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How to Become One of the 5% of Forex Traders Who Win
hi this is Scott Schubert with trading mastermind and forex trading seminar welcome to lesson number two in this video series in this series of videos we're going to clue you in on some of the secrets to forex trading and we're going to start to demonstrate to you some of the key differences between how the ninety-five percent of people who lose in forex trading approach their business and how the five percent of people who win in forex trading approach their business and part of the differences are mental psychological and part of the differences are in regard to the specific methods that are used for trading and we're going to definitely get into some of those methods in this video series so what is the real difference between the 95 percent of people who lose in forex trading and the 5 percent of people who win you know a lot of people hear these kinds of numbers and are very discouraged and they think that oh forex trading must be extremely difficult well did you know that these are the same numbers that are universally well documented across pretty much all businesses did you know that that 95% of people who open a small business of any kind will fail within 5 years and that that information comes from the Small Business Administration and it's well publicized so if you hear someone say that oh 95 percent of people lose in forex trading well when I hear that I never thought a thing about it because I already knew that that was true in all businesses it's not that forex trading is extremely difficult it really isn't it's more a matter of that's a principle of human behavior most people fail and lose in all businesses and in all endeavors in life and it's I'm sorry to say that but the encouraging thing is that it doesn't have to be that way well the difference between a 95 percent who lose and the 5 percent who win is one percent a state of mind it is not necessarily what type of charts they use what training course they take or or even what trading method they use because the truth is there are successful people using all different kinds of trading methods but there is a there are specific trading methods in our training program that will open your eyes to a whole new way of approaching trading that is totally easier way more reliable and highly profitable but the fact is I could teach that trading method to people all day long and unless they have the proper state of mind they won't succeed it even if it's an extremely simple method that's how interesting it is to observe that because of the state of mind of failure consciousness negative thinking most people won't be able to succeed with any trading method now our trading method is extremely simple and you know it's relatively easy to trade this method and yet I can observe that I can teach this method to some people and they will immediately find some reason to not do it and that's their way of allowing their negative thinking to give them a way out of becoming successful so they'll find some kind of way of not doing it some people will look at it and say oh this is too simple and this couldn't possibly work and so there they go they're off on to something else that doesn't work as well and they're often to a life of frustration and failure or they'll say the the common thing that I often talk about that I find so amusing is that some people will say well if this really worked everyone would be doing it and unfortunately that's such a ridiculous assumption when you understand that there are an infinite number of ways that anyone can make as much money as they want it's not like there's necessarily one way or two or three ways there are an infinite number of ways that anyone can make as much money as they want and yet what's happening they're not doing it so the fact is if you think if this really worked everyone else would be doing it well that's obviously totally false because there are a lot of things that work and everyone else is not doing them what's everyone else doing they're sitting on their couches watching reality TV complaining and blaming other people for their lack of success successful people are doing something completely different from that they're thinking in a completely different way and that's the whole key and this is the bottom line anyone can become one of the five percent who will win in trading at any time they can become one of these people so there you are consider those ninety-five percent of people who are losing right now is there anything stopping them from winning is anyone forcing them to not win is it the government's fault is it their parents fault is it the forex trading industry or is it the fault of the training program that they purchased what is it with these ninety five percent of people who are losing is there something stopping them from winning well yes it is entirely themselves and anyone can become one of the five percent of people who win if they choose to and the most important transformation that they will need to experience is in their mind with regard to positive versus negative thinking now a lot of people especially left brain engineering type people I will listen to this and say oh yeah yeah Trading is a purely mechanical scientific process and just show me the method where the what indicators do I use and what's the signal to get into a tree well maybe that will work for you as a mechanical process and once you learn this method you will simply apply it and become extremely successful but if you if you were to meet with a lot of successful people and wealthy people people who are truly successful that is not necessarily measured in the amount of money that they have but they are happy and fulfilled as well as being wealthy and have abundance in all areas of their lives if you were to meet with a lot of these people interview them you will find that they all understand this principle of positive thinking and what's often called the law of attraction or what's called a wealth consciousness success consciousness and there's an abundance of material on this that is available in the world today because it's a very popular subject personal development success training and this kind of thing if you get involved in this kind of thing you'll see this universally across the board that all the mentors who teach how to become successful they all teach this and so if all of these people are saying pretty much the same thing about how to become successful it might be a good idea to consider that maybe there is a reason why they're saying that because it's the same thing in other businesses other businesses also have a purely mechanical process where if you sell this many products you will make this much money if you open a store and you stock this much stuff and you sell this many goods and you take whatever actions you make this many phone calls or you do this much advertising you get this much results you could look at it as a purely mechanical process and that isn't a part of doing business is seeing that the results that we get are directly proportional to the actions that we take so in that respect there there is a responsibility on our part to take certain actions and get certain results but always behind that it's the state of mind that is driving that so just so that you know our Forex training program is not about the introductory material such as how do you open an account with a broker what is a pip welcome to technical analysis and charts you can get that information anywhere it's readily available from many different sources and that's why I believe it's important that if you purchase a Forex training program you won't be spending a lot of money for that material and by the same token our Forex training program is not about success training and positive thinking and that kind of thing it's about a specific method for trading profitably that shows you a method of trading that is relatively easy to do highly reliable has a very high window loss ratio this method is enabling many people to capture the best moves in the market and get the best part of the profit when the market does move and it also enables you to see how to stay out of the market when the market is not going to move in a way that would generate profit and we'll talk more about that in the next video so in the last video I mentioned that the best way for you get started in forex trading is to open a demo account talk to for its brokers read a couple of books and that will enable you to become well prepared to go on to the next step without having to spend a lot of money a lot of time and frustration going through the process of trial and error and purchasing many different courses so hopefully that will save you a lot of time and money just by doing that now also I'm mentioning the idea of success training and positive thinking because it's extremely critical for success in this business but our training program is not about that I'm just going to mention it so it's a subject that you might want to immerse yourself in for the rest of your life the subject of success training positive thinking abundance training Law of Attraction training is called many different things and there's so much material available today this a very old book by our standards today Napoleon Hill Think and Grow Rich is an old classic and he was one of the first people to really write about this concept that the process of becoming rich is strictly a process of how you think and it has been demonstrated by many people many people who are wealthy and successful know these principles to be true so this is a good classic and if you actually read this book and do the things that he says to do in there there's no doubt that you will become successful in whatever business you choose to do another excellent book on the concept of shifting your thinking to attract more success is the book called the law of attraction by Michael oza and this book will help you to shift your thinking in a way that enables you to begin to attract more and more of what you want into your life because for many people we are already well conditioned to focus our thinking on the things that we don't want and by doing that we attract more of the things that we don't want check it out and you'll see what I'm talking about and when you become aware of this in your daily life you will see how critical it is if you think that this is not relevant to the forex trading business you might want to think again because it's extremely relevant in the forex trading business there are many traders who are currently focusing all of their attention on not losing or protecting themselves against losses and by doing that they are attracting more losses as opposed to the traders who are focused on winning focus on getting profit and they will tend to attract more profitable trades so the law of attraction is very critical in the forex trading business or in any business and in life in general Robert Kiyosaki's book Rich Dad Poor Dad is an excellent book that has helped many people to change from thinking like a poor person to thinking like a rich person and just like Napoleon Hill and many others so robert kiyosaki who is a very savvy and practical businessman wrote his first best-selling book and it's totally about how becoming wealthy is strictly a matter of how you think and if you think like a wealthy person you will automatically become one because your thoughts create your actions and they create all the results that you get in life and poor people have a different way of thinking that attracts more poverty rich people have a way of thinking that attracts more wealth very critical that you understand how to think like a wealthy person if that's your intention if you're getting involved in forex trading I would think that your intention is you you intend to become wealthy and if you intend to become wealthy you probably want to immerse yourself in the type of material that enables you to shift your mind to start thinking like a wealthy person and getting the results that a wealthy person would get as a result of their thoughts and actions