. If you look at the market back you can always find the obvious signs likde double bottom, tripple bottom, key reversal or anything which is clear. The problem is anything is clear to late for the trader, which is in the market.

2. it is nice to see how easy is the making money. And some days you do!

1. Obstacles preventing my trading success so far is to do with my education – trying to make sense of this wide world of trading and at the same time controlling my emotions, all with minimal support. I believe in the profit potential and want to continue and take massive action, but previously I feel I am trying to jump on the tail of the wave after it has already rolled in and then goes the opposite direction, so I need indicators to get in early on the action. Also, I did not have my own computer and was accessing a friends one, but this has just been remedied.
2. I am drawn to trading Forex because of the size of it, which I understand is the biggest of all markets, which enables huge liquidity and greater leverage too. It really seems exciting, but without support and education, too sophisticated an option for novices.

1. I have fallen for the hype on systems and bought them, to the tune of over $10,000 and have not been able to profit with them. Too complicated once I traded them. Need a system with clear rules, straight forward signals that do not repaint.
2. Forex gives me the freedom to trade on my timeframe because it is open 24hrs Mon -Fri and is probably the only market that once in a trend, it tends to stay with that trend for a while.

1. Getting stopped out too early even though my trade direction eventually worked and not taking profits quick enough.
2. Forex trading is the last bastian of pure capitalism and if done correctly, is recession proof.

1- very poor timing

2- flexible trading hours

1- timing seem to be one, if not the most important thing in trading. without good timing ( in and out) it is very hard if not impossible to trade profitably. You are always in at the wrong time and be stop out, or close a position at very low or no profit at all.

2- Forex market is open 24 hr. a day so you can trade at the hour that suit you, even if you have a day or night work…

I only trade Forex because of the high volatility and the high liquidity.

The method I have been using now for quite a while successfully is waiting for a congestion of 5 or more hours in the 60 min chart and wait for the breakout out of the trading range. Then I pinpoint the entry on a 5 minute chart and sometimes a 10 minute chart. I use my stops on the smaller timeframe. I have been successful in using this approach for a couple of years now. I only take a long position if the daily is in an uptrend and vice versa. This has helped my winning rate enormously and it also helped me to bigger profits.

I am just starting and I am totally LOST< I can’t seem to do anything right
I haven tried and tried and tried again I’m still so far from right , that I have sunk into the cave man times.

My main problem with investing is lacking the technical skill of timly buying and selling
The forex can perhaps give me the added leverage to make successful investment buys and sells

1. I Lack the proper education / training. which leads me to make the wrong decisions that in the long run I lose .

2. even though it’s a volatile market it can never be saturated. trillions on dollars traded on a daily basis. you work at your own pace. when things fall into place i’ll be able to meet most of my financial goals

I have over the past 4 years come to see that the confusing worl of indicator use is one of my biggest problems. Also the emotional side of trading is a big holdback for me. I have lost most of my account, but i won’t give up. As far as why, i first saw this opportunity when i was looking for work to do from home. I became disabled, and needed something besides Social Security. I could see, and still see the potential in this market. Where else on earth can you make this kind of income, and never worry about being laid off. It’s great, i just have to learn more.

1. I suppose the number one reason I have not been successful in my trading is a lack of discipline which then leads to fear in my trading. I find myself unable to pull the trigger when I should. 2. I am drawn to FX trading because of the freedom and financial rewards it can give. I have two teenage sons to put through college and I know that this is how I can accomplish this. I will be a successful trader….no matter what it takes.

1.My biggest obstacle is “analysis paralysis”. I feel like a deer caught in the headlights.
2. Forex narrows down the choices you can choose to trade and these markets are not subject to manipulation like other markets.

1. Greed, fear…basically any human emotions may interfere with trading, even with the right and proven trading system, one may fail. Forex is the only market I have ever traded in. I have been interested in forex since I was 15, I started trading demo when I was 19 and started live trading a year later, there was little success no doubt.
One or two wins gets me excited, it’s easy to be blinded by your emotions when trading, and even more so when you’re sitting there day trading and watching the price fluctuating in front of you. One minute, you’re in profit and the next minute you’re loosing.

And with greed, comes impatience. Impatience for success, I owed my dad thousands for university education (still studying) and am eager to pay him back. I was all too eager to take more trades (soon learn that capital preservation is more important).

Of course, 2 years into forex, you learn that not only a good trading system is needed but discipline to follow it and good money management. I’ll never give up on forex, after all there is great potential in it!

So yes, I haven’t made a whole lot of money in forex but I’m hoping to learn more about it.

2. I was blown away by the amount of income many people claim to make on forex and unlike stock or real estate, you don’t need a large capital to start with and since I’m currently a student, forex is the only thing I can afford to trade.

I watched my dad trade stock since I was 14 and I’m very interested in the movement of markets and economy so I hope to learn a thing or two about it in forex.

Last but not least, banks can’t beat it with their interest rates.(it will also be an added bonus if I can finally start paying for my own tuition fees since my dad is already in his 60’s!)

Dear Netpicks,

I have been a salesman for over 30 years and was laid off in October, 09.

I have been trying to trade the futures with little success. Then I found Forex and realize that that is really the market for me. I need help in pulling the trigger on trades that I see and feel that by being in your group with someone who calls call would be a great help.

I feel that the Forex market trends better than most markets and offers one to trade at different time frames which will fit one’s time constraints. I need to make 20 pips per day and hope that your software will be the answer!

Regards,

Larry

1. Poor money management, attempting too many trades
2. Forex market has better liquidity, able to trade up and down, less prone to market manipulation, and less transaction charges

1. Poor Equity management
2. Struggling with trade entry and exit

1. My biggest obstacle is wanting to know what is going to happen before I trigger a trade and a person doesn’t need to know what is going to happen next in order to make money, he just needs to have an edge.

2. I am drawen to this market because it is so fluid and there are a lot of average people making a living at it.

Entering at the wrong time and getting stopped out, resulting
in to much drawdown.
The potential for a positive cash flow has to be there, I just
can’t seem to find it

1. I never had full confidence in my trading system, and then continued to look further for a “better” one. Usually when I found one I felt comfortible with, it usually had a necessary stop loss which was too big for my account size, and/or needed to be glued to the screen all day in order not to miss the trade when it presented itself. Undercapitalized was another issue.
2. It’s a business with relatively low investment, no clientele, no employees, no inventory, no suppliers (other than your broker) and a large potential for profit.

1. Obstacles I’ve faced include: First, I would say that lack of a sound trading plan or strategy would be my biggest obstacle. Second, would be lack of dicipline to wait for a correct opportunity or trade set up to present itself. Third, would be cutting loses short and using stops properly. Fourth, jumping from one trading system or approach, to another and becoming confused. Fifth, trying to trade and under funded account, (position size).

2. I’m drawn to trading forex because: It is without a doubt the most liquid market, head and shoulders above the rest, no pun intended. The ease of entering and exiting a trade, the low margin requirement, the leverage available, the potential to profit and the actual fun of trading, all tend to lure me to forex trading. I can confess, forex trading is in my blood now, I’m addicted and I’ll never stop trading until I’ve reached my personal goal of becoming a full time, professional trader. Trading is not my whole world but, I view it as a highly worthy endeavor to master and hand down to the next generation. Forex trading will definitly change your life. For the better or worse is always our choice.

1) I have taken 3 live trading classes, purchased 7 “black boxes”, subscribed to ? alert services and self directed trading and am still carrying a huge capital loss on my tax return for the last 12 years.
2) Because of these losses I don’t trade live any more. I have 4 Forex demo accounts almost 2 years old and only paper trade stocks because I have lost everything except my ultraconservative retirement account.

an obstacle that i run into is being able to do a basic options trade but not knowing how to independently get out of a bad trade which requires further expense on training and at times one-to-one coaching.
i have a friend who likes trading forex and her enthusiasm is an encouragement to me to look into this market. unfortunately she is new to this and neither of us has any formal training. i would like to one day be able to afford the courses.

1.Over confident, but not enough skill to use indicators.
2. not enough time to follow the screen, because of that, many times wrong position to entry (pending order) and quit to early

Q1 Fear of the unknown Just now I have begun to dip my toes in the water but still the fear prevents further exploration!
Q2 I think a good understanding of international politics is a good base for entering FX trading Currency movements are not as susceptible to influence by individuals ( a certain Mr Soros excepted!) or institutions whereas stocks and commodities are not so protected In other words I believe that the influences that determine currency movements are much more transparent.

1. The biggest obstacle to my trading success has been not having a well thought out plan. There must be a compelling reason to enter a trade and an expectation of highly probable success. Risk must be assessed and limited through the placement of time or condition stops. Trading is a business, not a hobby.
2. The Forex market allows for a trader’s convenience as it is open most of the time. There are limited trading vehicles, yet high liquidity and profit potential. Capital requirements for entry into this market are small. These factors make Forex an attractive market to trade.

Hey Mark, Brian and Team,

First of all, thanks for doing all the great stuff you do!

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

In order to identify obstacles that prevent trading success, I believe it’s necessary to first have a clear understanding of the factors that are absolutely required in order to achieve trading success. If I had to boil all of the success factors down to only two words, those words would be CONFIDENCE and CONFIDENCE. Anyone who has ever been gut-wrenchingly emotionally invested in a trade understands the enormous value of a trading system with indicators and rules that clearly identify when/how to enter a trade and when/how to exit the trade. But even when we are using a system like that, we still have not entirely eliminated the emotional component of trading because we are all humans, and as such, we all retain both the ability and the temptation to break the rules, mistrust our indicators, mess with success and somehow find a way to screw things up no matter how wonderful our system may be. So, in addition to having a good system, we must have absolute confidence in the ability of that system to carry us into the Port of Profits in spite of all of the shark attacks and perfect storms we will encounter in this great ocean of currency exchange activity we affectionately refer to as “The Forex Market.”

My direct answer to the question is that my FEAR (fear of loss), my DESIRE (desire to squeeze every last pip out of every trade) and my HOPING (hoping for a reversal when the trade goes against me) are the three points of the emotional Devil’s Triangle that sink me faster than any external factor that might come along and try to pull me under. But simply knowing this does not solve the problem. I must also know beyond the shadow of any doubt that my ship will sail on to victory if I will simply stay on course and navigate my way around the Devil’s Triangle by sticking to my guns and trusting my system. And I believe FX Live! is that system.

2. “Why am I drawn to trading the forex?”

Having the ability to trade at just about any time of day or night is important to me (for me, that would be Sunday evening through Friday afternoon), but the time flexibility issue is no longer unique to the forex market. What really draws me to the forex market is the essential nature of forex price action. Each one of the three major sessions each trading day — New York/U.S., Aussie/Asian and London/European — tends to have its own “personality,” and the price activity level exhibited by certain currency pairs during those sessions (and during certain times within those sessions) tends to be somewhat predictable. To clarify, I am referring to the likelihood of price movement being somewhat predictable, I am not saying that the direction of that movement is necessarily predictable simply because it happens to be a traditionally active time of day or night for any given currency pair. But the mere fact that I can reasonably expect ACTION with certain currency pairs at certain times of day or night is a major advantage of trading the forex market.

Of course, the next most obvious question is:
What good is action if you don’t have a reliable method for navigating your way through that action into positions that will ultimately place you on the winning side of the series of winning trades and losing trades that you will inevitably be faced with as you navigate your way through the forex ocean? Good question. And the answer is…
That reliable method — FX Live! — has now arrived.

One additional note… My passion for trading and my mission to become a successful trader is actually fueled by my real mission in life…I am a cancer survivor who devotes a huge chunk of daily life to helping other cancer patients via the Row for a Cure Foundation. Rather than spend so much time on fundraising activities to support the work of our all-volunteer charity, my dream is to keep the Foundation funded with my own money so that I can devote even more time to our charitable mission.

Thanks again guys — see you in the FX Live! Kick-Off Webinar on Tuesday!

Rick Shalvoy
Founder
Row for a Cure Foundation

Q1 Without doubt..my own fault..lack of a good, realistic education!!!
Q2 The flexibility of trading forex. I also like the fact that you can concentrate on several pairs of currency, instead of
having to search amongst ‘hundreds’ of stocks.

1) Inability to adhere to a strict trading schedule — my available times vary from day to day.
2) Same as question 1! The fact that forex markets are “always open” lends them to my schedule. Also the profit potential if one is armed with a good system adds to the appeal….

1. The biggest obstacle that I’ve run into with regards to trading Forex was due to the lack of insolvency guarantees in the industry in general, but specifically the problems Forex poses for US investors with regard to funds security in individual firms, along with searching for a Forex firm that does not take positions against its clients and/or actually deals in the interbank market directly (which is virtually unheard of if they’re not one of the major players, such as large banks).

2. I’ve learned to trade the right signals using a disciplined approach in Forex that allows me almost guaranteed profits, regardless of time-frame. In fact, once a person has traded Forex and gotten moderately good at it vis-a-vis technical indicators, all other markets are moving in slow motion. Forex is like driving a Ferrari; once you have been successful in the Forex market, other markets, such as stocks, are like driving a Yugo. This makes it much more risky, but also much more rewarding (and the ability to use those predictive skills in other markets is unbeatable).

I’m currently refining my analysis and have started working on a theory regarding, what I term, 3-dimensional analysis of market timing.

I would be interested to come to your seminar and see what strategic information you have to offer that could enhance my own personal trading strategy in the Forex market.

1. Fear and Greed 2. Profit potential

1-Lack of Knowledge and Guidance to trade like professinals and built simple diciplines and rules to trade

2-fear of lossing money,getting emotional and make wrong decisions
resulting in loss….losss…losssses

1. Obstacles: Having the right broker and the right charts on which to trade have been my biggest obstacles. Of course, there are other things like being able to trade during the London open which is way past my bedtime. Also, I have stayed away from pairs that have wide spreads, and can not stay in a trade for longer than a few five minute candles.

2. Forex: I love trading Fx because we live in a global economy, and it has widened my view of the world. Plus, the market is open 24×6, so there are always opportunities to trade. I also love working from home, and one day I will support my family via trading Fx.

1. An inability to truly focus .. Not being in the present..i.e. letting the rhetoric continue while trading..this prevents FOCUS from taking place. The voice inside – the voice that is always chatting to us – and the voices outside – TV, amateur chat rooms, news.. must be turned off so that the inner voice can speak. One would do very well to learn a lot about the role of ego, thoughts of the past and the future, and their influences in operating us and fear and greed. For, whether you like it or not, those influences will be shown on your trade sheet at the end of the day. Keep a trading blog, with thoughts before trading, actual trades and chart your results..adn review it regularly.. you will learn much faster. Thsi game can be mastered, but youiwll mater it do much faster by learning what your own influences are and how they show up in your trading as soon as you can. Fore example, I used to race motorcyucles.. so guess what.. I lived the edge.. so I was taking risky trades.. loving the adrenalin rush.. such as tryiig to pick bottoms.. now I have learned to put myself aside, and to listen to what the market is telling me…. I am no longer tring to hug the edge of the road.. I am now a surfer, riding the wavesas they passs through me. It took a long time to feel the impending strength of those waves..now, surfing rules over racing, and I am profitable in riding the waves as they come and go, sending their forces back out to the sea to be rebuilt, for me to ride a different wave at some undetermined point in the future.. Surfers live in the present.; it is the most powerful existence one can find.

2. I tis simply the best market.. highest volume, only a handful of things to trade, but even one will do as they each have their own personality. The trading lessons and economic rules apply to all currencies, and those lessons are portable and very useful in day to day life. All investors need to understand currencies, and the flow of capital aroudn the world into different insturments, because your investment advisor probably does not. I have seen even authors blunder in the face of currency moves..because they ignore the impact of exchange rate movements in their einvestment choices. For example, a Canadian might invest in a turnaroudn in the housing market, but golbal growth will make the Loonie stronger as the demand for commodities returns. he woudl have been better off investing in commodity firms at home, as they rise and the Canadian Dollar rises against the US dollar… moves of 20% a year in currencies, or leveraged moves of much more, combined with investment in a strong economy far outsrip returns in a balanced portfolio of mutual funds. Balancing means that they are unsure, unaware. Put your money where the money flows..and this is evident every day in the fast paced currency markets, where all is reflected in price. Leverage allows one to ramp up returns at very little cost once consistent profitably is achieved..

1. No discipline
2. No trading experience

1. The main obstacle would be cash flow. In order to trade successfully one needs a large amount of cash to start with. Micro accounts only get you sucked in and eventually you will loose your money. I’ve traded practice accounts and have done fairly well, doubling the amount I started with, but the catch is they give you a 100,000, so when you loose 5,000 its not a big deal. The main thing is to have breathing room and you can’t do that with 500 bucks, so I am saving my money till I have enough to open a decent sized account.

2. I am drawn to Forex trading because it is hands down better than trying to trade a company’s stock. The market is volatile and one can see massive gains if they stick to their rules. With Forex there is no lying CEO saying that the balance sheets look good and they should hit the streets expectations. Forex attracts me because behind the mayhem of price movements there is no balance sheet, expectations, or massive government control, as we are about to see with the market, to move the price up or down. Forex is where I want be!!

1. “What type of obstacles have I run into in the past that have prevented my trading success?”
The main obstacle that has prevented me from achieving Forex trading success is the need for a trust worthy trading system that I can believe in. One that includes complete online training which enables trading success for a majority of people. The Forex trading strategy needs to provide a clear methology that is simple and easy to implement. It has to be complete with professional risk reward money management techniques for generating real live profit results. The trading system needs to work sucessfully with low minimum funding requirements for beginners, and espeically for people who are in need of generating a consistant living for their family’s.

2. “Why am I drawn to trading the forex?”
For many years I have studied the markets from stocks, options, and the Forex. I have compared the various investment and business aspects of each, and find that the Forex provides the most advantages and benefits in a business opportunity. I have watched many charting time frames and experimented with various indicators and settings over the years. I can see the profit opportunities right in front of my eyes, yet I am uncertain how to sucessfully capture them. Our World economy is in the worst condition in history and it is negatively affecting all of us, we need a working financial system that can help provide for people in need. I know first hand because I live in Michigan, the state that is currently said to have the highest unemployment rate in the nation, and my unemployment has just run out for my family.
Even with a bachelors degree and several years of experiences I am not able to secure a job to provide for my family. So not only do I need a Forex business opportunity, but I also need to win a scholarship to make it happen. I truly need the opportunity to become one of your best success stories.

1) Do you want a list !! I dont think I could fit them all in but I guess the key ones are what method what time frame risk management and this is a big one which mentor you definitely need a mentor there is so much misinformation (nice way of saying garbage) out there I dont know which way to turn. Confidence in my setup and exit rules and overall confidence in the system or method and staying away from the FOREX hype.

2) I`am drawn to forex for a number of reasons the first is the sense of accomplishment when it all goes well the financial independence it can provide the challenge of over coming your fears and becoming a better trader and thus a better person and having the knowledge to be able to trade forex successfully is the ultimate statement of independence.

1. Over the past four years, I have traded forex, stocks and options, actually losing money over the long run. My greatest obstacle is my nature. Fear of losing has cost me dearly, in that I don’t stick with a trade that is going south on me. Fear of missing an opportunity has led me to entering trades outside of the rules of whatever system I am using. In the earliest months, I traded without much of a system, pretty much relying on gut instinct. Mistake! But, it is only lately that I have come to really believe that a system must be employed and trusted. That took a long time to become more than just a “good idea” to me. Your UMT system provides clear, graphical entry, stop loss and target signals. I believe the graphical signal points would provide the discipline needed, considering my nature.

2. Forex appeals to me because my work schedule varies. I’m able to trade the European hours or US hours. It’s also possible to move to trading alternate pairs when a particular pair is far too volatile at any particular time. The tax benefits are also a large benefit, when compared to trading stocks.

Q1. Without a doubt the 2 reasons that have stopped me, and most other traders, is lack of discipline and greed. The lack of discipline comes from not having OR not following the rules of a trading plan EVERY time a trade is made. Either I start to succeed and feel that “I know” more than the system since I’m obviously such a great trader so I’ll start to change the entry, move the stop etc. and then suddenly I’m not trading the plan at all and giving all my margin to the market. Greed – The fear of not getting every trade setup that may happen while I’m in front of my computer. Therefore, you get in a little early because after all, it’s going to go my way anyway and I’ll be getting a better price….WRONG!!! You end up in losing trades, chasing trades, or making up trades and blowing out your account…AGAIN!

Q2. The Forex markets seem to have a flow to them that connects with me. There almost is always movement in the markets, and you can trade long or short seemlessly. The availability of leverage and access to the market without having to have a $50,000 trading account is very attractive.

I look forward to using the Live FX and UMT to extract pips from the market place from all those that don’t have this tool.

Thank you.

1. The biggest obstacle that I’ve run into with regards to trading Forex was due to the lack of insolvency guarantees in the industry in general, but specifically the problems Forex poses for US investors and canada.

2. The Forex market allows for a trader’s convenience as it is open most of the time.

1.I’m yet to fully understand the market-lacking the skill to read charts and forecast market trends.
2,I lack the time necesary for serious players in the business.
Phil Ekwerekwu
Nigeria

1. My obstacles have been due soley to a lack of viable and trust worthy training resources thus making me hesistant to try it without the proper guidance and instruction.

2.I know that there is money to be made in forex trading and if pointed in the right direction. I believe that with the right training tools , even a beginner like myself can become a successful trader hands down.

I) an obstacle which caused me not to have trading success is my inability to start the trade at the signal for a trade.
I did not use the indicators which indicate the start and then enter the trade. I did not use this plan also when I went
to trade: “I will execute this trade which I PLANNED ( menitioned abvove) before today trading session. I starting the
trades without a plan – enter trade – execute plan (ndicators show trade now) – profit with stopping as planned
$300 MACD show volume increase exit trade with profit
invest exit trade 22pips above entry $300 Plus $225 or $525
2)I am drawn to trade in Forex Market because of access to internet. The Forex Market is a billion dollar market and the major world banks use this market daily. (BOA – Credit Suisse – First Boston – Goldman Sachs – HSBC
JP Morgan – Morgan Stanley – Dean Whitter – UBS Warburg

1. “What type of obstacles have I run into in the past that have prevented my trading success?”
No MONEY – in order to get the first earn (or even lose) – I first need the MONEY to start.

2. “Why am I drawn to trading the forex?”
Attempt to risk the small available amount I have to gain more for a flexible & freedom living lifestyle – not being afraid of any economical downturn that might affect my job or pay as I still have an alternative way to EARN money as it is in fact the best time to trade for more earnings

Largest obstacle is allowing Emotion in a trade – often under minding the system that put you in the trade. Emotion will let your losers run and cut your profits short…

Profit potential is the largest draw – trick is being in the 5% of traders that make money!

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

When to get into a trade; stop loss; sell at a certain profit. Technical analysis has been a big challenge as well.

2. “Why am I drawn to trading the forex?”

Forex is a 24/6 market; potentially trade for a secondary income, eventually making this my primary income to retire with!

The biggest obstacle is over trading. After a few loosers in a row, I keep on trading to try to re-coup my losses thus digging myself into a deeper hole. Consistency lacks in my trading which is so very frustrating.

What appeals to me in the Forex Markets is the versatility to trade different pairs in different session times. There is also a greater variety of platforms so that I can fade out of lots gradually and not just close out a trade completely.

1. The biggest obstacle to my success is that tend to over analyze things too much and have never been in a position where I felt completely comfortable. I made a few investing mistakes in the past and have felt the financial squeeze.
Timing seem to be one, if not the most important thing in trading. ( in and out) it is very hard if not impossible to trade profitably. You are always in at the wrong time and be stop out, or close a position at very low or no profit at all.

2. I have considered a number of different investing strategies and investment vehicles, however I feel that the Forex market offers one of best combination of risk to reward factors and liquidity which should allow me the opportunity to make good trades with good potential for profit with the ability to get in and out of positions quickly.
I look forward to using the Live FX and UMT to extract pips from the market place from all those that don’t have this tool.

Thank you.

1. Discouragement when losing and not realizing that losing involves learning and improving. Knowing when to re-enter a trade after a losing trade has resulted. And determining what the key numbers should be to determine an appropriate re-entry point. Efficient monitoring of existing trades and establishing an appropriate renentry point after a loss. Learning the ebb and flow of the market and determining what the market is saying to us when observing market movement. Its language.

2. Great movement in the market makes for excitement in this field. The enormous flexibility in trading times and the freedom to trade either very early in the morning or later in the evening. Being at home when engaged in trading and jointly working with other family members in trading. Potential freedom to do other community activities and volunteer time and quality family time by being home.

1) Emotional Trading which upsets my discipline.

2) To learn how George Soros broke the Bank Of England way back and to make money, from a One Man Business.

1) In the past, my greed and fear of pulling the trigger got in the way of my trading success. I made all the common (and a few uncommon) mistakes. I have worked diligently on my trading psychology issues to achieve my goal of being a consistently profitable trader. As a result, my personal growth equity curve has been almost straight up for the past ten years but my trading account equity curve has not followed suit. Naturally, I question the why of this.
I used several poplular systems and spent well over $10,000 in the process. Every system assured me theirs was the best because their hypothetical results proved it so. I made an amazing, and yet so obvious, discovery. The bottom line proof of any trading system is at the hard right edge of your screen. This is the piece of the puzzle that has been missing for me — a system that REALLY DOES win more than it loses and gives you exact entries, exits, and stops for high probablity trades.

2) When I was watching one of the UMT webinars, Mark showed a FOREX chart and talked about the various trades and the times for the US and European sessions. BINGO! I love currencies! I could be at the computer at 5am, trade the FOREX and run off to my J.O.B. by 10am. Finally, I can make money doing what I love every day. I am now re-writing my personal trading plan so I will turn my dream of being a full time trader into reality this year. If I win the FX LIVE! Course, I can be trading NEXT WEEK! I will be 62 years old in March. This would truly be the best birthday present I’ve ever had!

1. emotion get the better of me – fear and greed and ego
Since I new to forex maybe lack of right knowledge to succeed.
2. with big economic downturn, and all markets are going nopwhere forex market seems to give a good opportunity to make money since it is the biggest of all market globally and highly liquid. And forex maket is open 24 hours a day for 5 and half day a week, have given me access to trade during peak time of the market since I live southeast asia. Another one is leverage since I have limited amount of money to trade so that I could be financial independent.

1. “What type of obstacles have I run into in the past that have prevented my trading success?”
I set inaccurate stop losses and take profits which were either too high or too low. This has resulted in trade losses that could potentially have been profitable or potentially at a lesser loss. I also tend to jump into a trade when I see its price rising or descending a lot, only to get it reverse against me when I finally got into the trade. And when I got angry at my losing trades, I made even more mistakes or losses.

2. “Why am I drawn to trading the forex?”
It is easy to trade the forex through a platform (although not easy win), doing it online at the comfort my home or any where with notebook and internet access. And, it has the potential to earn lots of money.

1 Obstacles to my succeessful trading are;
a. Greed-The desire to make excessive profit always lead me to enter the trade too early and set a high profit taken level /limit which often leads to losses.
b Fear- The fear to protect agaist losses in a trade usually leads me to set a low stop loss order and this always terminate my trade too early if the trede goes agaist me initially.
c Lack of proffessional traders training due to high cost involved

2 What draw me to forex trade is the ability to create another source of income and on the long run become self dependant , work at my own convenient time and be able to spend much time with my family without any duty call from an employer.

1. Lack of Knowledge, Information, and Technique.

2. Forex moves quickly and offers the opportunity to make fast sums of money in a short time and can be worked just about anywhere in the world. not knowing much about forex.

Florence

still learning.

1.Lack of experience and knowledgeable understanding of chart reading and indicators etc.
I have only been trading 6 months and need more training and practice to be consistent.. I do get a lot of trades right but then I get on the wrong side of one and it takes away from the good ones. This is lack of experience, I am sure. I keep trading and try to learn the idiosyncratic behavior of each currency pair little by little as they all seem different and even then at different times are inconsistent. It takes a lot of knowledge and skill to get the right entry points and exit points and I am working on it every day sitting at my computer all day usually.
2.The Forex market is fascinating to me. It is like opening up a whole new world I did not know existed. I love it. I had traded stocks but not currencies. There is so much more to know about currencies and it a 24 hour world wide market which makes it very exciting. Also I like to know what is going on around the world and what affects the currencies in each country. It is really totally interesting to me how it all works and trying to learn to get the trades right and get the timing right.

1. Greed and indiscipline

2. Forex profit is potential and easy

1. too often i second guess the system trades and wind up taking the losers and missing the winners.
2. Fx may be a better place for me if i can find a broker who uses the interbank feed quotes and charges a small commision rather than a fixed spread. i do no trust brokers who ‘take the other side’.

A1.Obstacles I faced are:i, I did not have a good system.I was not being able to control my emotions(fear,greed,excessive excitement).No good trading trading plan-no good and clear set of rules to follow.I trade based on emotions rather than on signals issued by a robust and profitable system.I did not respect stop losses,profit objectives or any important parameters essential for trading.No good set of money management rules.
A2.My interest in fx trade are numerous,viz:
* fast result-I do not waite for days.
*Minimal time commitment-I do swing trading and spend less time.
*No employee,no office,no inventory-With FX,I trade coolly even at home without depending on others.
*minmal investment-I started fx with just $500.
*Volatility-Fx is very volatile.
*Liquidity-It is highly liquid.
*Profitable-With good system you can gain much within a short time of trading.

Greed and Over Leveraging myself with the mind to make it big.

I am drawn to forex trading cos I want to earn a living from it when I must have become a very matured and succesful trader

A1: Choosing the correct entry and exit points.
A2: Internet access, fast results

1. My biggest obstacle to successful trading is ignoring the most important trading laws.

There are a couple of “textbook laws” about trading that I believe to be fundamentally important. The fact that I consistently forget them while I’m trading explains why I struggle to find success.

The first law is “Be in tune with the markets ”. There are variations on this, such as “being in the zone”, but the message is the same: you need to have confidence in your understanding of what’s currently happening in the market and have clear rules for dealing with that market behavior. If you don’t, then you’re gambling, my friend, not trading.

OK, so if I’m smart enough to state all of this why don’t I just go do it? Well, my trading time is limited, so I’m always impatient to find a trade when I have the time available rather than wait for an optimal set-up to appear. (Yeah, I know. I can picture you shaking your head.) I hop between charts, trying not to miss anything. Any potential set-ups are analyzed and traded in seconds before they can disappear. Can’t afford to miss a trade, right?

Gambling pure and simple.

But the optimist in me thinks “Well, my trading may be unpredictable, but if the gains and losses are pretty much random, then, mathematically, in the long run, I might pretty much end up even. Right?”

Wrong. See, that’s where the second law kicks in: Money Management is the Holy Grail of trading.

Risk/Reward? Yeah sure, I check all that stuff…after the trade is placed. I mean if I do all that calculation beforehand, I might miss the trade, right?

Stops and profit targets? Yep, I use those. I have a pretty good idea where to place them – I just don’t mind moving them around if the trade’s going south. So, my winners are snatched quickly before they can disappear. My losers, though, they just run and run (and then they run some more.)

2. Why Forex? In a word: fascination.

Forex is unlike any other market. First of all, it’s huge. Massive. Bigger than all the other markets put together. Also, it’s 24×5, so for traders like me (I’m tossing aside the gambler tag just for a minute) who can’t watch and trade equities during the day, it’s the only viable alternative. Plus, there’s enough volatility in Forex to satisfy even the most enthusiastic adrenalin junkie. I’m not saying that I’m one of those, but man, there’s a wicked pleasure in watching a trade garner 100 pips in a few minutes. Yeah, I know it can go the other way too (seen it lots of times), but just let me fantasize a little, OK?

And another thing that makes Forex so fascinating is the way each of those Forex pairs seems to have its own character, just like players in a drama (complete with loonie!) Sometimes, you’ve got them figured, and they play right into your hands. Other times, they’ll keep you guessing right to the last second and then spring that breakout that you just convinced yourself is “never gonna happen”.

Fascination. Don’t even think about trading anything else.

Hey gotta go, I think I see another trade setting up…

A1. poor training, greed and poor discipline, computer problems, time conflicts.

A2. lucrativeness, liquidity

Lack of a good trading plan.
I want to be able to trade a market that is open after 6pm.

1. OVERTRADING! I feel I have to be in the market at all times in order to be successful. It is the fear of missing the next big trade.

2. For me it is the thrill & excitement of a winning trade made in so little time with so little capital. LEVERAGE BABY! Not to mention that I can play this game whenever I want, be it 1AM or 7PM. How great is that?

1) I watch my P&L too much and micro manage trades.
I get gun shy if I hit a few losers in a row.
Need to let those winners run for the big $$$!

2) I like the liquidity and the trending that FX does.
Plenty of opportunities to trade.

Question 1
I have selected four overriding obstacles. First and foremost was greed and trading on emotions. By early 2000 I had amassed considerable percentage gains in the stock market and was chock-full of greed and hubris (ignorance), to the point of pre-planning how I would distribute the guaranteed proceeds. I gave back more than half of the gains. Second was the lack of diversification across asset classes. I was steadfast in the ownership of nothing other than stocks on the Nasdaq exchange. Third was the incessant need to make trading overly complicated. I was paralyzed by the cumbersome analysis. Last, but not least, was the lack of professional education. I did not have a foundation built on the successful transfer of wisdom via effective teaching and tools based on clarity of content from a tried and true market participant, and therefore Mr Market offered its own form of education.

Question 2
A combination of attributes such as leverage, margin, liquidity, and around-the-clock trading, provide necessary diversification to satisfy my trading plan criteria, and to comprehend the financial markets on a higher-level with the expectation of enhancing the probability of my overall trading success. I have educated myself on the basics of the Forex market and am now prepared to immerse myself in the course material. I possess dedication and passion and am confident that with the combination of personality and course content, the end result will be nothing short of success.

Lastly, since there are so many courses being offered today it can be rather daunting for individuals such as myself to evaluate and invest in only the most worthy of courses. Therefore, should I be fortunate enough to win this course, and the subsequent achievement of success in the Forex market, I would be eager to give back via a frank assessment of the course, whereby others could use this assessment as a baseline in their decision-making process.

Good luck to all!

My biggest obstacle has been my impatience. It hurts me both going in and going out. I tend to jump into trades before I have clear signals and then get scared and get out too soon. I have taken some large (demo) losses doing this. I need to learn to control my impulses.

I got into trading in order to avoid being trapped in the economy. Trading is and probably will remain the only foolproof way to make money no matter what the economy does. The potential for a large income is there once I learn how to harness it.

1. I remain optimistic too long, and take larger losses than necessary.
2. No restrictions to trading times (flexible schedules) and the fact that we can make $ in up and down markets.

1…The fear of the unknown. Discipline

2….Freedom….

1- greed and instability on my trading rules
2- freedom,challenge ability,leverage,knowledge base,high liquidity and two way market.

1. No training course, no coach. Wrong entrance, moving stop loss, to early stop profit, cutting profit, letting loose to run, impatience…
2. Work from home (or anywhere). I pick working hours. Sky is limit. No boss. No recession. No rush hours…

reply 1, not having the right tradingplan in combination of trading with emotion it has not come to positive results.

reply 2, because of the dynamic of the forexmarket it would be great to be part of this envirement and have the time spent in understand this all in positive results.

A (1)Anxiety and lack ofgood trading analysis;
Just realised that for to make success in fx one must be able to control his emotions.And with a good fundamental and technical analysis,indicators and entry and exit points.I think these are were i had obstercles.
A (2) Fear of getting corrupted;
As a clergyman living in this part of the world(Nigeria)that is so corrupt,i felt trading fx will limit my dealings with people this will limit the chance of getting corrupted.

festus benson edayi

Our fate does not lie in the stars dear brutus but within ourselves. Whatever we bring to the table of life is filtered through our preceptions of gain and loss and more of ten than not it is our perception which is completely distorted by these emotions. From wanting to hit home runs I struck out more often than running the bases. Then fear takes over and you stop at first base even after the ball clears the fence because you can’t believe your eyes and first base feels very comforting. In the end you choke on the failures and discount the succeses while your money always seeking the guru who will take you to the promise land but always leaves you at the altar.

This leads me to why I find your program enticing. For you inspouse the motto. “Physician heal thy self” by your devotion to a trading philosophy that deals with trading perception that hold our internal perceptions up to the light of reality and what one can expect from the market and how to attain those results. I think your system is similiar to Pete Rose’s batting strategy. He wasn’t swinging for the fence but he put his nose over that plate and said “I”m going to hit this ball some where. Whatever the pitcher throws I’m going to put it into the field on play if it’s across the plate”. I think your system uses the same technique. If the trade is right I’m going to take it and know I can hit it somewhere. I know it may not be a home run but I know l will always be in the game most of the time and over time I will cross home plate.

Answer 1: The lack of an actual trading plan and/or a proven trading strategy/system has prevented me from long term continued success trading the forex.

Answer 2: I love the simplicity of the forex, a few major currency paris to look at and follow. I love the leverage and ability to make money with a small starting capitial. I love the fact that the forex market trades 24/5, there is no market closes at 4pm and then opens up the next morning after gapping way down do to something that happened over night. FOREX RULES, SO DOES UMT

1. Lack of money management and a proper trading plan
2. opportunity of making money almost happen every day

Dear All,

This is a very nice initiative,please keep it going!

1)The major problem that I have faced in FX trading is that I get emotionally very involved with the trade.I know you are supposed to cut your Losses short and let your Winners run ;but somehow I find it hard to get my ego out of the way when it comes to admitting I need to take a Hit on my trading account.Another Issue I face is that I am not disciplined enough,on some days I trade for a couple of hours and then I might go weeks before I trade again.

2) The Flexibility of being able to trade Forex on my Free Time ,draws me to it.I don’t want to leave my job but rather am looking for an oppurtunity to draw extra income which can help supplement my job.The extra income will give me a little bit of security especially in todays difficult times.

I have only been trading for about 6 months, with mixed results. I think I sabatage myself the most by moving my stop losses too soon. I am probably also closing the trades (taking profit)too soon. I have read about a dozen books and taken several classes, but I think I need more, maybe more feedback….and the positive reinforcement of a good trade ratio.

I got started in trading forex out of disgust with mutual funds, the stock market, and the whole “buy & hold” mentality that I have been brainwashed with. Instead of growing MY retirement funds and other accounts, my long term investments have just been lining the pockets of fund managers and CEOs….. as MY long term “buy & hold” accounts dwindle.

1. Poor money management, I didnt have a limit on my losses. I didnt have a trading system that worked.
2. It is a very large market with lots of volatility which is needed to profit.

Two years ago I heard the word “forex” for the first time. My husband had just asked, “How would you like to learn how to make money trading foreign currency?” Those were words that I knew meant I would be climbing yet another learning cliff.
And it has been the steepest and most difficult learning curve of my life.
With its own vocabulary, forex is like a foreign language—from platforms to pips, euros to entries, dojis to MACD. You hear the gurus say “let your profits run” and know that your brain will tell you to “take it, take it now.” You learn that emotion is your most treacherous enemy, so you highlight all the great passages in “Trading in the Zone.”
For these two years, forex has consumed me. I was either in front of the computer trading or studying, at a class or just thinking about “how to do it.”
What is the total result of these two years? I have learned far more than a college degree would have given me, and my losses amount to far less than college tuition.
I have a basic overview of the currency market. Although I cannot give in-depth discussion of indicators and candle patterns, I am familiar with most of them. I understand that fundamentals—those awesome economic reports and world events—quickly impact price action in the currency market. I understand that that impact may be only fleeting or that it may create a sharp reversal that can lead to lots of dollars in my pocket.
I have also learned the value of using a system as close to mechanical as possible. From slow indicators, emotion, fear of retrace, fear of drawdown, greed of take-it-while-it’s-still-positive, greed of just-a-few-more-pips to the slap of another loss: all of these encompass the obstacles of trading forex. The challenge of doing it successfully provides the draw.

Wow! I don’t care to remember all the obstacles and false starts I have had. I particularly don’t want to remember all the money I have lost pursuing a trading system I could trust. I have storage boxes filled with CD’s and printed material that promised to be just what I was looking for. But they were not. Most systems I have purchased or developed were either to subjective causing lots of indecision or were to rigid to adapt to changing markets. And because the provider of the system was only interested in the sale you could not get support to answer the questions you had.

By mid 2009 I had decided that the stock market volatility required me to trade in the shorter time perspective of a daytrader. I didn’t want to be tied down to my computer all day so when I discovered Netpicks.com and the UMT Simple plan and talked to the people at Netpicks.com I was ready to sign up. I am interested in Forex because it has a reputation for trending long enough for a trade to be successful and thus reduce the number of times the stop is hit. This seems to me to be a perfect fit with UMT Simple 2 and AT.

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

After over 3 1/2 years of many late nights, weekends, holidays, and anniversaries dedicated to learning, researching, practicing, developing and testing systems, I am still not in a position to successfully trade on the Forex market. I have attended numerous seminars and webinars, bought and sampled a number of programs, courses and systems, and have travelled from home in Jamaica to the USA on at least 4 occasions to receive training. All of this costing me thousands of dollars and time away from my family and friends.

Yet still I lack the CONFIDENCE in myself and am constantly plagued by DOUBT. This leads me to second guess my decisions and OVER ANALYZE everything (and I mean everything) and I miss out on potentially good trades and react desperately and blindly thereafter. Needless to say taking trades out of desperation and “revenge” is a fast track to disaster.

In addition to my doubts, lack of confidence, and over analysis, another obstacle for me is a LACK OF SUPPORT. Forex trading is very new and even somewhat of a taboo in Jamaica so there is no real support system of any kind to tap into. This means that I am basically on my own to learn and make mistakes, and I know about mistakes , on my own.

2. “Why am I drawn to trading the forex?”

I came to Forex out of curiosity. I heard rumors of persons generating 10% per month and wanted to find out if that was really possible. Since then I have learnt that it is indeed a potentially good way to earn above average returns and had even formed a small group with family members and friends to invest with traders. We lost 100% of our funds. Shortly after that, the company that I was working with closed and I decided to make trading a career, as I know that it is a rewarding profession and I needed to be in control and not put my fate in other traders’ hands.

So strong is my desire to become a successful trader that I studied for, sat, and passed the Series 3 exam so that will be in a better position to understand and appreciate the commodities market in general. I would also love to be in a position to properly expose and educate other Jamaicans to forex trading so that it becomes more understood and open up opportunities for other traders and investors.

Obstacles:
Back in 2000, I was quite wealthy and well on the way to my first million with what I thought was a very diverse portfolio of offshore and onshore investments……my passive income was plenty to live on…..everything in the garden was roses….. then CRASH, the whole thing toppled like a half set jelly.
A couple of years later, I dusted myself off (as you do) and I excitedly discovered trading options on shares after doing a $3k method-course-system in Australia. It was my first time to trade live…tho’ not the first time I had thought of it,( a friend studying Safety in the Market had got me juiced on the idea a couple of years earlier) … and it seemed fantastic that I would be able to manage my own funds…
Well, guess what? I ended up emptying my $25k bank within 6 months….Risk and size management I hear you scream…..and trading psychology..(what was that?) Oh Yes, all missing from the course! ……(plus I was also diagnosed with Ross River virus at the time, which fuddles and pickles your short term memory and clarity of thought, so I guess that didnt help much with analysis either.) But none the less,the trading bug had engrained itself well and truly. I love it. I can handle taking the losses,in fact I got really good at that…but its time to begin handling some regular WINNERS now as well. Your system looks excellent with all the discipline and diversity it offers.

I believe we all create our lives according to our subconscious beliefs, and that aspect of myself I have been updating over the last few years. (I enjoyed Harv Eker’s Millionaire Mind Intensive in Oct 2006 as well as continuing to study and incorporate other ‘change your blueprint’ remodeling material). … so now I believe and have faith that I am definitely ready to embrace abundance in every sphere of my life.

I have studied some of Van Tharp’s material recently too so I feel much more pychologically equipped now to deal with my trading ego-personality– the one that says I can do it better than the method… and I’m ready to surrender to new ways. I dont need to re-invent the wheel anymore!..I am the English rose-bud waiting to burst into full and glorious scented bloom.

2. why forex?
Lets start here……Trading makes my juices flow, its under my skin….it excites me… it makes me feel expanded…. I have a passion for it… I love to play with charts and technicals…..Forex especially appeals. Leveraged and thus potentially very lucrative, playing the biggest volume market in the world has to be the ultimate money tree. Forex is so very me , me , me. AWE-SO=Me)

Everything about it makes me ZING and POP and FIZZ and BLING. Being able to trade in any time frame, whenever I choose, from wherever I choose… …. I think I just went to heaven without getting wings. I love the idea of spending as much time with my son as I want to.. and when I want to. Forex trading fits that vision well, day trading suits my lifestyle and personality type.

I remember the feeling of banking $1000k on one options trade in 30 minutes. It was a more or less isolated event back then, but I desire NOW to be in that energy of abundance flowing daily. I’m ready, ready, sooooo ready.

4 months ago, I recieved a small cash return from an investment that was liquidated back in 2000 (well it would be small, wouldn’t it?..the lawyers have been nibbling at it for 8 years now!), but it is in my hands and not in theirs anymore…. It is not enough to make anything from any standard investment, (and oh so boooooring they are to me anyway), nor is it enough to make a big difference to our lives in the long term as a cash input… so I have made the unswayable decision to use it to get back into trading….. and no question, it will be in the Forex because out of every possibility I have explored I keep coming back to this point… it drives me, it motivates me , you know that feeling, (oh nerdy under the skin trader!!!) It is not just a ’something else to try’. My zings are pinging. My buzzes are buzzing, my passion is pashing… ) . I watch and listen to everything Forex these days. I just need some real support to gain confidence, get the edge and move to the next stage…. of banking regular winners. Plan the trade , Trade the plan. I’m in!

I’d be a great advert for you… I’m a single mom living in Fiji with my 9 year old son and we are very happy and grateful to be here coz we absolutely love it. Indeed it is possible to live on the sustenance shoestring we do… but its so worn out and due to snap any minute- my skill in budgetting is maxed out and soon the shit will hit the proverbial fan. (tin hats and gas masks, everyone!!) I can day trade forex from home, (or anywhere) and as under the rules here I am not allowed to work, this will fit perfectly.

With forex, I can start small, and with a good system like yours, and with my renewed and improved psychology, plus your sensible risk reward and size management, I can vision myself being able to have access to all the choices that having money brings. AT LAST! For me and my son it will lift us into a FUN lifestyle of choice,.. and I’ll have enough over to lend support to projects in the local community here in Fiji.

I have tenacity beyond measure for bouncing back, I know I can do it and winning your competition will help in a huge way. I have the motivation, the desire and the passion ..all i need to move foreward now is your education and service. Follow my progress, I will be a great ambassador for you! )).

Thanks for this opportunity!
Elayne Bennett

1. Psychologically unprepared. The difficulty in balancing the art and science of trading.

2. The volatility of the forex market makes it suitable for a day trader like me.

1. The biggest obstacle i face is myself!! Trading is simple but not easy!! Stick to my rules play the odds, its a numbers game!! I tell myself this everyday – yet do I do it? NO!! Will I do it ? Of course TOMORROW!!
2. I love the Forex it keeps me humble because everytime you think you have cracked it – it shows you who’s BOSS!!

l will like be a contestant

1. Pure ignorance, half baked info from all the talking heads, lack of professional instruction, and lack of a trading method is my downfall. my Practice account needs more practice.
2. after seeing the slow pace of the securities market…. and getting into forex….I live for the TICK!! I’m an out-of-work building contractor who is getting too damn old to build. This forex turns me on! I love sitting in front of the Puter all day watching the Tick….Long live the Tick. its gotten into my blood
Give me a educated chance and then look out!!

Q 1
The main obstacles I have faced as a forex trader are:
1) Controlling emotions. Forex is extremely volatile, and fear and greed will lead to huge losses. One cannot rely on luck. Being emotinal can make you a very indisciplined trader.
2) Mainiting discipline. One should be very disciplined to taking consistent profits and putting stops on the losses.
3) Lack of good training in technical analysis (TA) and money management (MM) is an important factor. A good training in TA would have guided me not only to place good entry points but also more importantly exit points. Money management is very critical. Based on the balance in the account one should use appropriate lot size which will measures the right risk otherwise the entire balance can be margin called.

Q 2.
There are a number of reasons why I am drawn towards forex:
1) High level of liquidity. More than 4 trillion is traded each day. This is much more than any other market.
2) Technicals work well in forex. I can use different technical analysis and apply it not only at daily but even on 5min, 10 min, and 15 min. So trades can be placed for short term as well as long term.
3) It is open 24 hrs. Although depending on the pairs, there is major move during certain hours only. The best time to trade is 3 AM to 11 AM EST.
4) I dont need a large amount of capital. This is because of leverage offered by most brokers. I can even start trading with USD1000. Unlike equities, one may need much higher amounts.
5) I can grow my balance at a faster rate than other markets such as equites.
6) Major swings happen during macroeconomic news (eg. interest rate cuts/increases) etc. However in equities one needs to research each stock with great detail. Look at their earning and fundamentals etc.
7) No trading fees. Most brokers in Forex dont charge trading fees, They usually make their money with spreads. So during Profit/Loss calculations I need to worry about the spread and not the trading fees. Normally for frequently traded currencies, like EURUSD, the spread is only 2 pips which is quite nominal.

1) I have been paper trading for a couple of months, getting a feel for the trading platform and the market. I find the main problem to be having confidence in a system, so that I remain disciplined and patient with the system, knowing that it will make me an overall profit. Typically I will make some trades and regardless of win or lose, I will start to cut corners to try and speed up the process. This gets me whipsawed in and out, and I end up treading water, some days with profit and then with loss. I have learnt enough to ALWAYS have my stop in place when I enter the trade. So my biggest challenge is self-discipline, but the other part is that I know I need a system that I can have faith in. Being an ad-hoc ‘gunslinger’ is doomed to fail. There are a lot of cheap and weak ‘products’ out there for would-be traders, that will only make money for the salepeople you buy them off.
2) I tried options trading before forex, and learnt a lot about the two drivers of price, fear and greed. To me forex has the advantages of liquidity, small spreads, time and trade size flexibility, market choice, and leverage. I feel that with the right trading system for my personality, I can achieve financial security for my family, as well as the time to enjoy life more without so much stress in todays economic climate, and give back to others.

1. Me, myself, I and my ego.
2. Have traded with limited success commodities, stocks and options over 2 decades. Forex offer a high leverage environment where brokers don’t hunt stop losses, and companies like JP Morgan go under after paying $4B in bonusses to the executives who sank it.

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

Lack of sufficient knowledge is the main one, not only about fundamental and technical analysis of forex markets but of mechanical aspects like choosing a good broker. I prefer a step-by-step approach: thorough study, trading a demo account, trading a live account – and the first step is my block, because of tight constraints on my available time. I would like to find a rigorous, fast-paced course that would bring me up to speed quickly.

The time constraints also block me from trading at the “sweet spots” of the day or spending much time watching the screen.

2. “Why am I drawn to trading the forex?”

I love that the market favors discipline, emotional control and reasoning. When I hear something like “85% of traders lose money” I feel drawn to the challenge of being in the winning 15%. I want to test, and to develop, my personal qualities – which affect the whole of life – in the unforgiving arena of trading, where over the long term your results are determined by what you are, how disciplined you are. I love the game aspect, trying to beat the game, seeing where the market is going.

I like the forex market because the information needed is out there and available, and because trading is going on almost all the time. Somehow I find reading about currencies extremely interesting, whereas real estate, for example, is utterly boring to me. Long before I ever thought of trading currencies I would be fascinated by reading, say, an article in the Economist about why the D-mark would appreciate against the pound.

The greatest obstacle always seems to be deciding which direction the signals are pointing towards, and whether the timing for an entry or exit is right.

The thing that draws all of us to the forex is the dream of being able to make six figures consistently in this or any other market from the comfort of home with no boss, no commute, no broker, and no strings attached!

1. This is the 64,000 dollar question. Pondered over beers, family, freinds/associates, mentors and most important myself.

Thoughts are:

a). I have bad karma from a past life( I was rich and treated people bad)

b). I have a self destructive nature and hate myself and everyone around me.

c.) I’m so scared at sucess because I’ve failed before that going thru the motions eases the pain.

d). I’m depressed and need anti-depressents. Whatever the reason being, I still believe I can transend this negativety somhow, someway, someday.

2) Forex has true patterns that is becomming of a simpler methodogy. With all my negativety simple is better. I hope to become frieinds with these patterns.

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

a) Failing to follow strict money management rules.
b) I have frequently placed my stops too tight resulting in, being stopped out at a loss.

2. “Why am I drawn to trading the forex?”

There is an enormous volume of trade at all times. It is possible to switch from a long to a short position very quickly. The forex market is open virtually 24 hours a day.

The biggest obstacle that I have faced and which has impeded my trading success is probably information overload at this point as well as the ability to make consistent profits.
First there is so much information & varied methods of making money in stocks & options that it is not only overwhelming but it makes it almost impossible to learn what truly works. I for one and I am sure many others have burned such holes in the limited accounts that we have to work with that often we just don’t have the capital to make it to the program that would actually work. So many programs advertise 100%, 1000% or 3,000% gains that for beginners like myself you would be a fool not to sign up with these programs and commit capital to them. However, once you start working these programs, you soon learn that the success rate is about 25% if that much. By the time you get the one 100% winner, your account has already been decimated by 80%. After that, well you are just trading scared and find it hard to believe in any system.
I find myself drawn to the Forex market because of its size, leverage potential & lack of manipulation which has always been a concern with stocks & options. it is hard to figure out what you are supposed to do in the stock market in that a company may double its profits yet the stock goes down. Whereas a lousy company that just lost billions of dollars in one quarter goes up. What gives? That basicaly is why I want to get into the Forex market.. It seems easier to make money in the Forex market in that you have six days and 24 hours in which to trade so you can trade it at your own pace. Besides, due to the high liquidity, you always have time to work on making your profit target whether you happen to be a morning or night person or somewhere in between. Moreover, I would prefer the action of seeing quick profits on a daily basis as opposed to waiting & hoping for months in the stock market. For these reasons, I see the Forex market as a better instrument for making a living and having consistent profits which is my goal at this point , now that I have been laid off. I have tried the stock & options market , but as indicated above it hasn’t worked. I would try day trading since despite all its knocks, I yet see a lot of potential in it. However, I don’t have the $25,000 capital to even get off the blocks. I thought I would earn it in the stock & options market but well you already know how that story went. Then there’s the Forex market……here’s to the hope that my next publication on the financial markets will be of my Success in Forex. Pick me! Thanks.

(1) Not disciplined with your trading.
(2) Because you’ve had a tight tested trading plan.

Q1.

Lack of knowledge, and fear. For more I learn, and use indicators, always get confuse for my entry, and just get
what is call “paralysis analysis”

Q2.

Forex is very exciting; when you put two currencies to ‘fight” against each other, it feels like a game; if one currency looses value the other one increases it. It’s less volatile, because instead of stocks from a company (just USA has thousands of them), Forex works with countries, and that can help traders to keep focus; no trading fees, no credit cards need… What you loose is what you have.

1. There are two main obstacles that I run into which hamper my trading success. The first is the obvious one of fear, evidenced by an inability to “pull the trigger” and enter a trade, because it might not work out (you mean some trades don’t work out?)!

The second obstacle is on the opposite end of the trade, either not following through on cutting my losses when it runs the wrong way, or knowing when to take profits when it succeeds.

2. Trading the Forex is a wonderful concept compared to trading stocks.
* trading at any time of the day or night during the week
* trading a market that is so large that you don’t have to wonder about institutional trading upsetting the prices
* trading that leverages your investment
* trading in for practical purposes perhaps six different price relationships as opposed to 8000 different stocks

It’s like a breath of fresh air!

Q1
I seem to have mastered the “Cut your wins short and let your losses run” trading model. Unfortunately, that is a proven LOSER. I need a more disciplined trading system that is more formulaic and that clearly calls the buys and sells and rides the ripples. I find that many of my entries ultimately turn into winners for someone…. just not me. I get caught up in the punishing psychological traps of hanging hopefully onto drifting losers, then bailing out when I recover to a small win…… only to watch the BIG run reward all the traders that did not bail out. Obviously I need a system and trading plan that incorporates realistic drawdowns and reasonably loose trailing stops. I need to quit sweating the ripples in between.

Q2
Why forex? That one is simple to me. This is the perfect market for trading. Virtually unlimited liquidity and transparency make the forex market one of the fairest, least manipulated markets to trade. The other main reason I prefer forex is the fact that the currency markets really have three (often divergent) undercurrents driving them which creates the type of anomalies and market inefficiency that gives a small speculator like me a chance for above average returns in a sea of much better capitalized players. The independent actions of the governmental monetary policymakers, the flow of money in trade and the actions of speculators create plenty of opportunity to take advantage of sizable and sometimes predictable price movements.

1. My main problem is dicipline. I intend to trade forex for a living. that ends up sometimes I am impatient with the small profit if I trade according to money management rule as I have limited trading capital. Also, I tend to change my stop loss if the trade is against me, that ends up having a bigger loss until the whole trade was automatically closed by system due to margin limitation. Up to this date, I have my ups and downs in forex, but overall, I am a loser as I end up not making any money in the end after funding my live account for 4 times.
2. I like to trade forex because it is a great investment leverage platform.I can’t think of any other way to make good money using just a little capital. Apart from this, the market is quite predictable and excited

Hi,

I am a disabled vietnam veteran that can perform really well at times and cannot work at other times. I have a disorder predicated on combat stress-(tank commander northern vietnam 1967) Forex provides the opportunity and flexiblilty in both functional time and timeframes to make a living. I have traded in the past but I love the flexiblily and volitility of the Forex market- I am educating myself in the methodology that fits my personality and limitations. I have searched and researched for many months-traded demo acccounts, ect, ect. This is why I feel eligble for a shot at the the system and education and maket understanding; the most important thing is to find a system that fits my personality and follow it with strict money mangement rules and commitment.

Stan

Obstacles that I CONSTANTLY seem to keep running into are WHEN TO PULL THE TRIGGER. It seems easy enough to follow a system and place a buy or a sell..but 2nd guessing yourself due to it maybe not being a perfect setup or price action scares you away or ANY other reason, can leave you feeling frustrated.

I’m drawn to trading forex because I am determined to become a full time trader. There is much more price action than stocks and only a few currency pairs rather than a couple THOUSAND stocks, plus it’s a 24 hour market.
I know that there are traders that do this full time and I KNOW I can be one of them if I just fill the remaining pieces to the puzzle.

Thank YOU

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

I have long held that long term trading success is dependent on at the very least, 3 key elements. One, having sound Money Management principles, two, having the ability to maintain a consistency of Discipline and Focus within ones trading, or in short making the Mind part of the equation, and lastly, having a Method that gives a trader an edge that allows them to leverage those sound Money Management and Mind principles discussed earlier. I have worked very hard over the years to come up with a degree of competency with the Money Management and Mind aspects, and the element that I now am looking to secure is the “Method” piece. Everything I know about NetPicks, suggests to me that they are a firm of high integrity and character, and that any Method that they are offering to Traders has been back tested and forward tested, and meets their high standards of being able to be deliver consistent, reliable trading success. It is my desire to be able to take this latest offering of NetPicks and use it as living proof that if a trader has these “3 M’s” in their skill set, that they cannot help but be successful.

2. “Why am I drawn to trading the forex?”

My obligations to my family require me to be able to care for our children, get them off to school, run them to various school events, etc. Unfortunately, trading during the regular US Mkt Hours over laps with much of this activity and trading Forex would allow me to trade when they are retired for the evening, or have not even woke up yet in the morning. This versatility is really important to me and everything I have heard Mark and Brian say about trading Forex leads me to believe that this would be a excellent fit given my circumstances. I would very much like to make this my primary market to trade, and use my own experiences as an example for NetPicks to show others that if I can do this, given the challenges that I have during my day, that anyone can do this. With a lot of hard work, and dedication, I am confident that I will be able to achieve the results that Mark and Brian have shared with us in the past, and I would then love to “pay it forward” and help others to make the same choices that I have to allow NetPicks to become a regular part of my trading arsenal.

Thank you Mark and Brian for all that you have done for both the new trader and even the most experienced trader as well.

Richard

I am an 86 year old that is intrigued by the potential Forex trading offers to anyone having the discipline and courage to apply themselves to learning how to provide for their financial future. While I have few years left to trade, I hope to prove this to myself and my Grandchildren and Great Grandson, so they can provide for themselves and their children. Profits that I make from my trading will be used to help three particular charitable entities.

1. I started trading forex on October of 2006, FXCM offered a 30 day forex training program for $750.00 and if you opened up and account with them and made 10 trades they would reimburse your fee. I learned a lot from this training especially the basics of technical and fundemental trading technics but I didn’t implement this training instead I decided to buy Vanatage point software (big mistake) very expensive, also I was dependant on the software to perdict the market for me. I had so much confidence in this software that I lost $10,000.00 in a standard account and I was wiped out. I started to invest in other forex programs searching for the holy grail, but I found out the hard way there is no holy grail. So to answer your question I was trying to get rich quick, I made decisions based off emotions, and I fooled myself by staying in a loosing trade hoping and wishing the market would come back and make me a profit. I want give up trading forex I want to become a professional forex trader.

2. I have always been attracted to trading, example commodities, stocks, etc. But when I was introduced to forex it was different the spread instead of broker fees really got my attention especially when FXCM offered NDD account, also it’s 24X6 with bank overlaps, the liquidity of this market is good for technical indicator accuracy and I love volatility so this are the reason’s I’m drawn to forex.

the main obstacle I face in forex is that I say 3 lies to myself. 1. the trade will turn around. 2. I know what I’m doing 3. I thought I could support my family by trading.

I am drawn to forex because I thought It was simple. I thought my dream to become a trader was around the corner. When you have several some trades in the posititve, the feeling is better then sex!

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

THERE ONCE WAS A TENNIS SHOE SALESMAN WHO WENT TO AFRICA. HE WAS SENT THERE BY A COMPANY TO TRY AND DEVELOP A NEW MARKET FOR THEIR LATEST SHOE RELEASE. THE SALESMAN WAS JUST OUT OF SCHOOL, WELL EDUCATED, ENTHUSIASTIC, DEDICATED, AND HAD AN EYE FOR POTENTIAL OPPORTUNITY, IE. AN ENTREPRENEURIAL ATTITUDE. THE COMPANY ALSO WAS EXCITED ABOUT THEIR NEW RECRUIT. HE APPEARED TO HAVE ALL THE NECESSARY TOOLS TO SUCCEED. A WEEK AFTER ARRIVING IN THE COUNTRY AND WALKING THE STREETS HE BECAME CONCERNED. NOT ONLY DID HE MAKE THE SAME OBSERVATION ON THE STREETS, BUT ALSO ON THE PLAYGROUNDS, BASKETBALL COURTS, AND SOCCER FIELDS. HE ANXIOUSLY CALLED THE COMPANY AND TOLD THEM THAT “NOBODY OVER HERE WEARS SHOES !!” DISCOURAGED, HE PACKED HIS BAGS AND HEADED HOME. HE LEFT THE SHOE COMPANY AND TOOK A JOB WITH LEHMAN BROTHERS SELLING MORTGAGE BACKED SECURITIES. IT SEEMED LIKE A GOOD IDEA AT THE TIME.
THE NEXT YEAR THE COMPANY AGAIN WANTED TO TRY AND CRACK THE AFRICAN MARKET SO THEY HIRED ANOTHER SALESMAN. HE WAS OLDER THAN THE FIRST SALESMAN, LESS EDUCATED BUT MORE EXPERIENCED. HE HAD ALWAYS WANTED AN OPPORTUNITY AND HAD SEEN OTHERS AROUND HIM SUCCEED. HE JUST KNEW THAT IF OTHERS COULD DO IT SO COULD HE. HE JUST NEEDED THE OPPORTUNITY. SO HE HEADED OFF TO AFRICA AND LIKE THE FIRST SALESMAN HE TO0 WALKED THE STREETS, AND VISITED THE SCHOOLYARDS AND PLAYGROUNDS. WITHIN MONTHS OF ARRIVING HE WAS THE TOP SALESMAN IN THE COMPANY, PLACING ORDERS FOR HUNDREDS OF PAIRS OF SHOES PER WEEK. MANAGEMENT WAS PLEASED TO SAY THE LEAST. FINALLY THE HEAD OF SALES CALLED THE SALESMAN TO FIND OUT HOW HE WAS DOING SUCH A LANDMARK BUSINESS. THE SALESMAN RESPONDED, ” IT’S EASY . NOBODY OVER HERE WORE SHOES”
I WOULD LIKEN MYSELF TO THE SECOND MAN. IT IS APPARENT TO ME THAT MANY PEOPLE MAKE A GOOD LIVING AT TRADING THE FOREX MARKET. IF THEY CAN DO IT I BELIEVE I CAN DO IT. MY MAIN OBSTACLE TO THIS POINT IS FINDING A SYSTEM THAT GIVES RELIABLE, CONSISTENT, LOW RISK TRADE OPPORTUNITIES. LIKE THE SECOND SALESMAN I SEE THE GREAT OPPORTUNITY THE FOREX MARKET HAS TO OFFER.

2. “Why am I drawn to trading the forex?”

THE REASON WE TRADE OR WISH TO TRADE IS TO MAKE MONEY. IT APPEARS TO ME THAT THE FOREX MARKET IS A LOWER RISK MARKET TO TRADE TO MAKE MONEY. YOU HAVE MORE CONTROL OVER RISK, REGARDLESS OF THE SIZE OF YOUR ACCOUNT. START UP COSTS CAN BE MINIMAL AND CAN QUICKLY GROW WITH COMPOUNDING AND PROPER MONEY MANAGEMENT TECHNIQUES. THE LEVERAGE AVAILABLE AIDS ONES ROI. OPPORTUNITIES ABOUND IN THE FOREX MARKET FOR BOTH LOSSES AND PROFITS. THAT IS WHY A GOOD SYSTEM IS REQUIRED . I HAVE WORKED 6 DAYS A WEEK FOR THE LAST 20 YEARS AND ENJOY MY WORK IMMENSELY. HOWEVER , MY CHILDREN ARE GROWING UP LEAVING AND HAVING MY GRANDCHILDREN ELSEWHERE. (HOW DARE THEY) . SO MY MAIN DRAW IS THE FREEDOM TO DO THIS WORK FROM ANYWHERE IN THE WORLD. IT’S NOT JUST ABOUT MAKING THE MONEY . iT’S ABOUT WHAT YOU DO WITH THE MONEY YOU MAKE.

Lack of experience, limited knowledge, lack of formal training, lack of mentoring from experienced traders, lack of risk management, and lack of focus and discipline have been the primary obstacles that prevented my trading success.

I was drawn to trading the forex because it appears to have some positives over the stock market. Forex has great liquidity, a wide range of trading hours, good leverage, and is less manipulated than the stock market. It is relatively easy to trade with good software trading platforms provided by the brokers. The fees are generally in the spread. Forex can be successfully traded with either technical and/or fundamental analysis. Since there are only a handful of major currencies, the range can be limited to the major currencies for fundamental analysis. Timeframes for technical analysis can be specified to make trading with a “system” fit the time available for trading.

1. My biggest obstacle in trading forex is getting consistent results. One day you are flying pip high. The next day, you wish you would have done the exact opposite of your trades and then you would have been a winner. Learning to find non-emotional balance is an obstacle.
2. I am so drawn to forex trading because of the huge opportunity it creates everyday. It is the challenge of seizing that opportunity that keeps me coming back for more.

The biggest difficulty i have with FX is taking the stop loss when price has never gotten into positive territory. I hate being wrong, and so I think if i just wait, it will turn around and get going in the direction I want it to go in. Of course, what happens is that a small loss, or even a break even, becomes a hug, monstrous, ugly bad loss that has wiped out several accounts. And yet I keep on coming back.

Why? I love the way working with FX uses your whole mind–analyzing different time charts, technical indicators, responding to news or consolidation. I think i must have been a girl-hunter in my last life.

I am slowly getting more and more consistent, but need to learn more so that I can have my life of joy. I am also committed to paying off our church’s $800,000 mortgage we incurred in having to fix our “leaky building”. My dream, in the future, is to teach other girls and women how they can be financially indepdendent using the forex as their medium. It is a business with not enough women in it–yet.
Kate Bern

1) My biggest obstacle is my fear to pull the trigger.
2) I love to trade to unravel the mystery of financial markets.
junakku@yahoo.com

1) Stop hunting by the brokers.
2) To understand how George Soros became a billionaire.

Mathew

Simply put, the development of Indecisive Trading Habits has been the single obstacle standing in the way of my trading success. These habits are the result of the lack of a disciplined trading plan, with well-defined entry and take-profit points, the lack of sound money management policies and the lack of sensible risk versus reward ratios.

Today’s high unemployment figures prove that no one is indispensible. I am drawn to trading the Forex markests because of the GREAT business opportunity it affords: reasonable investment with the potential for outstanding returns; independence from the shackles of employment; low overhead; no employees; recession-proof; age-resistant; dynamic, liquid, multiple markets; flexible hours; highly portable.

Show mw the way!!!

Q1
I would say that the main problem at this moment in time is the fact that greed is an all consuming factor.I am so positive that I would be able to trade as a professional trader but thekey factor that all speak about is money management. I manage it untill I start trading positive and then all logic thinking flies out of the window. The thoughts that I then have is if I can make 1300 u$ why not 13000 u$ an then try. That is just when the market turns against me. It boils down to emotional controll or the lack of it and money management. There are also some events that I just don’t understand . I would for instance think that an interest rate cut would have an negative affect on a currency but with the cut in Australia this morning it had the opposite affect so the third factor would be a lack of knowledge.

Q2
The fact that I get a kick out of the risk factor and that I know that there are a lot of money to be made when traded correctly.
To start trading is relatively cheap.

. 1“What type of obstacles have I run into in the past that have prevented my trading success?”
-I have bought numerous Forex Trading courses and and I easily give up the strategies taught on these courses after experiencing a number of losses using those strategies.

- I am not disciplined, even though I have a plan and checklist for entering and existing trade.
When I see a currency pair trending I jump on it straight away and forget my plan and checklist.Then when the trade go against me and tend to reverse the trade and in most cases this also results in losses.2. “Why am I drawn to trading the forex?”

- Although I always set stops and profit targets when placing trades, I tend to take my profit early before it hits the target thus not maximising my profits.

2. “Why am I drawn to trading the forex?”

I am drawn to Forex because :
- As a retiree I wanted a business that does not require a great deal of capital and resourses plus I can trade from my comfort of my home or anywhere I happen to be travelling.
- One of the best markets to be in because of its liquidity
- One can make money when a pair goes up or down
- Forex Trading is well suited to Technical Analysis

1. “What type of obstacles have I run into in the past that have prevented my trading success?” – - – - Obstacles that have hindered me in the past include a little bit of fear, a little bit of greed, and way too much not knowing when to get out of a trade. I’ve only traded minis so far, but I’ve literally seen $100+ profits dwindle to $50, 40, 30 or less. I’ve also gotten out of trades with a small profit that could have been a much larger profit if I would have stayed in longer.

2. “Why am I drawn to trading the forex?” – - – - I’ve tried several different investment/trading vehicles over the years and have finally found my “home” in Forex. I love the constant variety and change I also love a lot of action; I find it in the 5 and 10 minute charts. If I want to slow down a bit I can go with 15, 20, or 30 minute charts. I can trade 24 hrs. a day, 5 days a week. In Forex, there’s always a bull market somewhere and, like stocks, I can make money when a currency is going up OR down. The cost (pip spreads) is low, and I can start with a minimal investment, but the profit potential is truly unlimited!

1: Fear, greed, money psychology, mental toughness. Then you get to the Charts, Indicators, Custom Indicators, ea’s, etc, etc, etc.

2: I am drawn to Forex Trading because I know I can do this. BUT, need a system, that has been proven, to be successful. Making Money Trading Currency, was never thought about for the average person, several years ago, now it is open to anyone who can put a few dollars together. Have tried ea’s and Robots and thus far have not found one that is consistent, Make some money, lose some money, but never making any consistent gains.My main purpose in trading. Make enough Monthly to allow my Wife to retire and then we could do some traveling.
Sincerely,

Q1 – I suppose mine is the common problem among newbies to Forex, too eager to trade and too little knowledge to make it work. I am a retiree and 65+ with very little savings to last the next 10 years (if I live that long). I’ve attended the apprentice and advance forex courses which I now realise were very basic and didn’t prepare me for the live trades that I entered, and unfortunately lost. I’ve stopped trading for a while now and gone back to learning as much as I can about Forex on the internet and about how to control my emotions. I now realise how much I didn’t know and there’s more to discover every day. Thank goodness for people like UMT where I can get forex education for free, bless you. I want to be a successful forex trader not so much for myself. I have 5 wonderful grandchildren and although only the eldest is in proper school, two in kindergarten, and the rest are just babies, I want to contribute to their education and ease the burden on their parents. Cost of education like everything else are increasing year by year and a good education insurance can go a long way towards their future. I hope to restart my live trading again soon as I feel more confident now after the “fear” that grips me after my initial loss. Unfortunately I don’t have the money to pay for the more advanced courses offered by various experienced ‘gurus’ out there and have to do with the free courses available online. But I hope to attend one as soon as I have a little extra.
Q2 – Just like most retirees with a lot of time but with little money, Forex offers the best option to trade with low investment capital and reasonable ROI. I am not one trying to be rich in doublequick time, nor am I interested in an upmarket or fancy lifestyle. I just want a stress free and simple lifestyle, to be able to pay the monthly bills, set aside some fund for my grandchildrens future education and spend the rest of my free time visiting my children and go for local holidays with my wife. I know that if I plan my trade properly, without the emotions, Forex will reward me at the end of the day. I am that confident.

Thank you – Bob Shannon

Two (2) must important thing in forex trading as far i am concern is(1) entry & exit (2)discipline.

Rise and fall is all about trading for the beginners, i was once like that,and forex trading is all about leaning,reading more e-books,

this were the challenges i have ever had in forex trading it also lead to my first account losing.so being conscious and focus can gallant more opportunity to be a good forex trader.

Q1.
My biggest obstacle is putting in the necessary “screen time” to implement and improve on the strategies I learnt. Partly due to time constraint but also must admit that to a big part, patience and discipline. Patience and Discipline, the first 2 lessons I learnt in trading and I believe, the keys to being a successful trader. I would need to work on those.

Q2.
Funny thing is, the retail forex market is full of scams and brokers trading against you! The fact that its not exchange regulated and most of us are using market maker brokers is not attractive. However, I love the fact that I can trade forex found the clock. Being in Asia means I have access to the Asian, London and New York sessions! The FX market is also great for Technical Trading, which I love. And the good thing the brokers offer is that we can start with a very small capital say USD50!

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

Just read through the answers to this question above. It pretty much sums it all up.

2. “Why am I drawn to trading the forex?”

Isaac Newton, after having had lost a bundle of money in an offshore investment, once said: “I can accurately predict the movement of the planets and stars but not the madness of men.” Now, just think about this… If I can become successful in trading forex I will prove myself more brilliant than the man who invented calculus. Isn’t that a challange?!

1. Lack of knowledge, education, poor money management, taking risk/gamble, no trading plan, greed, afraid of pulling trigger, no discipline. jack of all tricks master of none.
2. be my own boss, financial independant, liquid market, home sweet home, 24 hours market, good business /no overhead. have more times to spend with my family and friends. sky the limit…………..

Question 1

Myself! I am a very disciplined person with police training from the age of 17 years BUT when I trade Forex those little inner voices constantly appear and create doubt. By biggest obstacle is ME! I have learnt a lot about myself during my 5 years of trying to succeed in the Forex market.

Question 2

Because of the challenge of success! I found in life that if I strove to be successful in business then the money followed. The Forex market is the most challenging I have ever attempted. This include sport(golf), art, writing etc. My business is property development and marketing. Coming through four booms and busts since 1972 including this latest was and is challenging BUT learning to successfully trade Forex is something else!! The learning curve is massive. When I think I have mastered it something comes in from left field and shatters my confidence and knowledge. The learning curve is boundless.

Thank you UMT!

In response to the two questions posed:

1) Aside from my own mistakes in trading the FX market, the biggest obstacle I’ve faced is equity management limitations imposed by market-makers (MM’s) that I’ve previously used. For example, offering “micro” accounts to customers the MM intends to impose “mini” account contract size restrictions on. A minimum contract size of 0.1 is fine for “mini” accounts (between $1,000 – $10,000), but completely unacceptable for “micro” accounts (less than $1000). A minimum contract size setting of 0.01 should ALWAYS be offered to the customer(s) of an MM offering “micro” accounts, so that responsible and effective equity management can be maintained at any and all times.

2) The FX market is the largest in the world, it will ALWAYS exist in some form or another, it is as free from corruption as any business model I’m aware of can possibly be (since no one entity has real, meaningful “control” of the market) and it has the potential to enable those of us with altruistic, philanthropic aspirations to create opportunities for personal and financial successes for others.

Thanks again UMT, for providing this prospect!

Over trading has been an obstacle for me in the past to a successful day and thereby successful weeks and months. Losses will come but if you have already stopped your trading for the day then you will not experience them. So, the moral of the story is the quit while you are ahead.

Forex provides a great opportunity to trade. Yes it is open 24/5.5 but if you trade at the peak times and you will earn a nice living and have a life too.

My Answers

1. “What type of obstacles have I run into in the past that have prevented my trading success?”

– lack of time
– generally, both for learning and for trading
– enough time some days but not enough time every day

2. “Why am I drawn to trading the forex?”

– a liquid market with tradable moves no matter what the curent economic climate

Answer to #1:From stocks to options and within the last year or, the Forex, my husband has been studying and researching to find the right vehicle to trade successfully. I believe your course is that tool – finally!

Answer to #2: We are a single-income family. My husband, bless his heart, has been searching for a means to supplement our income and gain expertise beyond the knowledge he has in computers. Since we decided in 2002 to homeschool, I forsook my career as a CPA to take on the primary role of educating our children. This has been both a sacrifice and a blessing. Learning how to successfully trade the foreign markets is something we can do together, something we can build upon and use to repair some of the financial damage we have undergone.

My husband’s salary is our only income. His company has been progressively eliminating thousands of positions over the years. This prompted us several years ago to start a trading business. From what my husband has told me, our primary strategy was selling options. Unfortunately, due to market volatility, our little business has sustained numerous, seemingly insurmountable losses. I had never seen him so crushed before; he simply stopped trying to trade. While we are all vulnerable to life’s turns, there was something very different about the affect this has had on him.

A year or so ago, he recommenced his search to find a successful way to trade. After watching him research, test, and retest many different trading methods, it is clear to me that my husband has resolved to learn to trade the foreign markets. ITCONCERNS ME! He believes, with the right vehicle, we can regain our business, and over time, the many losses sustained. Frankly, I am more concerned about his stability and the time he is spending on this effort, especially because his successes have been minimal.

This time it is imperative that we learn the technique together. The learning process can also include our children, as I can incorporate it into lesson plans at their level. This knowledge would provide them options we never had, freeing them from the uncertainty of being an employee.

Thank you for considering us for your generous offer. I am grateful for the opportunity and what it could mean for our family.

Sincerely,
Ky

The obstacles that I have had are lack of knowledge, experience, and the ability to sift truth from fiction. The help I have sought has not been able to transfer their expertise to me in such a way that I can apply it. From viewing the Webinar, I think that this is better than any I have tried. I was seriously tempted to buy the program, but I rationalized not doing so by thinking it was just another one that makes money from the sale. (no inference intended or implied).

I am drawn to the Forex market be cause it is world wide in scope. Trillions traded daily. Can trade almost any time. Requires small investment. With the current and the probable increase in technology, I can forsee that my Grand Children and their children could provide all of their financial needs. I would like to help some charitable institutions with more than I am able to do with my current retirement income. Also given the current Stock Market, Interest Rates, and assured inflation, this is the only game in town to stay even or get ahead.

1.Lack of discipline. 2.Financial freedom.

Q1. It was a hot summers night, June 5th 2007 and I was being amused by myself about the possibilities of becoming a world renowned Trader. Not just any old trader but the best of the best, heck maybe even the best of the best of the best. Then it dawned on me while I was sitting Under My Tree that I need something to trade, something that would make me rich both in money and character, yes I had just had my first epiphany! I was destined to meet this new challenge, this gigantic mamoth goal by becoming “The Universal Market Trader”. I was going to take the world by storm. I was going to go for it, the whole hog. I was going to swing and trade Commodities,Currencies, Stocks, Futures. Since time began and to time indefinate you were looking at the “Mr The King” of traders. Did tell you it was hot. Maybe I didn’t tell how hot it was … it was real real hot. The type of weather you find yourself illusionating and sweeting in a cold fever. Nevertheless I was still lucid enough to come to a disturbing realisation … the cold fever was bought on the by cold hard facts … if this was to be, if this was to be my future blessed by the Gods, then I was going to need something I didn’t have. I was going to need channel FxLive streaming to my PerfomanceCalculator. Bugger, how I was going to get this????

Q2. Have you heard the story about the guy who was illusionating Under My Tree one hot summers night. (he thought it was his tree, but I cant tell you my friend it was Umistakedly My Tree). Well I wont bore you with all the details I will just cut to the chase. This guy, they called him “The Universal Market Trader” and “Mr The King”, went on to become (obviously a hell of a good trader, some say the best) the worlds best know Philanthropist. Sadly the one thing he never gave of was his knowledge of Trading, so although he left a remarkable legacy to the world with his Philanthropic work, he left no one who had the ‘means’ to continue his good work. I say “what an idiot”. Why didn’t he teach his children, his family, his friends and collegues this valuable rewarding career. He surely woud’ve had the time if he was really that good. He could’ve helped so many around him to become self sufficent, to become truely financially independant. It reminds me of the old proverb “you can give a man a fish and feed for him for day, or you could teach the man to fish and feed him for a lifetime”. If that “Mr The King” had tought me what he knew, i could fishing when ever I wanted. I could be fishing in the Bahamas one month, Tahiti the next and just having a holiday in Hawaii the next without the need to go fishing, although I could if I wished. Well I wish … if only.

Answer Q 1. Greed, fear and emotion. Poor decipline. Sometimes lazy in preparing advance plan of what to do for the next trade. Over trade and improper stop placement.

Answer Q 2: Easy money making if scientifically involved with proper planning and good decipline. No costly office or manpower or any licence required to make millions in this forex market.

1) Emotion and insatiability
2)Swift motion, volatilita